Scaling New Heights

Vizag–Chennai Industrial Corridor, India's First Coastal Corridor

Business & Finance, Marketing & Sales, Commerce, Economics, Economic Development
Cover of the book Scaling New Heights by Sabyasachi Mitra, Rana Hasan, Manoj Sharma, Hoe Yun Jeong, Manish Sharma, Arindam Guha, Asian Development Bank
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Author: Sabyasachi Mitra, Rana Hasan, Manoj Sharma, Hoe Yun Jeong, Manish Sharma, Arindam Guha ISBN: 9789292574024
Publisher: Asian Development Bank Publication: May 1, 2016
Imprint: Asian Development Bank Language: English
Author: Sabyasachi Mitra, Rana Hasan, Manoj Sharma, Hoe Yun Jeong, Manish Sharma, Arindam Guha
ISBN: 9789292574024
Publisher: Asian Development Bank
Publication: May 1, 2016
Imprint: Asian Development Bank
Language: English

Spanning more than 800 kilometers of India's eastern coastline, the Vizag–Chennai Industrial Corridor (VCIC) is part of the country's East Coast Economic Corridor. This initiative can help unify the large domestic market as well as integrate the Indian economy with the dynamic global value chains of Asia and drive India's Act East policy. VCIC will also be an important component of the government's Make in India campaign to attract foreign investors and encourage the creation of manufacturing hubs in the country. The new industrial corridor is expected to spur growth by augmenting existing investment in world-class transport networks, infrastructure, and industrial and urban clusters that are supported by a robust institutional framework and a competitive business environment. By linking areas that are lagging in development with dynamic industrial and urban clusters, VCIC will create employment opportunities that alleviate poverty and reduce inequality. As a coastal corridor, VCIC can provide multiple access points to international gateways. Greater connectivity and economic integration between South Asia and the rest of Asia is likely to contribute significantly to development and foster regional cooperation as well.

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Spanning more than 800 kilometers of India's eastern coastline, the Vizag–Chennai Industrial Corridor (VCIC) is part of the country's East Coast Economic Corridor. This initiative can help unify the large domestic market as well as integrate the Indian economy with the dynamic global value chains of Asia and drive India's Act East policy. VCIC will also be an important component of the government's Make in India campaign to attract foreign investors and encourage the creation of manufacturing hubs in the country. The new industrial corridor is expected to spur growth by augmenting existing investment in world-class transport networks, infrastructure, and industrial and urban clusters that are supported by a robust institutional framework and a competitive business environment. By linking areas that are lagging in development with dynamic industrial and urban clusters, VCIC will create employment opportunities that alleviate poverty and reduce inequality. As a coastal corridor, VCIC can provide multiple access points to international gateways. Greater connectivity and economic integration between South Asia and the rest of Asia is likely to contribute significantly to development and foster regional cooperation as well.

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