Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired the third meeting of the Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT) in New Delhi, reviewing the progress of industrial corridor projects and setting priorities for the next phase of development.
The meeting focused on accelerating infrastructure creation, attracting investments and ensuring that industrial corridor projects translate into operational manufacturing centres and employment opportunities.
Focus Shifts from Approvals to Implementation
Sitharaman welcomed the progress under the National Industrial Corridor Development Programme (NICDP), noting that the growing response from investors indicated strong demand for industrial land and infrastructure. She stressed that new industrial land and infrastructure pipelines should be prepared before existing capacity is exhausted.
The Finance Minister said industrial corridors are central to the government’s strategy to expand manufacturing, improve logistics competitiveness and establish globally competitive industrial ecosystems. She called for a coordinated “Team India” approach involving the Centre and States.
She also highlighted the importance of integrating freight infrastructure, industrial development, railways and expressways under the FIRE Corridors concept.
Sitharaman urged States to move beyond project approvals and focus on completing infrastructure, allotting land, securing investments and commencing production. Issues involving land, connectivity, utilities, statutory clearances and the functioning of project Special Purpose Vehicles (SPVs) need to be addressed promptly, she said.
PM GatiShakti and Integrated Industrial Development
The Finance Minister called for greater use of PM GatiShakti for integrated planning of industrial areas. She also stressed the need for investor-friendly land allotment systems and adequate social infrastructure, including worker housing, healthcare, skill development and public transport.
She noted that government measures such as higher public capital expenditure, support to States under SASCI, improved credit availability for manufacturing MSMEs, and tax and customs initiatives are supporting India’s manufacturing and supply-chain ambitions.
Commerce and Industry Minister Piyush Goyal called for faster and outcome-oriented implementation of industrial corridor projects. He said BHAVYA and future industrial developments should be aligned with PM GatiShakti and planned through an integrated area-development model.
Goyal also emphasised investor outreach and stronger marketing of industrial nodes, including opportunities created by India’s Free Trade Agreements. He suggested exploring country- and sector-specific industrial enclaves and developing locations according to the specific requirements of investors.
Industrial Corridors Show Growing Investor Interest
The National Industrial Corridor Development Programme currently includes 20 approved projects spread across 13 States and seven industrial corridors.
Four industrial smart cities—Dholera, Shendra-Bidkin, Greater Noida and Vikram Udyogpuri—have already entered the production stage. The 12 projects approved in August 2024 are also progressing, with infrastructure development, land allotment and investor engagement taking place simultaneously.
So far, 469 plots covering nearly 5,348 acres have been allotted. These allocations represent an estimated investment potential of around ₹2.21 lakh crore and employment potential of approximately 1.29 lakh people. As many as 134 units are already in production, while another 95 units are under construction.
BHAVYA Draws Strong Response from States
The Apex Authority also reviewed the Bharat Audyogik Vikas Yojana (BHAVYA), which aims to establish 100 investment-ready, plug-and-play industrial parks across India.
Against up to 20 projects proposed for approval in the first round, the government has received 87 applications from States, highlighting strong interest in the initiative.
The appraisal of BHAVYA projects will consider factors such as availability of ready land, industrial demand, connectivity, assured utilities, realistic project phasing and the ability to attract investors at an early stage.
Greater Role for SPVs and Waterways
NITI Aayog Vice-Chairman Ashok Kumar Lahiri called for empowering project SPVs with adequate planning, development and municipal powers. Such delegation, he said, would help reduce dependence on multiple State agencies and enable faster decision-making.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal proposed greater integration of national waterways with industrial corridors. He also called for stronger industrial infrastructure in the Northeast, particularly in areas offering connectivity, land availability, local resources and market opportunities.
The meeting concluded with a clear emphasis on measuring industrial corridor performance through actual investment, production and employment rather than infrastructure creation alone.
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Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
