India developing industrial corridor projects to compete with world's top manufacturing and investment destinations

New Delhi: The government is developing industrial corridor projects as part of the National Industrial Corridor Development Programme (NICDP) for the development of greenfield industrial areas, regions, and nodes in order to compete with the world's top manufacturing and investment destinations, stated Minister of State (MoS) in the Ministry of Commerce and Industry Jitin Prasada.

These projects are part of the National Industrial Corridor Development Programme (NICDP), as per the written reply provided by the minister in Lok Sabha on Tuesday.

The minister added that under NICDP in the state of Maharashtra, Shendra-Bidkin Industrial Area (SBIA) and Dighi Port Industrial Area (DPIA) are being undertaken for development.

Under NICDP, the Amritsar Kolkata Industrial Corridor (AKIC) has been conceptualised on the backbone of the EDFC (Eastern Dedicated Freight Corridor). Two projects, namely IMC Agra and IMC Prayagraj, proposed by the state. government, have been considered and approved by the government of India in August 2024, the Ministry of Commerce and Industry quoted the minister in a release.

He further added that no funds have been released by NICDIT to MITL (SPV at Shendra Bidkin Industrial area) in the past three years. However, the total funds released by NICDIT (till December 3, 2024) to MITL as equity is Rs. 3000 Crore for the development of trunk infrastructure of the SBIA project, as per the minister.

The government has also approved the Central Sector Scheme "Indian Footwear and Leather Development Programme (IFLDP)" with an allocation of Rs. 1700.00 crore till 31 March of 2026.

Maharashtra has received help under the IFLDP. From 2021-2022 to 2024-2025, Rs. 5.75 lakhs has been allocated for the technological upgrade of one unit in the state of Maharashtra.

In addition, DPIIT has approved the development of the Mega Leather Footwear and Accessories Cluster at Ratwad Village, Maharashtra, with a total project cost of Rs. 256.42 crores involving Government of India assistance of Rs. 125.00 crores.

The Government of India has approved the following Central Sector Schemes for Industrial Development of Himachal Pradesh, Uttarakhand, the Union Territory (UT) of Jammu & Kashmir (J&K), and the UT of Ladakh.

An institutional mechanism to fast-track investments has been put in place in the form of Project Development Cells (PDCs) in all concerned ministries/departments of the Government of India, the minister added.