Comm Min to soon approach Cabinet for NICDA

The Dollar Business Bureau

The Commerce and Industry Ministry is likely to approach the Cabinet recommending the setup of the National Industrial Corridor Development Authority, which will ease the process to set up industrial corridors.

Ramesh Abhishek, Secretary in the Department of Industrial Policy and Promotion, revealed that the authority will have different verticals which will look into the proposals of industrial corridors.

The functions of the authority will be to sanction and appraise projects, conduct project development activities, implement and coordinate the Centre’s efforts and objectives for industrial corridors.

Abhishek further shed the light on the progress made for different industrial corridors in India. About 8,000 cr worth projects were approved in the Delhi-Mumbai corridor.

The works for other four industrial corridors, including Visakhapatnam-Chennai Industrial Corridor, Amritsar-Kolkata Industrial Corridor, Chennai-Bengaluru Industrial Corridor and Bengaluru- Mumbai Economic Corridor, are in progress.

The Commerce and Industry minister Nirmala Sitharam stated that VCIC will be extended to Tuticorin, Tamil Nadu.

She also revealed that the ministry is reviewing the request of the Oil Minister Dharmendra Pradhan for extension of VCIC to Orissa.