News List

Compiled features on recent developments in regional cooperation and integration in the SASEC region.

Year:
June 2017

ADB to Increase Support for India's East Coast Economic Corridor

Asian Development Bank (ADB) President Takehiko Nakao told India’s leaders on 29 June 2017 that ADB is increasing support for developing economic corridors under the Make-in-India initiative, following ADB’s new country strategy for India for 2018-2022. Mr. Nakao said ADB is prepared to invest up to $5 billion during 2018-2022 to develop the East Coast Economic Corridor.

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Tags: Economic Corridor Development, Make in India, ADB, East Coast Economic Corridor, India, Vizag-Chennai Industrial Corridor, Economy

June 2017

India Becomes Party to the United Nations TIR Convention

The Government of India ratified the United Nations TIR (Transports Internationaux Routiers) Convention on 19 June 2017, becoming the 71st country to accede to this worldwide Customs transit system, which has the widest geographical coverage. Accession promises to be a boon to India's trade, and contribute to an integrated economy with global and regional production networks.

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Tags: India, Customs, Trade Facilitation, Transport, Multimodal Logistics Park, manufacturing, Make in India

February 2017

ADB, India Ink $375 Million Loan/Grant Agreement to Develop the Vizag-Chennai Industrial Corridor

The Asian Development Bank and the Government of India have signed a $375 million agreement to develop the 800-kilometer Visakhapatnam (Vizag)-Chennai Industrial Corridor. The agreement includes the first tranche of $245 million, which will develop high-quality infrastructure in Visakhapatnam and Yerpedu-Srikalahasti, a $125 million policy-based loan, and a $5 million grant to build climate change resilient infrastructure.

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Tags: ADB, Economic corridor, India, Act East Policy, Make in India, manufacturing

November 2016

East Coast Economic Corridor to Include Odisha

The State Government of Odisha will prepare a conceptual development plan for the first phase of the East Coast Economic Corridor (ECEC) by March 2017. Odisha has been included in the ECEC following discussions between officials of the Government of India and the Asian Development Bank.

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Tags: East Coast Economic Corridor, Economic corridor, Odisha, Make in India, manufacturing, ADB, India

January 2016

Vizag-Chennai Industrial Corridor to Boost Andhra Pradesh's Industrial Activity

A potential Asian Development Bank loan of $625 million will boost the planned $840 million Vizag-Chennai Industrial Corridor (VCIC). VCIC will form part of India’s proposed East Coast Economic Corridor, with 4 industrial nodes expected to double industrial output and improve productivity in Andhra Pradesh by 30% over the next 2 decades.

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Tags: Vizag-Chennai Industrial Corridor, Transport, Ports, manufacturing, India, Economic corridor, ADB, Make in India