According to The Economic Times, the launching of the 1840 km long industrial corridor, better known as the Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC) has brightened prospects of development especially in the border districts of the state of Punjab. General Secretary of Shawl Club (India) Piara Lal Seth was quoted by TOI that, “the ADKIC will usher a new era of development even in the backward regions of border districts of Punjab”. He said that the new infrastructure which would be set up for the ADKIC will give a major push to the industry and trade. According to Seth, The ADKIC will boost job opportunities along with the strengthening of industry in the northern parts of the country including Punjab.
Along the same lines, H.S.Makhni, General Secretary of Textile Manufacturers Association said on the role of Small and Medium Enterprises (SMEs) that “the ADKIC will not only provide jobs but will also opportunities for industry in the northern region including Punjab. The sector is facing acute problems from global markets including China and we need support from the government”. He further added that India had about 4.88 crore SMEs which employed 8.11 crore people and the sector had the potential to grow at an exceptional rate to become one of the primary driver of the Indian economy as it was already contributing upto 9% of the GDP and 36% to the total exports. Leaders in the industry feel that the interest rate for SMEs should be reduced in order to boost growth.
Source: The Economic Times