Rapid Fire
India, ADB Ink USD 250M Deal for Industrial Corridor Development
- 19 Dec 2023
- 1 min read
Recently, The Government of India and Asian Development Bank (ADB) signed a USD 250 million policy-based loan that will continue support to industrial corridor development to make manufacturing more competitive, strengthen national supply chains and links with regional and global value chains.
- This will help to strengthen policy frameworks for the Government of India’s National Industrial Corridor Development Programme (NICDP) and develop 11 industrial corridors.
- NICDP is India's most ambitious infrastructure programme aiming to develop new industrial cities as "Smart Cities" and converging next generation technologies across infrastructure sectors.
- National Industrial Corridor Development and Implementation Trust (NICDIT) is the implementing agency under the administrative control of Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
