DIPP accepts ADB, JICA plans on industrial corridors
Department of Industrial Policy and Promotion (DIPP) has given nod to Asian Development Bank’s (ADB) and Japan International Cooperation Agency (JICA) for their conceptual development plan (CDP) report on Vizag Chennai Industrial Corridor (VCIC) and Chennai-Bengaluru Industrial Corridor (CBIC) respectively.
Vizag Chennai Industrial Corridor (VCIC):
On 22 April 2015, Andhra Pradesh government approved to take loan assistance from ADB for the development of proposed Visakhapatnam-Chennai Industrial Corridor (VCIC) project. The conceptual development plan report was in pipeline to receive nod from DIPP to carry forward it’s on ground development.
VCIC is envisaged from Kolkata to Tuticorin (in Tamil Nadu) also known as East Coast Economic Corridor (ECEC). ECEC in its first phase focuses on the Vizag-Chennai section which runs from Vishakhapatnam (Vizag), Andhra Pradesh to Chennai, Tamil Nadu.
The recent report sanctioned by DIPP includes development of three industrial nodes in first phase they are; Krishnapatnam (Andhra Pradesh), Tumkur( Karnataka) and Ponneri ( Tamil Nadu).
The Chennai-Bengaluru Industrial Corridor (CBIC):
In 2011, India and Japan met at consensus for development of CBIC, under this Japan agreed to provide financial and technical assistance for infrastructure development in the areas between Chennai and Bengaluru.
The two countries government directed their officials concerned to speedily prepare the Comprehensive Integrated Master Plan and get it completed at the earliest.
This corridor of around 560 km is projected between Chennai and Bengaluru under DBIC which will also have its influence on states across it.
The approach to develop the CBIC is to achieve accelerated development and regional industry agglomeration in the states of Tamil Nadu, Andhra Pradesh and Karnataka.
It should be noted that this belt has many Japanese manufacturing companies including some small and Medium Enterprises SMEs.
Month: Current Affairs - July, 2015