India today asked the Asian Development Bank to extend the truncated
Visakhapatnam Chennai Industrial corridor both on the northern and the southern
side to cover up to Kolkatta and Kanyakumari. At present the truncated corridor
covers only the state of Andhra Pradesh. The bank has agreed to invest up to
five billion US Dollars on the East Coast Industrial Corridor during the next
Commerce Minister Nirmala Sitaraman who met ADB President Takehiko Nakao on
June 29 told him that the Northern extension of Visakhapatnam Chennai
industrial corridor to cover Odisha and West Bengal was important and that the
bank should accelerate the work on the project.
She also made a mention of the extension of the Corridor on the
southern side up to Kanyakumari and to the proposed port at Colachel.
She also discussed the progress of the Visakhapatnam Chennai
Industrial corridor project and said implementation the project should be
monitored closely and timelines adhered to.
Commerce Minister. Nirmala Sitharaman welcomed and appreciated the
ADB’s efforts for infrastructure development in India.
The ADB President also discussed the progress made on the East Coast
Economic Corridor (ECEC). Mr. Nakao appreciated the Government reforms towards
the GST implementation and termed them as historic. Detailed discussions were held on various
aspects of GST implementation.
Mr. Hun Kim, Director General, South Asia Department, ADB, mentioned
that the bank is willing to step-up investment up to US$ 5 Billion over next
five years for development along the ECEC.