India-UK decide to develop Economic Corridor together

India and United Kingdom have decided to collaborate to develop the Bangalore-Mumbai Economic Corridor (BMEC)project in close association with private companies from Britain.

Both sides have agreed to examine and evolve the modalities and content of this project through mutual discussions and work out a roadmap for a possible partnership in this area.

In addition to this, India has also offered to UK, investment or partnership opportunities in the National Manufacturing and Investment Zones (NIMZs). . NIMZs are proposed to be developed as green field industrial townships and benchmarked against the best manufacturing hubs in the world.

The new National Manufacturing Policy aims to create 100 million jobs and increase the share of manufacturing in India’s Gross Domestic Product from 16% now to 25% by 2022.

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Categories: Business & Economy Current Affairs 2017

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