Govt plans to set up NICA to coordinate development of Industrial Corridors
In a move which will facilitate the government in coordinating the development of all the proposed Industrial Corridors in the country, the government announced on Thursday that it plans to set up a National Industrial Corridor Authority (NICA) with an initial amount of Rs 100 crore.
The government’s decision to set up NICA marks a noteworthy move, particularly against the backdrop of the fact that it has – in an evident attempt to give manufacturing a push – already proposed a number of industrial corridors.
These corridors chiefly include the Amritsar-Kolkata Industrial Corridor, the Chennai-Bengaluru Industrial Corridor, Vizag-Chennai Corridor, and the Bengaluru-Mumbai Economic Corridor. Moreover, the government is currently implementing its ambitious $90 billion Delhi-Mumbai Industrial Corridor (DMIC) project, which is aimed at creating mega industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor.
Providing an initial corpus of Rs 100 crore in the Budget 2014-15 for the setting up of the NICA, Finance Minister Arun Jaitley said that NICA will be headquartered in Pune, and will essentially “coordinate the development of the industrial corridors.”
Jaitley further added that industrial corridors will primarily underscore the move to link smart cities to transport connectivity, and said industrial corridors will “the cornerstone of the strategy to drive India’s growth in manufacturing and urbanisation.”
Source- The Economic Times
Amritsar Kolkata Industrial Corridor, Bengaluru-Mumbai Economic Corridor, Chennai-Bengaluru Industrial Corridor, National Industrial Corridor Authority, NICA, Vizag-Chennai Corridor
