Scaling New Heights: Vizag-Chennai Industrial Corridor, India’s First Coastal Corridor
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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.
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Spanning more than 800 kilometers of India’s eastern coastline, the Vizag–Chennai Industrial Corridor (VCIC) is part of the country’s East Coast Economic Corridor. This initiative can help unify the large domestic market as well as integrate the Indian economy with the dynamic global value chains of Asia and drive India’s Act East policy. VCIC will also be an important component of the government’s Make in India campaign to attract foreign investors and encourage the creation of manufacturing hubs in the country.
The new industrial corridor is expected to spur growth by augmenting existing investment in world-class transport networks, infrastructure, and industrial and urban clusters that are supported by a robust institutional framework and a competitive business environment. By linking areas that are lagging in development with dynamic industrial and urban clusters, VCIC will create employment opportunities that alleviate poverty and reduce inequality. As a coastal corridor, VCIC can provide multiple access points to international gateways. Greater connectivity and economic integration between South Asia and the rest of Asia is likely to contribute significantly to development and foster regional cooperation as well.
- Tables, Figures, and Boxes
- Lessons from the Past, A Vision of the Future
- Unlocking the Potential of Vizag–Chennai Industrial Corridor Industries
- Revitalizing the Regulatory Framework for Vizag–Chennai Industrial Corridor
- The Locus of Transformation—Four Industrial Nodes
- Boosting Manufacturing Competitiveness—Infrastructure and Connectivity Support
- Taking India to New Heights