VCIC intends to complement the ongoing efforts of the Government of Andhra Pradesh (GoAP) to enhance industrial growth and create high quality jobs.
[2] VCIC supports Government of India (GOI)'s strategy to develop industrial corridors of international standards for expanding its manufacturing and services sectors, and creating modern urban centers connected by state-of-the-art infrastructure.
The conceptualization and development of VCIC has received major support from ADB, which carried out analytical work determining the kind of infrastructure and institutional investments necessary to drive manufacturing-led growth in consultation with the Department of Industrial Policy and Promotion, GOI.
[5] VCIC’s long coastline and strategically located ports allow development of multiple international gateways to connect India with global value chains (GVCs) in Southeast and East Asia.
VCIC aligns with the national objectives of expanding the domestic market and supports India’s port-led industrialization strategy (Sagar Mala initiative).
The objective of industrial transformation is to increase the manufacturing sectors, improve labor productivity, and enhance international competitiveness.
On the software side, regulations and their implementation mechanisms are critical for realizing the full economic potential of any industrial corridor.
When equipped with comprehensive infrastructure support and a business-friendly environment, nodes can serve as hubs geared to cradle industries.
The focus has been on assessing the current state of infrastructure, both in terms of quantity and quality across categories, and identifying critical capacity gaps and other issues.
In July 2018, Andhra Pradesh, with a score of 98.42 per cent, topped the "ease of doing business" ranking among Indian states prepared by the World Bank and the Department of Industrial Policy and Promotion (DIPP).
Parameters for the rankings include construction permit, labor regulation, environmental registration, access to information, land availability, and single window system.
The establishment of a regional corridor would lead to the reduction of barriers at national boundaries to enable the seamless movement of people and goods at least cost.