"India's Global Manufacturing Edge Boosted by Rs. 28,602 Cr Investment in Industrial Corridors"

The National Industrial Corridor Development Programme represents India's most ambitious infrastructure initiative, aiming to redefine urban and industrial development across the country. The programme's goal is to create futuristic industrial cities, termed "Smart Cities," where next-generation technologies are seamlessly integrated into various infrastructure sectors. This initiative is poised to elevate India’s position as a global leader in manufacturing and investment, competing with the world’s top destinations.

At the heart of this strategy are the integrated industrial corridors, designed to spur growth in the manufacturing sector and promote systematic urbanization. These corridors, backed by robust multi-modal connectivity and developed in partnership with state governments, are expected to generate significant employment opportunities, drive economic growth, and enhance overall socio-economic development nationwide.

The programme's inception began with the Delhi-Mumbai Industrial Corridor (DMIC). Established on January 7, 2008, the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) Ltd was created as a Special Purpose Vehicle (SPV) under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. Its primary role was to oversee project development and coordinate various initiatives under the DMIC.

In December 2016, the DMIC Trust's scope was expanded, leading to its reconstitution 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 rebranding marked a key development in India’s National Industrial Corridor Programme, with NICDC now leading multiple industrial corridor projects across the country.

NICDC's responsibilities include comprehensive project development, covering investment regions, industrial areas, economic zones, industrial nodes, townships, integrated manufacturing clusters, and standalone or early-stage projects. The corporation also supports state governments in these ventures, preparing master plans, feasibility reports, and detailed project reports. Additionally, NICDC plays a crucial role as an intermediary in developing and establishing infrastructure projects, facilitating financial instrument creation, negotiating loans, and designing resource mobilization schemes for infrastructure development.

ET