Industrial Corridor

Context: Central government is developing 11 industrial corridor projects across the country in a phased manner, as part of the National Industrial Corridor Programme.

About National Industrial Corridor Programme  (NICP):

• Aim: Developing a series of industrial corridors across the country to promote manufacturing and create job opportunities.
• These corridors are intended to act as a catalyst for the development of manufacturing and service sectors, thereby generating employment opportunities and boosting economic growth.
• Industrial corridors being developed by the Centre are as follows:

• The key objectives of the NICP are as follows:
• • To develop world-class infrastructure in the form of industrial corridors, which will facilitate the establishment of new industries and the expansion of existing ones.
  • To attract domestic and foreign investments in the manufacturing sector, with a focus on high-value and high-tech industries.
  • To promote the development of smart cities along the industrial corridors, which will provide a high quality of life for workers and their families.
  • To create employment opportunities for the local population, particularly in areas that are currently underdeveloped.
  • To promote sustainable development by adopting environmentally friendly practices in the establishment and operation of industries.
• Funding: Government of India, through National Industrial Corridor Development & Implementation Trust (NICDIT), provides funds as equity/debt for the development of world-class trunk infrastructure in the industrial nodes/regions under industrial corridors and the States are responsible for making available contiguous and encumbrance free land parcels.

About National Industrial Corridor Development and Implementation Trust (NICDIT):

• The NICDIT is a government agency responsible for coordinating and monitoring the development of industrial corridors in India. 
• The NICDIT aims to establish greenfield smart industrial cities with sustainable, plug-and-play, and ICT-enabled utilities.

News Source: PIB

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