ADB Boosts Industrial Corridor Development in India

29 October 2021

The Asian Development Bank (ADB) approved the Industrial Corridor Development Program (Subprogram 1) loan support for India worth $250 million with a $1 million “Knowledge Services for Industrial Corridor Development Program” technical assistance support. The approved loan is the first subprogram of a $500 million loan, which will develop India’s 11 industrial corridors across 17 states. Subprogram 1 will prioritize initiatives by the Government of India to strengthen its institutional framework and capacity development for industrial corridor planning, improve project readiness, and facilitate ease of doing business.

Development of India’s industrial corridors will expand and enhance the competitiveness of manufacturing in the country. It will help boost the economy and create jobs. Furthermore, corridor development will also expand multi-modal transport networks along economic corridors, enhance institutions for corridor management, and address skills gaps to support industrialization.

The investment is set to open opportunities for domestic and foreign investors. Mr. Manohari Gunawardhena, Senior Financial Specialist for South Asia, ADB, highlights, “Development of industrial corridors will strengthen national supply chains and boost linkages with global value chains.”

 

Related

ADB Approves $250 Million for Industrial Corridor Development in India

Mr. Alok Kumar, Secretary, Ministry of Power of the Government of India led a delegation to Bhutan on...

Read More


India’s Central Electricity Authority granted the Nepal Electricity Authority (NEA) approval to export an additional 22 megawatts of...

Read More


Indian Railways successfully delivered 75 sports utility vehicles (SUVs) by rail and road to Bhutan—its first delivery to...

Read More


The Bangladesh Roads and Highways Department signed a contract for road expansion work under the South Asia Subregional...

Read More


Mr. Ghanshyam Bhandari, newly-appointed Ambassador of the Government of Nepal to the Government of Bangladesh, met Bangladesh Prime...

Read More


Sri Lanka President Ranil Wickremesinghe visited the eastern port district of Trincomalee to inspect its integrated development plan....

Read More


Mr. Ahmed Latheef, Foreign Secretary of the Government of Maldives, and Mr. Vinay Mohan Kwatra, Foreign Secretary of...

Read More