Finance Minister Nirmala Sitharaman reviewed India’s NICDP industrial corridor programme, pushing for faster land allotment and production.

She chaired the meeting on Monday, calling for quicker progress on infrastructure, land allotment and production across the country’s industrial corridors under the NICDP.

The numbers behind the programme are substantial. So far, 469 plots covering around 5,348 acres have been allotted, carrying an estimated investment potential of roughly ₹2.21 lakh crore.

That could translate into employment for around 1.29 lakh people once fully realised. Progress on the ground looks reasonably steady too.

Of the units allotted land, 134 are already in production, while another 95 are under construction. Work is currently underway across 20 approved projects spread over 13 states and seven industrial corridors.

Four industrial smart cities, Dholera, Shendra-Bidkin, Greater Noida and Vikram Udyogpuri, have already reached the production stage. Sitharaman’s message to the states was direct.

She said the next round of industrial land and infrastructure needs to be ready well before current inventory runs out, and pushed for closer coordination between freight movement, industrial development, railways and expressways, a combination officials are now calling FIRE Corridors.

She also asked states to sort out ongoing bottlenecks tied to land acquisition, connectivity, utility access, statutory clearances and the decision-making powers given to project-level special purpose vehicles.

On the funding side, the Department for Promotion of Industry and Internal Trade has released ₹16,172.95 crore so far to the National Industrial Corridor Development and Implementation Trust for corridor development.

Of this, ₹14,569.97 crore has already been passed on to project-level SPVs for on-ground work.

The meeting also touched on a newer initiative, the Bharat Audyogik Vikas Yojana, which aims to build 100 ready-to-use industrial parks across India.

States have submitted 87 proposals so far, against just 20 slots available in the scheme’s first round, a sign of how much demand there is for pre-approved, plug-and-play industrial land.

Tired of missing hot stocks? Tradz by EquityPandit provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!