Thursday, July 25, 2024

All Roads Lead to Chennai: The industrial corridor will bring a slew of benefits for Detroit of Asia as well as the Southern part of India

Chennai is slowly but surely becoming the industrial hub of South India, if not the entire subcontinent. With the government’s plans to upgrade the highway roads, travel time will be reduced as well as vehicle operating costs. As a major seaport, the city’s proximity to raw materials, easy access to major seaports, airports, and different parts of Southern India has rendered it a major industrial hub.

The presence of industrial corridors, acting as an economic ecosystem, fosters heightened economic activity within the transportation corridor. Like a vital artery, it serves as the central hub of economic vitality in the region.

In 2022, the Government of India greenlit 8 projects to develop industrial corridors between major hubs in the country. These projects will take place under the National Industrial Corridor Development and Implementation Trust (NICDIT).

One of these projects is the 96-km Chennai-Bengaluru Industrial Corridor (CBIC). This project is already underway and is scheduled to be completed by 2025. With the completion of the project, the travel time between Chennai and Bengaluru will be cut to two to three hours.

The project will also increase economic activity in the region by opening up new areas for industrial development. There is potential for manufacturing facilities, warehousing facilities along the corridor. Also, the project will be closer to the port and will facilitate easy cargo movement on the corridor,Suresh Krishna, State President of CREDAI, Tamil Nadu, told The Hindu.

The CBIC will go through cover Chennai, Sriperumbudur, Ponnapanthangal, Ranipet, Vellore, Chittoor, Bangarupalem, Palamaner, Bangarpet, Hoskote, and Bengaluru.

CBIC: Prime Investment Destination

The Chennai Bangalore Industrial Corridor (CBIC) stands as an enticing prospect for investors, offering a multitude of advantages. Positioned at the onset of a major industrial corridor, Chennai promises abundant job opportunities. Escaping urban congestion, many are gravitating towards the citys outskirts, lured by available land parcels, ideal for realizing their dream homes.

This burgeoning industrial landscape has given rise to a thriving economy, with job prospects that foster personal and professional growth. Renowned for its top-notch infrastructure and connectivity, Chennai boasts an exemplary transportation system. This includes ongoing initiatives, including metro expansions toward Parandur, which promise enhanced accessibility for suburban residents, significantly reducing travel times.

Furthermore, Chennais strong economic foundation, fueled by diverse industries like manufacturing, automotive, IT, and logistics along the CBIC, continues to bolster its status as the states economic hub.

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