The Government has approved the expansion of the mandate of Delhi Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF) and re-designated it as National Industrial Corridor Development and Implementation Trust – NICDIT.
NICDIT | About
- NICDIT is an apex body under the administrative control of Department of Industrial Policy and Promotion (DIPP) for coordinated and unified development of the following industrial corridors:
- Delhi Mumbai Industrial Corridor (DMIC)
- Chennai Bengaluru Industrial Corridor (CBIC)
- Amritsar Kolkata Industrial Corridor (AKIC)
- Bengaluru Mumbai Industrial Corridor (BMIC)
- Vizag Chennai Industrial Corridor (VCIC).
- NICDIT will support project development activities and appraisal, approval and sanction of projects as per extant delegation. It will also coordinate and monitor all central efforts for the development of Industrial Corridor projects.
- Government of India (GoI)’s contribution to NICDIT will be used as a revolving corpus. Investments into the SPVs by Government of India will be routed through NICDIT so that all debt service payments by SPVs and proceeds from equity disinvestment from SPVs including SPVs developed by Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) by utilizing grants given by GoI can be ploughed back into the corpus enabling NICDIT to support the development of more industrial cities in future.
NICDIT | About DMIC
- Delhi – Mumbai Industrial Corridor (DMIC) is India’s most ambitious infrastructure programme aiming to develop new industrial cities as “Smart Cities” and converging next generation technologies across infrastructure sectors.
- The objective is to expand India’s Manufacturing & Services base and develop DMIC as a “Global Manufacturing and Trading Hub”.
- The programme will provide a major impetus to planned urbanization in India with manufacturing as the key driver. In addition to new Industrial Cities, the programme envisages development of infrastructure linkages like power plants, assured water supply, high capacity transportation and logistics facilities as well as softer interventions like skill development programme for employment of the local populace.
- In the first phase eight new industrial cities are being developed.
- The programme has been conceptualized in partnership and collaboration with Government of Japan.