The Delhi-Mumbai Industrial Corridor, or DMIC, is one of the largest infrastructure projects in India, which should stimulate the economy with sophisticated infrastructure that encompasses 24 industrial regions and connects with mega rail and road networks. This mega corridor has boundless backing from an enormous USD 100 billion. Mega infrastructure is not just about connecting two large urban centers but is a cherished strategic vision to take India’s manufacturing capability to a new level, urbanization at a faster pace, and developing India as a global manufacturing hub and a country of export.
In 2008, a solid connection was forged with Japan, marking the beginning of a long-term, ambitious project. The DMIC goes beyond the usual ideas of transportation corridors, evolving into a comprehensive development initiative aimed at boosting employment, enhancing manufacturing capabilities, and doubling exports from its area of influence within five years of becoming fully operational.
What is the DMIC Dholera Project?
It is intended to be a catalyst for industrial growth, urbanization, establishes India as a major manufacturing and trading hub. The project covers a strip of 150-200 km wide on either side of the WDFC along the full length of the western corridor of India, and the affected area is about 440,000 sq km (nearly 14% of the total land area of India).
Importance of DMIC in Economic Growth of India
The Delhi-Mumbai Industrial Corridor is ready to completely reshape India’s industrial and transportation image. This is ready for the establishment of transport connectivity within various states: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, and Haryana. Also, manufacturing hubs and promoting regional economic activities will make it possible for the DMIC to boost GDP growth and huge job creation.
The project is an important part of India’s “Make in India” program and goal at improving the simplicity of doing business by offering high-tech facilities to investors.
The Government’s Vision on DMIC
The central and Gujarat governments imagined and planned this DMIC project as a “Brahmastra” to boost infrastructure development and economic growth.
This project has been recognized as an important component of India’s GDP and economic transformation, with the goal of increasing connectivity between economic hubs and boosting employment in manufacturing units and services.
The government additionally focuses on environmental sustainability and technological advancement in the project’s design.
DMIC Opportunities
DMIC is planned to be developed as a Global Manufacturing and Trading Hub of India and will be built with state-of-the-art infrastructure with the policies that are conducive to doing business. It will become “the engine that powers the country’s economic recovery.”
Key Investment Region
Dholera Special Investment Region (DSIR)
DSIR stands as an important initiative within the DMIC framework located in Dholera, Gujarat. It is being designed as a smart, sustainability city featuring an integrated transit network, an international airport, and logistic hubs covering an area of 920 square kilometers. The city is projected to accommodate more than two million or more residents, developing an example for future urban development in India.
Shendra-Bidkin Industrial Area (SBIA)
Located close to Aurangabad in Maharashtra, this focus will be on textiles, food processing, and defense, engineering, and electronics sectors. The area offers a plug -and-play underground infrastructure, making doing business easy. There’s a lot more to come, which is going to generate a lot of job prospects and attract huge investments.
Khushkhera-Bhiwadi-Neemrana Investment Region (KBNIR)
The KBN region, located in Rajasthan and Haryana, is emerging as a major industrial hub but has faced hurdles in land acquisition, which has delayed its timeline.
DMIC Project Goal
- Increase the employment potential by two times within five years (14.87% CAGR).
- Increase industrial output three times within five years (24.57% CAGR).
- Increase exports from the region four times within five years (31.95% CAGR).
DMIC in Gujarat – Dholera SIR is going to be the ultimate destination.
Among the 24 industrial hubs planned along with DMIC, six points have been offered in the state of Gujarat, which includes two investment regions and industrial hubs.
- Dholera SIR is the first node initiated for development by the Gujarat government.
- 62% of the total region of Gujarat is covered, with 18 out of 26 districts within the area.
- Important cities along the DMIC include Surat, Vadodara, and Ahmedabad.
- A quarter of the total investment will be allocated to Gujarat.
- Projected jobs: 800,000
- The ports of Gujarat are set to serve both international and inland markets.
- Wonderful connectivity among the DFC, nodes, and ports
- Six logistic parks are currently under development along the DFC.
The current shareholding pattern of Delhi-Mumbai Industrial Corridor Development Corporation Limited
- Indian government, ministry of commerce and industries, and department of industrial policy and promotion: 49%
- Financial service limited & infrastructure leasing: 41%
- Infrastructure Development Finance Company Limited: 10%
Conclusion
The Delhi-Mumbai industrial corridor vision is to create a globally competitive environment and state-of-the-art infrastructure to achieve true industrialization. Pitched as the engine for India’s economic resurgence, DMIC will serve as the lynchpin for rejuvenating the industrial landscape, attracting capital, and positioning India as a major force in the world economy.
Source By:- https://www.propnewstime.com/
