New Delhi, August 18: Union Finance Minister Nirmala Sitharaman chaired the third meeting of the National Industrial Corridor Development and Implementation Trust (NICDIT) in New Delhi on Monday. The meeting reviewed the progress of ongoing projects under the National Industrial Corridor Development Program (NICDP) and set priorities for the next phase of industrial corridor development.
Attendees included Union Minister of Commerce and Industry Piyush Goyal, Chief Minister of Madhya Pradesh Dr. Mohan Yadav, and NITI Aayog Vice Chairman Ashok Kumar Lahiri, among other state ministers and senior officials. Union Minister Sarbananda Sonowal joined the meeting virtually.
Sitharaman highlighted that the NICDP is a crucial pillar of the Indian government’s strategy aimed at expanding manufacturing, enhancing logistics competitiveness, and creating a world-class industrial ecosystem. She stressed that efforts should not be limited to project approvals. Timely infrastructure development, land allocation, attracting investments, and commencing production must be prioritized.
She urged states to promptly address obstacles related to land, connectivity, utilities, legal approvals, and the powers of project Special Purpose Vehicles (SPVs). The Finance Minister emphasized the need to prepare the next pipeline before the existing inventory of land and infrastructure runs out. This requires continuous adoption of integrated planning and investor-friendly land allocation through PM Gati Shakti.
Sitharaman also noted the importance of social amenities such as housing, health, skill development, and public transport for workers alongside industrial development.
Union Minister Piyush Goyal called for the rapid implementation of industrial corridor projects with tangible results. He advocated for creating industrial ecosystems with “plug-and-play” infrastructure, fully prepared for investors, including factory flats, worker housing, and supportive socio-economic frameworks.
Goyal linked the future of industrial development to an integrated regional development approach in line with PM Gati Shakti. He suggested developing country- and sector-specific industrial enclaves by leveraging opportunities from India’s free trade agreements. Special campaigns and improved marketing of industrial nodes are essential for reaching investors.
The meeting also reviewed the Bhavya scheme, aimed at establishing 100 investment-ready, plug-and-play industrial parks across the country. States submitted 87 applications for 20 proposed projects in the first round, indicating strong interest in the scheme.
So far, 20 projects have been approved under the NICDP across 13 states and 7 industrial corridors. Notable industrial smart cities like Dholera, Shendra-Bidkin, Greater Noida, and Vikram Udyogpuri have reached the production phase. Work is also progressing rapidly on 12 projects approved in August 2024.
According to data, approximately 5,348 acres have been allocated with 469 plots, expected to attract around ₹2.21 lakh crore in investments and create 1.29 lakh jobs. Currently, 134 units are in production, and 95 units are under construction.
Sarbananda Sonowal emphasized connecting industrial corridors with national waterways, stating that waterways could serve as the backbone of corridor development. He also highlighted the need for robust connectivity and industrial infrastructure development in resource-rich areas of the northeastern states.
NITI Aayog Vice Chairman Lahiri urged state governments to grant adequate powers to project SPVs for planning, development, and municipal matters to facilitate swift decision-making and create an investor-friendly environment.
At the end of the meeting, the top monitoring committee decided that future progress would be measured not just by the structures built but by how quickly investments come in, production starts, and jobs are created.
Leave a Comment