Goyal lays emphasis on financial viability of projects
Finance Minister Nirmala Sitharaman has stressed that “FIRE Corridors = F – Freight; I – Industrial; R – Railways; E – Expressways” will ignite industrialization and economic development in India.
She emphasized upon the need to ensure continued coordination between the Central and the State Governments and said they should work collectively as ‘Team India.’
Chairing the 2nd meeting of the Apex Monitoring Authority constituted to review the activities of National Industrial Corridor Development and Implementation Trust (NICDIT), the Minister highlighted the rapidity with which the infrastructure is being developed.
She urged the State Governments and NICDIT to maintain the same momentum, and called on all the States to tie up loose ends and move forward and resolve all pending issues through greater exchange and sharing of information to expedite the progress of works in the respective States.
Commerce and Industry Minister Piyush Goyal, who also attended the apex meeting, emphasized upon the financial viability of projects.
He urged the States for faster allotment of lands at reasonable rates, and called for adoption of innovative models and offer package deals etc for faster investments.
Goyal urged the State Governments to expedite acquisition of contiguous, litigation encumbrance free land and grant early environmental clearances for the NICDIT projects.
He wants the States to focus on expediting the finalization and execution of the Shareholders Agreements and State Support Agreements.
He directed NICDC to foreclose the projects where the State Government is not able to provide committed land in a time bound manner and to conceive projects in other states that are willing to offer land to expedite investments in their respective states.
Sumita Dawra, Special Secretary – Logistics, DPIIT and CEO & MD, NICDC presented action taken on the directions of the 1st meeting and further spoke about the recent developments in the industrial corridor projects and gave a brief overview about the projects which are in the pipeline.
During the presentation, she apprised that as per the directions of the Finance Ministry in the previous meeting, Round Table Conferences, Roadshows & meetings with international associations are being organised at different places with the support of States & SPVs.
The meeting proved to be a valuable platform for key stakeholders to discuss and exchange ideas on the progress, challenges, and future strategies related to the National Industrial Corridor Development Program, the Commerce and Industry Ministry said on 30 May 2023.
“It presented an opportunity to align efforts, foster collaboration, and accelerate the development of industrial infrastructure across the country.
Further steps to be taken into consideration for the advancement of the National Industrial Corridor Development Programme (NICDP) were the main points of discussion during the meeting of Apex Authority, it said.
The NICDP aims to establish a network of industrial corridors that will serve as engines of economic growth, promote industrialization, and create employment opportunities across India.
The program focuses on developing world-class infrastructure, attracting investments, and fostering sustainable industrial development. Fiinews.com
