NATIONAL INDUSTRIAL CORRIDOR DEVELOPMENT AND IMPLEMENTATION TRUST (NICDIT)

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 Context:

• Eight Projects under National Industrial Corridor Development and Implementation Trust (NICDIT) have been sanctioned and approved by Government.

National Industrial Corridor Development Corporation (NICDC):

• National Industrial Corridor Development Corporation (NICDC) is a Special Purpose Vehicle that envisages to establish, promote and facilitate development of the National Industrial Corridor Development Programme.
• The current equity shareholders in NICDC include Government of India (49%),represented through the Department for Promotion of Industry and Internal Trade (DPIIT), Japan Bank for International Cooperation (JBIC) (26%) and financial institutions such as Housing and Urban Development Corporation (HUDCO) (19.9%), India Infrastructure Finance Company Limited (IIFCL) (4.1%) & Life Insurance Corporation (LIC) (1.0%).

National Industrial Corridor Development Programme:

• National Industrial Corridor Development Programme is India's most ambitious infrastructure programme aiming to develop new industrial cities as "Smart Cities" and converge next-generation technologies across infrastructure sectors.
• Government of India is developing various industrial corridor projects as part of the National Industrial Corridor Programme which is aimed at the development of futuristic industrial cities in India which can compete with the best manufacturing and investment destinations in the world.
• The same will create employment opportunities and economic growth leading to overall socio-economic development.
• The programme is aimed at providing impetus to planned urbanization in India with manufacturing as the key driver.

NICDIT:

• The NICDIT is the implementing agency of the National Industrial Corridor Programme.
• NICDIT originated in 2007 as the Delhi-Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF).
• 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.

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1897398