The Central Government has shifted its focus from merely approving industrial corridor and infrastructure projects to ensuring their time-bound implementation, attracting investment, and commencing production. The government believes that the true success of industrial development will be determined by the actual ground-level execution of projects and their translation into economic activity.
During the third meeting of the Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT), Union Ministers emphasized the need for the rapid and result-oriented implementation of industrial corridor projects. States were urged to promptly resolve bottlenecks related to land availability, connectivity, utilities, statutory clearances, and project-specific Special Purpose Vehicles (SPVs).
Union Finance Minister Nirmala Sitharaman stated that states should resolve hurdles concerning land allocation, road and transport connectivity, basic amenities like power and water, and regulatory clearances on a priority basis. She also emphasized the importance of integrated planning through PM GatiShakti and the continued use of investor-friendly land allocation systems.
The Finance Minister remarked that industrial development should not be limited to the construction of factories alone; worker housing, healthcare facilities, skill development, public transport, and other social amenities must also be made integral parts of industrial projects. She added that the Central Government is strengthening domestic manufacturing and supply chains through public capital expenditure, assistance to states, enhanced credit support for manufacturing MSMEs, and measures related to taxes and customs duties.
Union Minister of Commerce and Industry Piyush Goyal stated that ‘grand’ and futuristic industrial projects should be developed under an integrated regional development model by aligning them with PM GatiShakti. He emphasized the need to enhance outreach to investors and effectively market industrial nodes.
Goyal further stated that country-specific and sector-specific industrial enclaves should be developed by leveraging opportunities arising from India’s Free Trade Agreements (FTAs). He emphasized the need to provide suitable locations tailored to investors’ requirements and to develop a ready-to-use industrial ecosystem featuring plug-and-play infrastructure, flatted factories, worker housing, and essential economic and social amenities.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal suggested linking industrial corridors with national waterways. He stated that the potential to develop waterways as the backbone of industrial growth should be explored. According to him, this would reduce logistics costs and accelerate industrial activities.
Sonowal also placed special emphasis on developing industrial infrastructure in the Northeastern states. He noted that the country’s industrial base could be expanded by promoting industries in regions that offer better connectivity, land availability, local resources, and market potential.
During the meeting, NITI Aayog Vice Chairman Ashok Kumar Lahiri also urged states to grant greater powers to project Special Purpose Vehicles (SPVs). He stated that they should be given adequate authority regarding planning, development, and municipal administration to ensure the more effective and rapid implementation of industrial corridor projects.
