A premier hub for industrial investments within the country, Andhra Pradesh is leading the phenomenal economic progress of India, which is poised to become the world’s third-largest economy in the coming years. Further solidifying its position as a key player in driving economic growth in the world’s most populous country, the seventh-largest Indian state has consistently prioritised facilitating business setup, wherein, with an allottable land bank of over 40,000 acres, APIIC has developed over 532 industrial estates covering 1.4 lakh acres. It has allotted more than 19,456 units, with potential employment for over 5.54 lakh people and an investment of INR 89,188 crore.
The nation is actively engaged in the development of several industrial corridors through the ‘National Industrial Corridor Development Programme.’ This initiative seeks to establish avant-garde industrial cities capable of rivalling the most competitive manufacturing and investment hubs globally. Industrial development has received a boost with corridor development, which entails establishing a streamlined multimodal transport network within a specific geographical area reinforced by robust infrastructure, efficient logistics, and a conducive policy environment promoting business activities such as trade facilitation. Additionally, the creation of distribution networks connecting production hubs, urban centres, and international getaways, which are integral to corridor development, is proving to be immensely beneficial to the various industries in the corridors—textiles, apparel, electronics, and emerging sectors.
In light of these corridors fostering job creation, spurring economic growth, and driving holistic socio-economic progress, the future seems even more promising for Andhra Pradesh, which is India’s only state that is home to three industrial corridors: Visakhapatnam-Chennai Industrial Corridor (VCIC), Chennai-Bangalore Industrial Corridor (CBIC), and Hyderabad-Bangalore Industrial Corridor (HBIC). The funding support of the Asian Development Bank (ADB) and the National Industrial Corridor Development and Implementation Trust (NICDIT) has been instrumental in these corridors’ development.
Chennai-Bengaluru Industrial Corridor (CBIC)
Implemented with NICDIT’s financial assistance, the three nodes of the Chennai-Bengaluru Industrial Corridor (CBIC) that have been identified for development comprise Krishnapatnam in Andhra Pradesh, Tamil Nadu’s Ponneri, and Tumakuru in Karnataka.
While CBIC’s industrial node at Krishnapatnam spans an area of ~12,000 acres (in three Phases). Phase 1 of ~2,000 acres are under development at an estimated investment of ~INR 1,500 crore. This project, which aims to draw investments totalling approximately ~INR 3,75,000 crores, is expected to create 4.6 lakh job opportunities across three phases by 2040 steering socio-economic development along the way.
Hyderabad-Bengaluru Industrial Corridor (HBIC)
The Hyderabad-Bengaluru Industrial Corridor (HBIC), the approval for which has been recently granted by NICDIT, is on the verge of witnessing the initiation of project development activities for the creation of an industrial node spanning ~9,000 acres at Orvakal.
The project, being implemented with the Government of India’s assistance, is anticipated to offer direct employment opportunities to 2.02 lakh people. With NICDC as the project’s knowledge partner and APIIC serving as the state-level nodal agency, this project holds promise to draw investments amounting to INR 37,300 crores from a range of industrial sectors. This is poised to advance socio-economic development substantially in Kurnool district and its adjacent regions.
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