ADB and the Government of India signed a loan agreement for the Industrial Corridor Development Program (Subprogram 1). Under the Program, ADB will lend $250 million (about Rs 1,872 crore) support to India. Mr. Rajat Kumar Mishra, Additional Secretary, Ministry of Finance, signed on behalf of the Government of India, and Mr. Takeo Konishi, Country Director of ADB India Resident Mission, signed on behalf of ADB.
Tags: ADB, India, Economic corridor, Investments, manufacturing, Logistics
In the Araihazar upazila of the Narayanganj District, Bangladesh, a Japanese Economic Zone is being developed by the Government of Bangladesh and the Japan International Cooperation Agency (JICA). Japan is eyeing to raise $1 billion investment from around 100 companies in the economic zone.
Tags: Bangladesh, Japan, manufacturing, Economic zone
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.
Tags: ADB, Economic corridor, India, Act East Policy, Make in India, manufacturing
Through infrastructure improvements and policy reforms, Assam is becoming more investment friendly, prompting the possibility of Assam and the entire northeast India becoming the country’s new growth engine, according to Assam’s Chief Minister. The State is connected to all of India’s major cities through the East-West Corridor and is also set to improve connectivity with ASEAN and BIMSTEC countries through proposed road and rail projects.
Tags: India, manufacturing
Asian Development Bank (ADB) Chief Economist and Director General of Economic Research Dr. Shang-Jin Wei and a team of senior officials visited Sri City in India's Andhra Pradesh on 17 December 2015 as part of a study on the Vizag-Chennai Industrial Corridor (VCIC). A Special Economic Zone for export-oriented industries will be established in Sri City's Industrial Zone, to support India's manufacturing growth campaign, the 'Make in India' initiative.
Tags: Special Economic Zone, Vizag-Chennai Industrial Corridor, manufacturing, India, ADB
South Asia is set to play a strategic role in Asian integration. This commentary by Mr. Ganeshan Wignaraja, Advisor in the Asian Development Bank’s Economic Research and Regional Cooperation Department, shares how linking emerging South Asia with the more developed member countries of the Association of South East Asian Nations will transform regional economies through development of regional connectivity, and create a huge regional market of 2-3 billion people.
Tags: South Asia, Economic corridor, Development, ASEAN, Southeast Asia, East Asia, Trade Facilitation, Transport, Tourism, manufacturing, Bangladesh, Bhutan, India, Maldives, Nepal
The State Government of Andhra Pradesh and the Asian Development Bank reviewed the inception report for the Regional Perspective Plan of the Vizag-Chennai Industrial Corridor (VCIC), India’s first coastal corridor on 29 May in Hyderabad, India. Industrial analysis, infrastructure development and business regulatory reform proposals were presented.
Tags: India, Transport, Trade, manufacturing
Indian Prime Minister Narendra Modi promised to make India the easiest destination to do business with at the inauguration of the Vibrant Gujarat Summit on 11 January 2015. With global leaders and foreign investors in attendance, he highlighted India's investor-friendly climate, and said that India is working to upgrade its manufacturing infrastructure by modernizing ports and improving road and rail connectivity.
Tags: India, Infrastructure, Trade Facilitation, manufacturing