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Business Exclusive News

CBIC might progress faster than DMIC

Chennai, Mar 6 ():  Chennai-Bangalore Industrial Corridor (CBIC) is shaping up well with the recent submission of first interim report on the Master Plan by Japan International Co-operation Agency (JICA). Phase-I of this project will start from Chennai to Bangalore and will later be extended up to Andhra Pradesh. CBIC is expected to develop trade & commerce between South India and East Asia. The project was initiated in 2010.

Earlier in 2006, Delhi-Mumbai Industrial Corridor (DMIC) was planned and the project has now made significant progress with active involvement of Japan. After the NCR region, with majority of the Japanese companies concentrating towards South India, the Indian and the Japanese governments are working on a mutually complementary manner to offer world-class infrastructure and manufacturing destinations in these regions.

CBIC and DMIC projects are being funded partly by the Japanese Bank for International Co-operation (JBIC) and JICA. There are about 26 projects planned for both the Industrial Corridors. These projects can be compared to the north-east megalopolis in the USA and Taiheiyo Belt (also called Pacific Belt) in Japan.

CBIC is expected to move at a faster pace as compared to DMIC. DMIC is a green field project and there were issues related to land acquisitions. DMIC will be the largest project for JICA in the world. So, with the DMIC experience, CBIC will hope to move at a faster and smoother pace.