India and ADB
In the Spotlight
The service sector has been a driver of the Indian economy but the country needs to expand its manufacturing base – through initiatives like Make in India and the development of economic corridors – if it hopes to reach the next level of growth, according to the Asian Development Bank report, Scaling New Heights: Vizag-Chennai Industrial Corridor, India’s First Coastal Corridor.
As economies slow in much of Asia, India bucks the trend, powering growth in South Asia.
India's first coastal economic corridor can help unify the country's domestic market, integrate its economy with Asia's global value chains, and support the Made in India initiative to spur manufacturing.
ADB supports India’s vision of faster, inclusive, and sustainable growth. The latest Development Effectiveness Brief captures the core of ADB's operations in India and showcases select interventions that are helping the government achieve its development goals.
ADB assistance supports the Government of India’s evolving priorities. ADB’s country partnership strategy, 2013-2017 for India aims to support the government’s Twelfth Five-Year Plan priorities of “faster, more inclusive, and sustainable growth.” In line with the government’s guiding principle that multilateral development partners add value beyond tangible investments, ADB builds in innovations and best practices in project design and implementation.