Key Takeaways Union Budget 2026–27 Places MSMEs at the Centre of Growth MSMEs are very important for India’s growth and development. They help create jobs, especially in rural and backward areas, which reduces unemployment and poverty. There are more than 7.47 crore MSMEs in India, employing over 32.82 crore people, making them the second-largest source of employment after agriculture. They also contribute a lot to the economy—about 35.4% in manufacturing, 48.58% in exports, and 31.1% to GDP. The Union Budget 2026–27 focuses on helping the poor and disadvantaged and sets three main goals: to boost economic growth, meet people’s aspirations, and ensure equal opportunities and resources for all sections of society. To achieve this, the Budget proposes a three-step plan for MSMEs—providing financial support (equity), improving access to funds (liquidity), and offering better professional and managerial support—so that MSMEs can grow stronger and become leaders in the economy. Budget Reforms and Strategic Initiatives for MSME Sector The Ministry of Micro, Small & Medium Enterprises aims to build a strong and active MSME sector by supporting its growth. It mainly helps states promote entrepreneurship, create jobs, and improve the competitiveness of small businesses. Over the years, the government has steadily increased the budget for this Ministry, with a long-term focus on improving MSMEs through skill development and entrepreneurship. In the Union Budget 2026–27, several steps have been introduced to strengthen MSMEs by improving financial support, encouraging innovation, and making rules simpler, so they can compete better in India and globally. Under the first “Kartavya,” the government has introduced a three-part plan to help MSMEs grow into strong and successful businesses. The Budget also includes a tax-related reform to help MSMEs access global markets. It removes the ₹10 lakh limit per consignment on courier exports, which will make it easier for small businesses, artisans, and start-ups to sell products internationally through e-commerce. It will also improve the handling of returned or rejected goods using better technology for tracking. Powering MSMEs: Policies Turning Potential into Performance  Coclusion Over the years, the MSME sector has become one of the strongest pillars of the Indian economy. It creates a large number of jobs with relatively low investment and plays an important role in developing rural and backward areas. By promoting industrial growth in these regions, MSMEs help reduce regional inequalities and support inclusive economic development. They also act as important support units for large industries, strengthening the overall industrial system. Today, MSMEs are central to India’s growth story. With their wide presence, adaptability, and strength, they are well-positioned to benefit from the growing focus on manufacturing and increasing global trade. The sector is gradually becoming more formal, innovative, and export-oriented, helping India integrate better into global value chains.

Key Takeaways Introduction India is making strong efforts to become self-reliant in critical materials by building its own system for producing Rare Earth Permanent Magnets (REPMs). These are high-performance magnets that are essential for modern technologies like electric vehicles, wind turbines, electronics, aerospace, and defence systems. To support this goal, the government approved a ₹7,280 crore scheme in November 2025 to develop a production capacity of 6,000 tonnes per annum. This plan covers the entire process—from extracting rare-earth materials to manufacturing finished magnets. Along with this, the Union Budget 2026–27 has proposed setting up Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. These corridors will help boost mining, processing, research, and manufacturing activities in this sector. All these steps are in line with India’s larger goals of becoming self-reliant (Atmanirbhar Bharat), achieving Net Zero emissions by 2070, and building a developed nation by 2047 (Viksit Bharat). Strategic Importance and Resource Potential Rare Earth Permanent Magnets are extremely important because they are used in many advanced and future technologies. They play a key role in clean energy systems like wind turbines and electric vehicles, making them crucial for India’s transition to green energy. They are also essential in defence equipment, electronics, and space technologies, which makes them important for national security and technological independence. India has significant reserves of rare-earth elements, especially in coastal sands and mineral-rich regions. This gives the country a strong opportunity to develop its own supply chain instead of depending on imports. By using these resources wisely and building domestic manufacturing capacity, India can reduce its dependence on other countries, strengthen its economy, and become an important player in the global market for advanced materials. India’s Resource Base India has a strong base of rare-earth resources, which can support the development of industries like Rare Earth Permanent Magnet (REPM) manufacturing. The country has around 13.15 million tonnes of monazite deposits, which contain about 7.23 million tonnes of rare-earth oxides (REO). These resources are spread across several states such as Odisha, Kerala, Andhra Pradesh, Tamil Nadu, West Bengal, Gujarat, Maharashtra, and Jharkhand, mainly found in coastal sands, red (teri) sands, and inland alluvial regions. In addition, about 1.29 million tonnes of REO resources have been identified in hard-rock areas of Gujarat and Rajasthan. The Geological Survey of India (GSI) has further strengthened this resource base by identifying 482.6 million tonnes of rare-earth ore across 34 exploration projects. Altogether, these findings show that India has a strong raw material foundation to build a complete REPM manufacturing ecosystem. However, despite having such rich resources, India’s domestic production of permanent magnets is still at an early stage. At present, the country depends heavily on imports—mainly from China—which account for nearly 60–80% of the value and 85–90% of the quantity of demand between 2022 and 2025. With the demand for these magnets expected to double by 2030 due to the rapid growth of electric vehicles, renewable energy, electronics, and defence sectors, it has become very important for India to invest more in this sector. Expanding domestic production will help reduce dependence on imports and ensure long-term self-reliance in these critical materials. Budget Push for Rare Earth Manufacturing and Corridors The Union Budget 2026–27 focuses strongly on making India self-reliant in critical materials. It supports the recently approved Rare Earth Permanent Magnet (REPM) Manufacturing Scheme and introduces new corridor-based initiatives. Together, these steps aim to build strong domestic capabilities, reduce dependence on imports, and help India become a global leader in advanced materials. REPM Manufacturing Scheme To boost self-reliance in critical materials, the government approved a major scheme for Rare Earth Permanent Magnets (REPMs) on 26th November 2025. This scheme provides financial support and incentives to develop a complete domestic manufacturing ecosystem. Union Budget 2026–27: Rare Earth Corridors To support the REPM scheme, the Union Budget 2026–27 has announced Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. These corridors will focus on the entire value chain—mining, processing, research, and manufacturing—by using the mineral-rich resources of these states. This initiative is expected to strengthen local economies, improve research and development, and help India become more integrated into global advanced materials value chains. These corridors also build on the existing presence of IREL (India) Limited in Odisha and Kerala. IREL (India) Limited, earlier known as Indian Rare Earths Limited, has been functioning under the Department of Atomic Energy since 1963. It has a processing capacity of 10 lakh tonnes per year and produces important minerals like ilmenite, rutile, zircon, sillimanite, and garnet. IREL also operates a Rare Earth Extraction Plant in Odisha and a Rare Earth Refining Unit at Aluva in Kerala. These facilities match well with the new corridor plan. By linking IREL’s existing infrastructure with these corridors, the government aims to increase domestic rare earth production, promote advanced manufacturing, and speed up India’s move towards self-reliance and clean energy. Rare Earth Development Aligned with National Goals ndia’s recent policy measures reflect how rare earth development is being aligned with broader national priorities. The focus is not only on industrial growth but also on clean energy, defence, and strategic resource security. Strengthening Global Mineral Partnerships India’s rare earth and critical minerals strategy is not limited to domestic reforms; it is closely tied to international cooperation to build resilient supply chains. Multilateral Platforms Role of Khanij Bidesh India Limited (KABIL) Conclusion India’s rare earth strategy is moving decisively toward self-reliance by combining strong domestic resource potential with targeted policy and financial support. The ₹7,280 crore REPM Manufacturing Scheme and the Union Budget 2026–27 announcement of Dedicated Rare Earth Corridors together create an integrated framework for mining, processing, research, and manufacturing. These measures reduce import dependence, strengthen clean energy and defence supply chains, and align with national priorities of Atmanirbhar Bharat, Net Zero 2070, and Viksit Bharat @2047. Complementary international partnerships and institutional reforms further ensure resilient access to critical minerals. With coordinated domestic and global initiatives, India is positioning itself as a reliable and competitive player in advanced materials value

Why in News? The Union Minister of Finance and Corporate Affairs presented the Union Budget 2026–27 in Parliament, marking the first Budget prepared in the newly inaugurated Kartavya Bhawan.  The Three Kartavyas  What are the Key Highlights of the Union Budget 2026-27? First Kartavya: Accelerate & Sustain Economic Growth  Second Kartavya: Fulfill Aspirations & Build Capacity  The Budget highlights the growing importance of the “Orange Economy” by supporting creative industries. It proposes setting up Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs in 15,000 secondary schools and 500 colleges through the Indian Institute of Creative Technologies in Mumbai, helping students develop skills in creative and digital fields. To strengthen the tourism and hospitality sector, the government plans to establish a National Institute of Hospitality by upgrading the existing National Council for Hotel Management and Catering Technology, which will help bridge the gap between academic learning and industry needs. In the sports sector, the Budget expands the existing Khelo India programme into a full-fledged Khelo India Mission. This mission will focus on identifying and nurturing talent, improving coaching capacity, integrating sports science, promoting competitive leagues, and expanding sports infrastructure across the country. To boost India’s position in global healthcare services, the government has also proposed setting up five Regional Medical Hubs in partnership with the private sector. These hubs will support medical value tourism by offering integrated services such as AYUSH centres, diagnostics, post-treatment care, and rehabilitation. Additionally, to encourage greater participation of girls in science, technology, engineering, and mathematics (STEM), the government plans to establish one girls’ hostel in every district. This will be supported through Viability Gap Funding (VGF) or capital assistance, making it easier for girls to access quality education in STEM fields. Third Kartavya: Sabka Saath, Sabka Vikas  The Budget introduces several initiatives aimed at improving agriculture, social empowerment, healthcare, and regional development. To transform agriculture, the government will launch Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources), a multilingual AI-based platform that will combine AgriStack and ICAR data to provide personalized advice to farmers. Building on the success of the “Lakhpati Didis,” community-owned retail outlets called SHE Marts (Self-Help Entrepreneur Marts) will be established within cluster federations to strengthen women-led entrepreneurship and local economies. In the healthcare sector, the government has reaffirmed its commitment to mental health by announcing the establishment of NIMHANS-2 and upgrading institutes in Ranchi and Tezpur into Regional Apex Institutions. For regional development, especially in the North-East under the Purvodaya focus, a special scheme will be launched to develop Buddhist Circuits across states like Arunachal Pradesh, Sikkim, Assam, Manipur, Mizoram, and Tripura to promote tourism and cultural heritage. Additionally, an East Coast Industrial Corridor will be developed with a key node at Durgapur in West Bengal, along with the creation of five tourism destinations in five Purvodaya states. The Budget also emphasizes inclusive growth by supporting differently-abled individuals (Divyangjan) through targeted welfare efforts, including schemes like Divyang Sahara Yojana, to enhance their empowerment and participation in society. What are the Key Highlights of the Tax Reforms under Union Budget 2026-27?  The Budget introduces major reforms in taxation and business regulations to simplify the system and encourage investment. A new Income Tax Act, 2025 will replace the old 1961 law from 1st April 2026, making tax rules simpler and easier to understand, while tax slabs for FY 2026–27 remain unchanged to ensure stability. Tax Collected at Source (TCS) on overseas tour packages and remittances for education and medical purposes under LRS has been reduced to a uniform 2% without any threshold. To remove confusion, TDS on manpower services is fixed at 1% for individuals/HUFs and 2% for others. The government has also decriminalized cases like not maintaining books of accounts and failure to pay TDS where payments are made in kind. Customs duty on goods imported for personal use has been reduced from 20% to 10%, and full exemption has been provided on 17 cancer drugs and medicines or foods for seven rare diseases. At the same time, Securities Transaction Tax (STT) has been slightly increased in some segments (from 0.1% to 0.15%) to reduce excessive speculation in stock markets. Non-residents paying tax on a presumptive basis will now be exempt from Minimum Alternate Tax (MAT). To improve tax administration, a joint committee of the Ministry of Corporate Affairs and the Central Board of Direct Taxes will align Income Computation and Disclosure Standards (ICDS) with Indian Accounting Standards (IndAS), removing the need for separate ICDS accounting from 2027–28 and simplifying compliance rules. The Budget also grants immunity from prosecution for non-disclosure of foreign assets below ₹20 lakh (with retrospective effect from 1st October 2024). Another key change is that share buybacks will now be taxed as capital gains in the hands of shareholders instead of companies. To promote investment and industry, foreign companies running global cloud services through Indian data centers will get a tax holiday till 2047, and tax holidays in IFSC (GIFT City) for offshore banking units have been extended from 10 to 20 years. Customs duty exemptions are also provided on capital goods for processing critical minerals like lithium and cobalt and for manufacturing lithium-ion cells. In the IT sector, the Safe Harbour threshold has been increased to ₹2,000 crore with a unified category for software development and KPO services. The Budget also focuses on boosting exports and ease of doing business. Duty-free import limits for inputs in marine, leather, and textile sectors have been increased to enhance export competitiveness. In aviation and defence, duty exemptions are provided for parts and components used in aircraft manufacturing and maintenance (MRO). Trade processes will be simplified through a single digital window for cargo clearance, instant clearance for non-compliant goods, rollout of the Customs Integrated System (CIS), and greater use of AI-based container scanning. Additionally, fish caught in the Exclusive Economic Zone (EEZ) or on the high seas will be duty-free, duty-free baggage allowances have been revised, and honest taxpayers will benefit from easier dispute settlement with reduced penalties. Macroeconomic Fundamentals Highlighted in Union

Key Takeways Introduction The Union Budget 2026–27 has introduced an important policy to make India a global centre for digital infrastructure. The government recognizes that technologies like cloud computing, AI data centres, and advanced electronics are becoming key drivers of economic growth. To attract global companies, the government has announced a tax holiday till 2047 for foreign cloud service providers that set up and operate data centres in India. This gives companies long-term financial certainty and encourages them to invest in India. Around the world, data centres are becoming a major area of investment. According to UNCTAD, they made up more than 20% of global greenfield investments in 2025, with over USD 270 billion in planned projects. This shows how countries are competing to attract digital infrastructure, especially due to the rising demand for AI and data-driven services. In this situation, India’s policy aims to bring more investment into the country, strengthen its digital economy, and make it an important part of global digital supply chains, supporting the long-term goal of becoming a developed nation (Viksit Bharat by 2047). Why This Policy Was Introduced? Data centres and cloud infrastructure need very high initial investment and take a long time to become fully operational. Especially for AI-based data centres, companies have to spend heavily on advanced computing systems, electricity supply, cooling systems, and skilled workers. As the global demand for AI computing power is increasing quickly, many countries are trying to attract these investments. In this situation, India’s decision to give a tax holiday till 2047 provides long-term certainty to companies. This makes India more attractive for global cloud providers and helps ensure that important digital infrastructure is built and located within the country. Understanding the Tax Holiday Provision The Budget proposes that a foreign company providing cloud services globally, while utilizing data centre services located in India, will be eligible for a tax holiday extending up to 2047. Under this framework: The exemption applies from Tax Year 2026–27 to Tax Year 2046–47, providing a stable, predictable tax environment for global cloud players investing in India’s data centre infrastructure. Defined Eligibility Framework The exemption is available to foreign companies providing cloud services under a structured framework. A foreign cloud service provider may avail the tax holiday where: Tax Treatment of Domestic Operations Under the proposed framework, profits arising from domestic economic activities will remain taxable as in the case of any other domestic company. These include: Further, where the Indian data centre is a related entity of the foreign company (operating as a cost-plus centre), a safe harbour margin of 15 percent on cost has been proposed. Linkage with Broader Technology Ecosystem Initiatives The tax holiday for data centres is part of a bigger plan in Budget 2026–27 to strengthen India’s overall technology and digital ecosystem. The government is working on different areas—from semiconductors and electronics to IT services and digital infrastructure. India Semiconductor Mission (ISM) 2.0 The government has launched ISM 2.0 to build strong semiconductor capabilities in India. It focuses on: For this, ₹1,000 crore has been allocated in 2026–27. The goal is to support industries like data centres and advanced computing, which depend on semiconductors. Electronics Components Manufacturing Scheme (ECMS) The budget has increased funding for this scheme from ₹22,000 crore to ₹40,000 crore. IT Services Reforms India’s IT sector is a major export earner (over USD 220 billion). To support it, the government has proposed: Overall: These steps aim to make India a strong, self-reliant, and globally competitive technology hub, supporting everything from chip manufacturing to IT services and digital infrastructure. India’s Expanding Cloud and Digital Infrastructure Base India’s cloud and data centre ecosystem is expanding in line with the country’s digital transformation and growing use of AI-enabled applications across sectors. Under the Digital India initiative, the national cloud infrastructure GI Cloud (MeghRaj) has been established to meet government cloud requirements. MeghRaj provides secure, scalable, and elastic cloud facilities for delivery of e-Governance services through the National Informatics Centre (NIC). National Data Centres operate with layered security frameworks supported by empanelled providers meeting international security standards. Industry estimates indicate that India’s cloud data centre capacity has reached around 1,280 MW and is projected to grow four to five times by 2030, reflecting rising demand for digital and AI infrastructure. Expanding AI and Cloud Data Centre Infrastructure Data centres, especially AI-focused facilities, form the backbone of modern digital infrastructure. Investments of nearly USD 70 billion are already underway in India’s data centre sector, with an additional USD 90 billion in announced projects, highlighting the scale of expansion. The proposed tax framework extending to 2047 provides long-term policy visibility for such capital-intensive investments. The tax holiday for foreign cloud providers complements broader technology initiatives announced in Budget 2026–27, including India Semiconductor Mission 2.0 and enhanced allocation for the Electronics Components Manufacturing Scheme, complementing digital infrastructure expansion. Together, these measures strengthen both digital infrastructure and electronics manufacturing capacity. Global Policy Momentum in AI Data Centre Infrastructure Across the world, governments are actively supporting the growth of AI data centres and digital infrastructure because they are now seen as essential for economic and technological development. In the United States, a Presidential order has been issued to speed up the building of large AI data centres. It focuses on: These projects are very large in scale—some require over 100 megawatts of power, showing how massive AI infrastructure has become. In China, companies are also rapidly expanding their AI and cloud infrastructure. They are investing heavily in: This shows that countries see digital infrastructure as the foundation for AI growth and future technologies. In this global competition, India’s policy of offering a long-term tax holiday for data centres gives companies confidence and stability to invest. It helps India attract big investments, build its own digital infrastructure, and become an important player in the global digital economy. Conclusion The tax holiday announced in the Union Budget 2026–27 gives long-term policy stability to global companies investing in cloud services and AI data centres in India, with benefits extending till 2047. Since building data centres requires huge investments and takes time, this kind of long-term clarity helps companies

Key Takeaways Introduction Industrial corridors have become an important strategy for strengthening India’s industrial growth. They help reduce production costs, improve connectivity to markets, and integrate Indian industries with global supply chains. To promote this model, the Government of India, along with State Governments, is developing planned industrial zones with strong transport links such as roads, railways, and ports. This approach is part of the National Industrial Corridor Development Programme (NICDP), which aims to build modern manufacturing hubs with multimodal connectivity and ready-to-use infrastructure for industries. Supporting this vision, the Union Budget 2026–27 announced the development of an integrated East Coast Industrial Corridor, including a well-connected industrial node at Durgapur. These initiatives are creating new greenfield industrial regions designed to attract investment and compete with leading global manufacturing hubs. What are Industrial Corridors and why do they matter? Industrial corridors are planned development zones that connect major economic centres through strong transport networks such as roads, railways, ports, and airports. These corridors aim to create areas where industries can grow quickly and operate efficiently. Their key features include: Why Industrial Corridors Are Important? Industrial corridors help transform regional economies by creating efficient and competitive industrial environments. Their importance includes: Strategic Government Interventions for Industrial Corridor Development As India works towards building modern and well-connected industrial corridors, several government initiatives are helping create a strong foundation for sustainable and competitive industrial growth. National Industrial Corridor Development Programme (NICDP) Under this programme, the Government of India is developing multiple industrial corridor projects across the country. These corridors are planned using the PM GatiShakti framework, which ensures better coordination and multimodal connectivity between major economic and industrial zones. At present, projects are being implemented across 11 industrial corridors. The development of these corridors follows a sustainability-focused approach, aiming to create low-carbon and environmentally friendly industrial cities. Key features of this approach include: Through these measures, the programme aims to build modern, sustainable, and globally competitive industrial regions in India. S. No. Name of the Corridor Major Projects / Nodes 1 Delhi–Mumbai Industrial Corridor (DMIC) Dholera Special Investment Region (Gujarat); Shendra Bidkin Industrial Area (Maharashtra); Integrated Industrial Township – Greater Noida (Uttar Pradesh); Integrated Industrial Township – Vikram Udyogpuri (Madhya Pradesh); Multi Modal Logistics Hub & Multi Modal Transport Hub – Dadri/Greater Noida (Uttar Pradesh); Integrated Multi-Modal Logistics Hub – Nangal Chaudhary (Haryana); Dighi Port Industrial Area (Maharashtra); Multi-Modal Logistics Park – Sanand (Gujarat); Jodhpur–Pali–Marwar Industrial Area (Rajasthan); Khushkhera–Bhiwadi–Neemrana Industrial Area (Rajasthan) 2 Chennai–Bengaluru Industrial Corridor (CBIC) Krishnapatnam Industrial Area (Andhra Pradesh); Tumakuru Industrial Area (Karnataka); Ponneri Industrial Area (Tamil Nadu) 3 Amritsar–Kolkata Industrial Corridor (AKIC) Raghunathpur Industrial Park (West Bengal); Hisar Integrated Manufacturing Cluster – IMC (Haryana); Prag Khurpia IMC (Uttarakhand); Rajpura–Patiala IMC (Punjab); Node near Kanpur for IMC (Uttar Pradesh); Bokaro Node (Jharkhand); IMC at Gaya (Bihar) 4 Vizag–Chennai Industrial Corridor (VCIC) Koparthy Industrial Area; Visakhapatnam Industrial Area; Chittoor Industrial Area (all in Andhra Pradesh) 5 Bengaluru–Mumbai Industrial Corridor (BMIC) Dharwad Node (Karnataka); Satara Node (Maharashtra) 6 Extension of CBIC to Kochi via Coimbatore (ECKC) Palakkad Industrial Area (Kerala); Dharmapuri–Salem Industrial Area (Tamil Nadu) 7 Hyderabad–Nagpur Industrial Corridor (HNIC) Zaheerabad Phase-1 (Telangana) 8 Hyderabad–Warangal Industrial Corridor (HWIC) Hyderabad Phase-1 (Telangana) 9 Hyderabad–Bengaluru Industrial Corridor (HBIC) Orvakal Industrial Area (Andhra Pradesh) 10 Odisha Economic Corridor (OEC) Gopalpur–Bhubaneswar–Kalinganagar Node; Paradip–Kendrapada–Dhamra–Subernarekha Node (Odisha) 11 Delhi–Nagpur Industrial Corridor (DNIC) — Current Status of some projects across Industrial Corridors Name of the Corridor Completed Projects Description Investments Delhi–Mumbai Industrial Corridor (DMIC) Dholera Special Investment Region (DSIR), Gujarat India’s first semiconductor city and the largest DMIC node (920 sq. km). Developed by Dholera Industrial City Development Limited (DICDL). Well connected through NH-8 and Dedicated Freight Corridors with large scalable land parcels for industries. About 22.54 sq. km activation area is nearly complete with full trunk infrastructure. Phase-I cities including DSIR, SBIA, IIT-GN and IIT-VUL have allotted 350 industrial plots, attracting ₹2.02 lakh crore investments in sectors like electronics, renewables, pharma and EVs. Delhi–Mumbai Industrial Corridor (DMIC) Shendra-Bidkin Industrial Area (SBIA), Maharashtra A greenfield smart industrial city in Chhatrapati Sambhajinagar with world-class infrastructure and plug-and-play facilities. Well connected to Aurangabad Airport and the Golden Quadrilateral. Focus sectors include EVs, automotive, aerospace and electronics. Potential to attract ₹67,815 crore investment and generate 55,000+ jobs. Delhi–Mumbai Industrial Corridor (DMIC) Integrated Industrial Township – Greater Noida (IIT-GN), Uttar Pradesh Spread over 747 acres southeast of Greater Noida. Connected to the Eastern Peripheral Expressway and Delhi-Howrah Railway Line. Close to Boraki transit hub and Dadri logistics hub, with access to IGI Airport, Jewar Airport and Hindon Airport. Part of the ₹2.02 lakh crore investments attracted by Phase-I DMIC cities. Delhi–Mumbai Industrial Corridor (DMIC) Integrated Industrial Township – Vikram Udyogpuri (IIT-VUL), Madhya Pradesh Spread over 1,100 acres in Ujjain, forming a key node of the DMIC and supporting the Pithampur-Dhar-Mhow investment region. Located near SH-18 and the Ujjain-Dewas railway line with strong infrastructure such as roads, power, water supply and sewage treatment plants. Included in the ₹2.02 lakh crore investments attracted by Phase-I DMIC nodes. Name of the Corridor Projects Nearing Completion Chennai–Bengaluru Industrial Corridor (CBIC) Tumakuru Industrial Area (Karnataka); Krishnapatnam Industrial Area (Andhra Pradesh) Delhi–Mumbai Industrial Corridor (DMIC) Integrated Multi-Modal Logistics Hub (IMLH) – Nangal Chaudhary (Haryana); Multi-Modal Logistics Hub & Multi-Modal Transport Hub – Dadri, Greater Noida (Uttar Pradesh) Introduction of 12 additional Projects As per the Budget 2024-25 announcement, 12 projects under the National Industrial Corridor Development Programme were approved by the Government of India in August 2024 with a total project cost of ₹28,602 crore. These industrial smart cities are envisioned to develop globally benchmarked manufacturing and investment hubs, featuring plug-and-play facilities, smart city planning, and a walk-to-work ecosystem. They aim to create best-in-class, future-ready infrastructure designed ahead of demand. National Industrial Corridor Development Corporation Limited (NICDC) The National Industrial Corridor Development Corporation Limited (NICDC), earlier known as the Delhi–Mumbai Industrial Corridor Development Corporation (DMICDC), was established in January 2008 by the Government of India. Its main role is to plan, coordinate, and implement the National Industrial Corridor Development Programme (NICDP). NICDC