There may be a second industrial corridor in the making. Inspired by the proposed Delhi-Mumbai industrial corridor, the Tamil Nadu government has asked the commerce & industry ministry to consider a Bangalore-Chennai corridor. Government officials believe the corridor would entail an investment of around $20 billion.
“The Tamil Nadu government is of the view that the corridor between Chennai and Bangalore already has several key components in terms of availability of industries, skilled manpower and other basic infrastructure facilities,†said a senior official of the department of industrial policy & promotion (Dipp).
Officials feel the corridor can capitalise on the strengths of Chennai and Bangalore. The international airports in Chennai and Bangalore and the two major sea ports at Chennai and Ennore can further contribute to the growth of this corridor. Bangalore owes its strength to Information Technology while Chennai’s strength lies in automobile technology, manufacturing and electronics. The corridor would also facilitate the development of the neighbourhood within a radius of 20-25 km.
The Tamil Nadu government has said many multinational companies have set up huge manufacturing hubs in Chennai. Several special economic zones are also on cards. While most investments are in the Chennai-Sriperumbudur corridor, companies have already started setting up industries beyond Chennai-Sriperumbudur, and up to Ranipet. The Tamil Nadu government now wants to take this development up to Bangalore along the same highway.
The Centre may soon ask state governments to prepare feasibility reports for the corridor and arrange for finance from Indian as well as international financial institutions. “We think this corridor would benefit from the expertise the government has acquired while developing the Delhi-Mumbai industrial corridor,†an official said.
Meanwhile, the Centre as well as states have started work on the Delhi-Mumbai industrial corridor. States have started demarcating specific areas to be covered in each hub, drawing up plans for their development as industrial hubs with special economic zones, industrial estates, logistics parks and knowledge centres. Source: economictimes
