Central government approves redesignation of DMIC-PITF trust as NICDIT for all industrial corridors

The central government has approved the redesignation of the existing Delhi-Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF) as the National Industrial Corridor Development and Implementation Trust (NICDIT), and expanding its mandate to include the implementation of the five proposed industrial corridors, which will together cover 15 states across the country. The Delhi-Mumbai Industrial Corridor, the first of the planned corridors, is already under development. The Chennai-Bengaluru Industrial Corridor, Bengaluru-Mumbai Economic Corridor, Amritsar-Kolkata Industrial Corridor and the Visakhapatnam-Chennai Industrial Corridor are in various stages of planning. As an apex body, the NICDIT will help streamline activities and facilitate better coordination of the industrial corridor projects that are essential to the country’s goal of becoming a global manufacturing hub.