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Post at: Jul 19 2021

India and ADB on Chennai Kanyakumari Industrial Corridor

WHY IN NEWS?

  • In June, 2021,the Asian Development Bank (ADB) and the Government of India have signed a $ 484 million loan to improve transport connectivity.
  • It will facilitate industrial development in the Chennai-Kanyakumari Industrial Corridor in the state of Tamil Nadu.

ABOUT

  • Chennai Kanyakumari Industrial Corridor (CKIC) connects India to the production networks of South, Southeast and East Asia.
  • It is a part of India’s East Coast Economic Corridor which stretches from West Bengal to Tamil Nadu.
  • Asia Development Bank is the leading partner in developing the East Coast Economic Corridor.

SIGNIFICANCE OF CKIC

  • With the development of this corridor, the participation of Indian manufacturing in global production networks and global value chains would increase. Hence it will create lot of jobs along the corridor.
  • It will also enhance the connectivity of industrial hubs with hinterland and ports.
  • It will strengthen road safety improvement programmes through advanced technologies.
  • It will help & improve the planning capacity of Tamil Nadu’s Highways and Minor ports Development.

  • There are 11 industrial corridor projects which have been identified & approved by the Government of India as follows :
  1. Delhi Mumbai Industrial Corridor
  2. Amritsar Kolkata Industrial Corridor
  3. Chennai Bengaluru Industrial Corridor
  4. Hyderabad Nagpur Industrial Corridor
  5. Hyderabad Warangal Industrial Corridor
  6. East Coast Economic Corridor with Vizag Chennai Industrial Corridor as Phase 1.
  7. Delhi Nagpur Industrial Corridor
  8. Bengaluru Mumbai Industrial Corridor
  9. Odisha Economic Corridor
  10. Extension of CBIC to Kochi via Coimbatore
  11. Hyderabad Nagpur Industrial Corridor

WHAT WAS THE NEED OF CKIC?

CONCLUSION

Therefore, a $ 484 million loan by ADB to centre government will facilitate industrial development in the Chennai Kanyakumari Industrial Corridor & upgrade about 590 km of state highways under CKIC influence.

Amit Gupta
 

 


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