The Asian Development Bank (ADB) is supporting the Vizag-Chennai Industrial Corridor (VCIC) with $631 million in loans and grants to clear infrastructure bottlenecks through new roads, power substations, water supply systems, effluent treatment plants, and drainage systems. ADB also supports the development of reforms to improve industrial policies and business promotion, and to enhance the skills of workers and entrepreneurs.

The goal is to tap India's huge unrealized potential for manufacturing, spurring industrial development and creating millions of urgently-needed jobs.

"Job creation comes mainly from having a globally competitive manufacturing sector," explains Manoj Sharma, Chief of ADB's Urban Sector Group.

"By delivering world-class infrastructure and helping to craft pro-business policies, the VCIC can trigger jobs-rich growth for India. This will help the country reap the economic benefits of its overwhelmingly young population."

The VCIC could close these gaps in combination with the national government's ‘Make in India' campaign to boost manufacturing investment. It will also support the government's Act East Policy, which seeks to integrate India's economy with export markets in Southeast Asia and East Asia.

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