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Business EconomyPosted at: Jun 29 2017 7:15PM


Sitharaman meets ADB President to discuss development projects

New Delhi, Jun 29 (UNI) Minister of State for Commerce and Industry Nirmala Sitharaman today met Asian Development Bank (ADB) President Takehiko Nakao and appreciated the ADB’s efforts for infrastructure development in India.

She said, “The government would help the States to have the infrastructure projects funding.”

Further, Ms Sitharaman discussed the progress in Vizag Chennai Industrial Corridor (VCIC) and mentioned that the Northern Extension of the ECEC from Vizag to Odisha and West Bengal is very important and ADB should accelerate the work thereon.

She also urged for southern extension from Chennai to Kanyakumari and include up to Kollachal Port and even at Vizhinjam, as this would accrue several economic benefits to these areas.

The minister vouched for close and timeliness monitoring.

Mr Nakao appreciated the government reforms towards the GST implementation and termed it as historic.

Hun Kim, Director General, South Asia Department, ADB, mentioned that they are willing to step-up investment up to five billion dollars over next five years for development along the ECEC.
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