Industrial Corridor Projects: Government Initiatives for Entrepreneurship Development

Abstract

The initiative "Make in India" aims to make India a global marketing hub, creating millions of job opportunities to help the country's economic growth. It aims at encouraging not only foreign producers to produce in India but also domestic producers. To this end, the government has begun to take appropriate measures to ease the atmosphere in which the manufacturing units are formed and operated. The industrial corridor project plan is also part of such steps that facilitates business in India's environment. In the 2014-2015 Union Budget, five industrial corridor projects were identified, planned and introduced by the Government of India to provide a driving force for industrialisation and planned urbanization. The study is of an informative nature and is based on secondary information.

The main objective of the study is to analyse the role of the Industrial Corridor Projects in the Make in India campaign of the government. The current status of all the five industrial corridor projects have been analyzed to determine whether the projects in question, aimed at providing manufacturers with a favorable environment for their growth and development and facilitating easy business in the country, will really work to be the pillar of success for the campaign Make in India. Almost all the regions, except north-east region, have been covered in these projects. The industrial corridor projects will give a push to the manufacturing sector in India by eliminating the transportation hurdles and the only 15% of its contribution to the GDP is expected to rise.