- Overview: The latest Union Budget has provided a highly targeted fiscal injection into the East Coast Industrial Corridor (ECIC), aiming to radically transform India’s eastern seaboard into an integrated manufacturing and export hub.
- Key Points:
- Geographical Span: The ECIC stretches from West Bengal to Tamil Nadu, directly integrating with major ports under the Sagarmala initiative.
- Global Supply Chains: Designed explicitly to attract ‘China-Plus-One’ investments in electronics, textiles, and automobile manufacturing.
- Multilateral Support: The Asian Development Bank (ADB) continues to be the lead partner in conceptualizing and financing node development (e.g., Visakhapatnam-Chennai node).
- Economic Multiplier: Projected to double the manufacturing GDP contribution of the eastern coastal states while creating millions of formal jobs
Source Link: National Industrial Corridor Development Corporation
- Q10. Which international financial institution is the lead partner of the Government of India in developing the East Coast Economic Corridor (ECEC)?
- A) World Bank
- B) New Development Bank (NDB)
- C) Asian Development Bank (ADB)
- D) International Monetary Fund (IMF)
