What is National Industrial Corridor Development and Implementation Trust?

About NICDIT: 

• The NICDIT is the implementing agency of the National Industrial Corridor Programme. 
• The Government of India is developing various Industrial Corridor Projects as part of the National Industrial Corridor Programme.  
• The Industrial Corridors are envisaged to be implemented by a Special Purpose Vehicle (SPV) in the form of a company set up under the Companies Act, 2013 as a joint venture between the central and the state governments.  
• In 2016, the government approved the expansion of the scope of the existing DMIC-Project Implementation Trust Fund (PITF) and re-designated it as NICDIT.  
• Nodal Ministry: Under the administrative control of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

 

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Q1) What is the  National Industrial Corridor Programme?

The National Industrial Corridor Programme (NICP) has been conceived to promote world-class manufacturing facilities and develop futuristic industrial cities in India.

Source: Eight projects under the National Industrial Corridor Development and Implementation Trust (NICDIT) sanctioned and approved by Government