News List

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

December 2021

ADB, India Sign Loan Agreement for the Industrial Corridor Development Program (Subprogram 1)

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.

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Tags: ADB, India, Economic corridor, Investments, manufacturing, Logistics

November 2021

Japanese Economic Zone in Bangladesh Set to Raise $1 Billion Investment

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.

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Tags: Bangladesh, Japan, manufacturing, Economic zone

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

January 2017

Northeast Region Could Be India’s New Growth Engine

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.

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Tags: 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

December 2015

ADB Chief Economist Visits Sri City for the Vizag-Chennai Industrial Corridor Study

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.

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Tags: Special Economic Zone, Vizag-Chennai Industrial Corridor, manufacturing, India, ADB

December 2015

Commentary: South Asia Could Be Linchpin for Regional Integration

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.

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Tags: South Asia, Economic corridor, Development, ASEAN, Southeast Asia, East Asia, Trade Facilitation, Transport, Tourism, manufacturing, Bangladesh, Bhutan, India, Maldives, Nepal

May 2015

Inception Workshop on Vizag-Chennai Industrial Corridor

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.

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Tags: India, Transport, Trade, manufacturing

January 2015

Prime Minister Modi Vows to Make India Easiest Business Destination

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.

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Tags: India, Infrastructure, Trade Facilitation, manufacturing