With reference to the Vizag-Chennai industrial corridor, consider the following statements:
1. It is a part of the Kolkata-Kanyakumari East Coast Economic Corridor.
2. It is funded by the Asian Infrastructure Investment Bank (AIIB) and the Government of India.

Which of the statements given above is /are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) None

Question

With reference to the Vizag-Chennai industrial corridor, consider the following statements:
1. It is a part of the Kolkata-Kanyakumari East Coast Economic Corridor.
2. It is funded by the Asian Infrastructure Investment Bank (AIIB) and the Government of India.

Which of the statements given above is /are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) None

ONLiNE UPSC · Accepted Answer

Statement 1 is correct. The Vizag-Chennai Industrial Corridor (VCIC) is part of the country&rsquo;s East Coast Economic Corridor. This initiative can help unify the large domestic market as well as integrate the Indian economy with the dynamic global value chains of Asia and drive India&rsquo;s Act East policy. VCIC will also be an important component of the government&rsquo;s Make in India campaign to attract foreign investors and encourage the creation of manufacturing hubs in the country.

Statement 2 is not correct. The ADB, which prepared the concept paper, has agreed to give $500 million towards a multi-tranche financing facility and policy-based loan worth $125 million.

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M Question 1	⏱ 0
With reference to the Vizag-Chennai industrial corridor, consider the following statements: 1. It is a part of the Kolkata-Kanyakumari East Coast Economic Corridor. 2. It is funded by the Asian Infrastructure Investment Bank (AIIB) and the Government of India. Which of the statements given above is /are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) None