What is National Industrial Corridor Development and Implementation Trust?

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What is  National Industrial Corridor Development and Implementation Trust? Blog Image

Overview:

Recently, eight projects under the National Industrial Corridor Development and Implementation Trust (NICDIT) have been sanctioned and approved by the Government of India.

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.

 


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