Rs 286 Bn investment to boost India's global manufacturing edge

04 Sep 2024 CW Team

A key aspect of this strategy involves developing integrated industrial corridors to accelerate growth in the manufacturing sector and promote systematic urbanisation. These corridors, supported by multi-modal connectivity and developed in collaboration with state governments, are expected to boost employment opportunities, economic growth, and overall socio-economic development nationwide.

The programme reportedly began with the launch of the Delhi-Mumbai Industrial Corridor (DMIC). The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) Ltd was established on 7th January 2008 as a Special Purpose Vehicle (SPV) under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. Its primary mission was to manage project development activities and coordinate various initiatives under the DMIC.

In December 2016, the DMIC Trust's scope was expanded, and it was reconstituted as the National Industrial Corridor Development and Implementation Trust (NICDIT). Consequently, in February 2020, DMICDC Ltd was renamed the National Industrial Corridor Development Corporation (NICDC) Limited. This marked a significant milestone in India's 'National Industrial Corridor Programme,' with NICDC leading the development of multiple industrial corridor projects across the country.

NICDC's mandate reportedly includes project development activities for initiatives such as investment regions, industrial areas, economic zones, and manufacturing clusters. It also supports various state governments by preparing master plans, feasibility reports, and detailed project reports. NICDC is said to play a key role in infrastructure project development, negotiating loans, creating financial instruments, and facilitating resource mobilisation and credit extension for infrastructure development

National Industrial Corridor Development Programme is regarded as India's most ambitious infrastructure initiative, aimed at shaping the future of urban and industrial development. The programme seeks to create new industrial cities as Smart Cities, where next-generation technologies would seamlessly integrate across various infrastructure sectors. By developing these advanced industrial hubs, the Indian government is positioning the country as a global leader in manufacturing and investment, potentially rivalling the world's top destinations. A key aspect of this strategy involves developing integrated industrial corridors to accelerate growth in the manufacturing sector and promote systematic urbanisation. These corridors, supported by multi-modal connectivity and developed in collaboration with state governments, are expected to boost employment opportunities, economic growth, and overall socio-economic development nationwide. The programme reportedly began with the launch of the Delhi-Mumbai Industrial Corridor (DMIC). The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) Ltd was established on 7th January 2008 as a Special Purpose Vehicle (SPV) under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. Its primary mission was to manage project development activities and coordinate various initiatives under the DMIC. In December 2016, the DMIC Trust's scope was expanded, and it was reconstituted as the National Industrial Corridor Development and Implementation Trust (NICDIT). Consequently, in February 2020, DMICDC Ltd was renamed the National Industrial Corridor Development Corporation (NICDC) Limited. This marked a significant milestone in India's 'National Industrial Corridor Programme,' with NICDC leading the development of multiple industrial corridor projects across the country. NICDC's mandate reportedly includes project development activities for initiatives such as investment regions, industrial areas, economic zones, and manufacturing clusters. It also supports various state governments by preparing master plans, feasibility reports, and detailed project reports. NICDC is said to play a key role in infrastructure project development, negotiating loans, creating financial instruments, and facilitating resource mobilisation and credit extension for infrastructure development

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