Lok Sabha Question No. 2894 (UNSTARRED), answered on 2025-03-18
Subject: New Industrial Corridor
Ministry: COMMERCE AND INDUSTRY
Asked by: Shri Kota Srinivasa Poojary

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY

## DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE LOK SABHA

UNSTARRED QUESTION NO. 2894.

TO BE ANSWERED ON TUESDAY, THE 18 TH  MARCH, 2025.

## NEW INDUSTRIAL CORRIDOR

## 2894.  SHRI KOTA SRINIVASA POOJARY:

Will the Minister of COMMERCE AND INDUSTRY be pleased to state:

## वाणिज्य एवं उद्योग मंत्री

- (a) whether  there  are  any  plans  to  develop  new  Industrial  Corridors  or  expand existing ones in Karnataka to boost industrial growth, if so, the details thereof;
- (b) the  details  of  any  ongoing  or  upcoming  industrial  corridor projects,  including funding, expected completion dates and areas covered in Karnataka; and
- (c) the  measures  being  taken  by  the  Government  to  attract  investments  and promote local industry along these corridors, particularly in manufacturing and logistics?

## ANSWER

## वाणिज्य एवं उद्योग मंत्रालय में राज्य मंत्री ( श्री णिणिन प्रसाद ) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI JITIN PRASADA)

## (a) & (b):

Under National Industrial  Corridor  Development Programme (NICDP), industrial  corridors  are  conceived  to  foster  hubs  of  manufacturing  & investment of global standards with plug & play facility, smart cities with walk- to-work concept & creating the best in-class quality infrastructure ahead of demand.  With this aim, the Tumakuru Node under Chennai Bengaluru Industrial Corridor (CBIC) in the State of Karnataka has been approved by Govt. of India on 30 th  Dec, 2020 for the total project cost of ₹ 1,701.81 crore (incl. land cost) for development of trunk infrastructure packages.  State  Govt.  has  transferred  1668.30  acre  land  to  Special purpose  vehicle  (SPV)  namely  CBIC  Tumakuru  Industrial  Township Limited  (TITL)  and  matching  equity  amounting  to  ₹  586.74  crore  has been  released  by  Govt.  of  India  through  National  Industrial  Corridor Development and Implementation Trust (NICDIT). Hon'ble Prime Minister laid the foundation stone on 6 th  February, 2023. Construction work  of  roads,  minor  bridge,  culverts  and  water  treatment  plant  is  in progress. The expected completion for implementation of trunk infrastructure  for  the  above  projects  is  2026-27.  The  target  industry sectors include Food Products, Textile & Apparels, Electronics, Auto & Auto components, Pharmaceuticals, Chemical &  General Engineering.

- (c): Under  NICDP,  the  project  SPVs  allot  developed  land  as  per  land allotment  policy  to  potential  investor  across  various  sectors  including MSMEs  by  following  conducive  fiscal  and  policy  measures.  Further, following several relaxations are offered to Investors which are usually state-specific:
- i. Discount to anchor/ early-bird investors,
- ii. Lease premium payment flexibility with rebate on upfront payment,
- iii. Option for differential lease period at differential rates,
- iv. Extension of date of payment of land premium,
- v. Extension of development period

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