Rail corridor study to be completed soon

The Centre has initiated a feasibility study on the proposed Chennai-Bangalore-Mumbai industrial corridor. The feasibility study report is expected to be out soon.

Union Minister for Commerce and Industry Kamalnath said the government had planned various industrial corridors in the country to promote investments.

"The feasibility study for the proposed corridor in South India is on. We will examine the report once it is submitted," he said addressing a meet of exporters organised by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here on Friday.

Earlier, exporters from South India said an industrial corridor along the Chennai-Bangalore-Mumbai National Highway (NH) 4 will significantly boost investments in the region. In Karnataka, the NH4 passes through 20 towns in 11 districts, majority of them producing commercial crops and industrial goods.

The exporters contended that the introduction of container trains on the Mangalore-Bangalore railway line will complement the proposed industrial corridor. They said the container trains will also boost exports, particularly commodities like iron ore.

"Many investors, including some Japanese companies, have evinced interest in investing in the project. Japan External Trade Organisation (JETRO) is also keen on taking part in the project. The Centre should expedite the corridor project at the earliest," Karnataka's Industrial Development Commissioner Rajkumar Khatri said.

Federation of Indian Export Organisations Regional Chairman A Sakthivel urged the Centre to announce relief measures to exporters in the wake of the rupee appreciating against the US dollar.

"Exporters are badly hit because of the rupee appreciation. Industries, particularly those employing labour in large numbers, are feeling the heat. The export target for the current fiscal of $160 billion could be a daunting task. The exports could be around $150 billion," he added.