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Home / News / Business News / Budget boost likely for industrial corridor projects
  • Business

    Budget boost likely for industrial corridor projects

    Achin Garg
    Written by
    Achin Garg
    Mail
    Last updated on Jan 24, 2016, 10:02 am
    Budget boost likely for industrial corridor projects
    Credits:
  • The Department of Industrial Policy and Promotion has asked the Finance Ministry to increase the outlay for industrial corridors for the coming financial year 2016-17 to Rs.3000cr from the existing Rs.1200cr.

    Setting up of the National Industrial Corridor Authority announced by the Union Finance Minister in budget 2014-15, may also be approved.

    NICA, to be headquartered in Pune, will oversee development of industrial corridor.

  • In this article
    What are industrial corridors? $181 bn needed for CBIC Dholera to be developed as aerotropolis Japanese assistance for DMIC ECIC to see auto and electronics boom Parliamentary committee to look into issues Budget boost likely for industrial corridor projects
  • Background

    What are industrial corridors?

    What are industrial corridors?
    Credits:
  • Industrial corridors, aimed at providing connectivity to the proposed industrial towns and smart cities are key to India's urbanization and industrialization.

    They are an important factor in increasing manufacturing in India from present 15-16% of GDP to 25% of GDP by 2022.

    5 such corridors- Delhi-Mumbai Industrial Corridor, Amritsar-Kolkata Industrial Corridor, Bengaluru-Mumbai Economic Corridor, Chennai-Bengaluru Industrial Corridor, Chennai-Vizag Industrial Corridor are under development.

  • 24 Sep 2015

    $181 bn needed for CBIC

    $181 bn needed for CBIC
    Credits:
  • According to the government's Integrated Master Plan, the Chennai-Bengaluru Industrial Corridor(CBIC) will require $180 billion of investment over the next 2 decades.

    A large portion of this investment will be required in the energy and transportation sectors.

    The plan foresees a growth rate of 15% per annum in the manufacturing sector which will be aided by the proposed industrial corridor project.

  • 3 Jan 2016

    Dholera to be developed as aerotropolis

    Dholera to be developed as aerotropolis
    Credits:
  • The civil aviation ministry has approved the proposed two runway, Rs.1712 crore, Dholera International Airport near Ahemedabad.

    With the nod, the Delhi Mumbai Industrial Corridor Development Corporation(DMICDC) aims to develop Dholera as an aerotropolis - a metropolitan region whose economy and infrastructure is based on airport centric commercial activities.

    Dholera, 100km from Ahmedabad, is an important logistics and economic node for the DMIC.

  • Information

    Japanese assistance for DMIC

  • The Delhi-Mumbai Industrial Corridor (DMIC) passing through UP, Delhi, Haryana, Rajasthan, MP, Gujarat, and Maharashtra is being developed with assistance from the Japan Industrial Cooperation Agency (JICA), a Japanese government financial agency.

  • 13 Jan 2016

    ECIC to see auto and electronics boom

    ECIC to see auto and electronics boom
    Credits:
  • The East Coast Industrial Corridor (ECIC) passing along the 800 km segment of NH-16 along the coast of Andhra Pradesh will connect Vishakhapatnam to Chennai.

    According to Asian Development Bank(ADB), this corridor will see a growth rate of 24% for next 20 years in the auto and electronics sectors.

    ADB's loan of $625 million for the corridor is expected to push manufacturing in AP.

  • 23 Jan 2016

    Parliamentary committee to look into issues

    Parliamentary committee to look into issues
    Credits:
  • Faced with issues such as land acquisition and clearances, the proposed industrial corridor projects have been delayed significantly.

    The Parliamentary Standing Committee on Commerce will look into issues such as land acquisition and financing, including from multilateral agencies like the World Bank, Asian Development Bank, etc.

    Its report, expected during the monsoon session, will propose measures for expediting the projects in the corridors.

  • 24 Jan 2016

    Budget boost likely for industrial corridor projects

    Budget boost likely for industrial corridor projects
    Credits:
  • The Department of Industrial Policy and Promotion has asked the Finance Ministry to increase the outlay for industrial corridors for the coming financial year 2016-17 to Rs.3000cr from the existing Rs.1200cr.

    Setting up of the National Industrial Corridor Authority announced by the Union Finance Minister in budget 2014-15, may also be approved.

    NICA, to be headquartered in Pune, will oversee development of industrial corridor.

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