{"id":53934,"date":"2019-11-11T17:40:04","date_gmt":"2019-11-11T12:10:04","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?page_id=53934"},"modified":"2019-11-11T17:40:12","modified_gmt":"2019-11-11T12:10:12","slug":"answered-what-is-the-significance-of-industrial-corridors-in-india-identifying-industrial-corridors-explain-their-main-characteristics","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/answered-what-is-the-significance-of-industrial-corridors-in-india-identifying-industrial-corridors-explain-their-main-characteristics\/","title":{"rendered":"[Answered] What is the significance of Industrial Corridors in India? Identifying industrial corridors, explain their main characteristics."},"content":{"rendered":"\n
Demand of the question<\/strong>
Introduction. <\/strong>Contextual Introduction.
Body. <\/strong>Discuss the significance of Industrial Corridors in India. Mention Major industrial corridor in India.
Conclusion. <\/strong>Way forward. <\/td><\/tr><\/tbody><\/table>\n\n\n\n

Industrial Corridors are stretches across the country allocated to a specific geographical area with the intent to stimulate industrial development. It aims to create an area with a cluster of manufacturing or other industries and gives an impetus to smart and sustainable cities by leveraging on the high speed, high connectivity transportation system.<\/p>\n\n\n\n

Significance of Industrial Corridors in\nIndia:<\/strong><\/p>\n\n\n\n

  1. Industrial Corridors recognise the\ninter-dependence of various sectors of the economy and offer effective\nintegration between industry and infrastructure leading to overall economic and\nsocial development. Industrial corridors constitute world class infrastructure\nsuch as high-speed transportation.<\/li>
  2. The establishment of NMIZ in a scattered manner\nalong the industrial corridor across the length of the state would prevent\ndistress migration and provide people with job opportunities close to their\ndwelling place.<\/li>
  3. It will prevent concentration of industries in\none particular location which exploited the environment beyond its carrying\ncapacity and caused environmental degradation.<\/li>
  4. The production of export surplus would generate\nemployment opportunities and raise per capita incomes.<\/li>
  5. Moreover, people would find job opportunities\nclose to their homes and would not have to migrate to far-off places thereby\npreserving family as an institution. This will also increase social integration\nin the country.<\/li>
  6. The spread effects of industrial corridors in\nsocio-economic terms are many such as setting up of industrial townships,\neducational institutions, roads, railways, airports, hospitals that will\ngenerate employment and raise standard of living.<\/li>
  7. Production costs would come down due to improved\ntransportation system and agglomeration effect, making Indian goods competitive\nin domestic as well as foreign markets.<\/li>
  8. Provide necessary logistics infrastructure\nneeded to reap economies of scale, thus enabling firms to focus on their areas\nof core competence.<\/li>
  9. People would find job opportunities close to\ntheir homes which would curb migration towards cities, thus preventing stress\non already burdened urban landscape.<\/li>
  10. Prevention of concentration of industries in one\nparticular location would prevent exploitation of environment as well as ensure\nbalanced development in the country.<\/li><\/ol>\n\n\n\n

    Major industrial corridor in India:<\/strong><\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n
    1. Delhi-Mumbai Industrial Corridor (DMIC):<\/strong> The\nDelhi\u2013Mumbai Industrial Corridor Project (DMICDC) is a planned industrial\ndevelopment project between India\u2019s capital, Delhi and its financial hub,\nMumbai. It is one of the world\u2019s largest infrastructures spread across six\nstates. <\/li>
    2. Chennai-Bengaluru Industrial corridor:<\/strong> It\nis expected to boost commerce between south India and East Asia by enabling\nquicker movement of goods from these places to the Chennai and Ennore ports. The\nproject with assistance from the Japan International Cooperation Agency (JICA)\nwill be developed in collaboration with the governments of three southern\nstates. Both Road and Rail connectivity for Freight movement will be upgraded\nin this corridor.<\/li>
    3. The East Coast Economic Corridor (ECEC): <\/strong>The\nECEC running along the entire east coast of India from Kolkata to Kanyakumari\nis a multimodal, regional maritime corridor that can play a vital role in\nunifying the large domestic market, as well as integrating the Indian economy\nwith the dynamic global value chains of Southeast and East. It would play a\ncrucial role in the Government of India\u2019s (GoI) Make in India campaign and also\nsupports the port-led industrialisation strategy under the Sagar Mala\ninitiative and the Act East Policy by linking domestic companies with the\nvibrant global production networks of East and Southeast Asia.<\/li>
    4. Amritsar kolkata industrial Corridor (AKIC): <\/strong>In\norder to give a boost to industrial development in the densely populated States\nof Northern and Eastern India. The AKIC will also leverage the Inland Water\nSystem being developed along National Waterway-1 which extends from Allahabad\nto Haldia.<\/li>
    5. North East Myanmar Industrial Corridor: <\/strong>It\nhas been initiated from the Tokyo Declaration for India-Japan Special Strategic\nand Global Partnership for enhanced connectivity and development in Northeast\nwhich would catalyse economic development and increase prosperity in the\nregion.<\/li><\/ol>\n\n\n\n

      An industrial corridor is a package of infrastructure spending allocated to a specific geographical area, with the intent to stimulate industrial development. The challenges while creating ICs would include correctly assessing the demand and viability, transport options for goods and workers, land values, and economic incentives for companies. The economic and financial feasibility of ICs should be ensured by attracting potential investors to set up manufacturing units at National Investment and Manufacturing Zones (NMIZs). India will also have to rely on foreign players for innovative technologies. The fundamental focus of ICs should be on improving both Industrial and Urban Infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Demand of the question Introduction. Contextual Introduction. Body. Discuss the significance of Industrial Corridors in India. Mention Major industrial corridor in India. Conclusion. Way forward. Industrial Corridors are stretches across the country allocated to a specific geographical area with the intent to stimulate industrial development. It aims to create an area with a cluster of… Continue reading [Answered] What is the significance of Industrial Corridors in India? Identifying industrial corridors, explain their main characteristics.<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":49132,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-53934","page","type-page","status-publish","has-post-thumbnail","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/53934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=53934"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/53934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/49132"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=53934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}