New Delhi Jan 31: The Union Cabinet gave approval for setting up the Amritsar-Kolkata Industrial Corridor (AKIC) and formation of the AKIC Development Corporation (AKICDC) on January 20, 2014. The AKIC is proposed to be developed in a band of 150-200 kms on either side of Eastern Dedicated Freight Corridor (EDFC), in a phased manner, and would therefore comprise a belt of at least 5.5 lakh square kms in the seven States of Punjab, Haryana, Uttarakhand, Uttar Pradesh, Bihar, Jharkhand, West Bengal.
On the same day, the Cabinet Committee on Economic Affairs also approved three projects under DMIC viz; Integrated industrial township at Vikram Udyogpuri near Ujjain, Madhya Pradesh (M.P.) in the Pithampur, Dhar Mhow investment region of the Delhi Mumbai Industrial Corridor (DMIC) project at an estimated project cost of Rs.808.60 crore for Stage 1 of the Project.
Approval for development of trunk infrastructure for integrated industrial township at Greater Noida, Uttar Pradesh in the Delhi Mumbai Industrial Corridor project. The project cost is Rs.1714.70 croreApproval for formation of a Special Purpose Vehicle for implementation and operation of Model Solar Power Project at Neemrana, Rajasthan.
The CCEA also approved Utilisation of Japanese Assistance under Japan International Cooperation Agency (JICA) through Special Terms For Economic Partnership (STEP) of Japanese Official Development Assistance loans for the Delhi Mumbai Industrial Corridor project. The proposal for availing the US $ 4.5 billion facility through a STEP loan is expected to bring in Japanese funding, cutting edge technology and knowhow into projects implemented in DMIC.
India has embarked on an ambitious industrialization agenda and has launched four industrial corridors – Delhi Mumbai Industrial Corridors, Bengaluru-Mumbai Economic Corridor, Chennai-Bengaluru Industrial Corridor and Amritsar-Kolkata Industrial Corridor. Keeping in mind the social need of providing employment to the predominantly young population of India in coming years, the Government has embarked on a policy of manufacturing led growth.
Creation of these Industrial corridors is one of the key initiatives to promote a conducive environment for establishment of manufacturing units and creating greenfield townships as hub of economic activities focussing on green and state-of the art manufacturing and other activities. These corridors aim to double employment in 7 years, triple industrial output in 9 years and quadruple exports from the concerned regions in 8 -9 years.(SP News)
