Chennai-kanyakumari industrial corridor ( ckic )

#industrialcorridor

The loan is in line with Strategy 2030, #ADB’s long-term corporate strategy, the project emphasizes sustainability, #climatechange resilience, and road safety elements.
Under Strategy 2030, ADB will expand its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
CKIC is part of India’s #EastCoastEconomicCorridor (ECEC).

Enhanced connectivity of industrial hubs with hinterland and ports will particularly help increase the participation of Indian manufacturing in global production networks and global value chains, thereby creating jobs along the corridor.

Following eleven industrial corridor projects have been identified and approved for development by the Government of India:

Delhi Mumbai Industrial Corridor (DMIC)
Chennai Bengaluru Industrial Corridor (CBIC)
Extension of CBIC to Kochi via Coimbatore
Amritsar Kolkata Industrial Corridor (AKIC)
Hyderabad Nagpur Industrial Corridor (HNIC)
Hyderabad Warangal Industrial Corridor (HWIC)
Hyderabad Bengaluru Industrial Corridor (HBIC)
Bengaluru Mumbai Industrial Corridor (BMIC)
East Coast Economic Corridor (ECEC) with Vizag Chennai Industrial Corridor (VCIC) as Phase-1
Odisha Economic Corridor (OEC)
Delhi Nagpur Industrial Corridor (DNIC)

The development of these eleven industrial corridor projects will be implemented through the National Industrial Corridor Development and Implementation Trust (NICDIT).

Significance of Industrial Corridors:
Avenues for Exports:
The Industrial Corridors are likely to lower the cost of logistics thereby increasing the efficiency of industrial production structure.
Such an efficiency lowers the cost of production which makes the Indian made products more competitive in international markets.
Job Opportunities:
It will attract investments for the development of Industries which is likely to create more jobs in the market.
Environmental Significance:
The establishment of Industrial Units in a scattered manner along the industrial corridor across the length of the state will prevent concentration of industries in one particular location which exploited the environment beyond its carrying capacity and caused environmental degradation.
Socio-Economic Significance:
The cascading effect of industrial corridors in socio-economic terms are many such as the setting up of industrial townships, educational institutions, hospitals. These will further raise the standards of human development.

It is aligned with the Golden Quadrilateral. It also plays a critical role in the “Act East Policy” of India.
The Golden Quadrilateral is the longest road project in India and the fifth-longest highway in the world. It connects Delhi, Mumbai, Kolkata and Chennai.

In 2019, the government approved the development of the five industrial corridor projects, being implemented through National Industrial Corridor Development and Implementation Trust (NICDIT).
NICDIT is an apex body under the administrative control of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
Five Industrial Corridor Projects:
Delhi Mumbai Industrial Corridor (DMIC).
Amritsar Kolkata Industrial Corridor (AKIC).
Chennai Bangalore Industrial Corridor (CBIC).
East Coast Economic Corridor (ECEC) with Vizag Chennai Industrial Corridor (VCIC).
Bangalore Mumbai Industrial Corridor (BMIC).

Asian Development Bank

It is a regional development bank established on 19th December 1966. It is headquartered in Manila, Philippines.
It now has 68 members, 49 from within Asia. India is a member.
It’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
It aims to promote social and economic development in Asia and the Pacific.