The Rajasthan government has recently announced plans for two special investment regions along the Delhi-Mumbai Industrial Corridor (DMIC). These regions are being developed in order to create new developmental opportunities within the state.
National Industrial Corridor Programme
The Indian Government is working on a project called the National Industrial Corridor programme. Its main focus is on the development of future-forward industrial cities within India that can effectively compete with some of the best international manufacturing and investment destinations. This program, sanctioned with a corpus of Rs. 20,084 crore, is designed to foster job creation, stimulate economic growth, and promote overall socio-economic development.
Industrial Corridor Projects: A Comprehensive Overview
As part of the National Industrial Corridor programme, 11 Industrial Corridors Projects are underway. These projects will be developed in four phases that extend up to the year 2024-25. All these industrial corridors are under various stages of development, and their coordinated, unified tasks are overseen by the National Industrial Corridor Development and Implementation Trust (NICDIT). The NICDIT operates under the administrative control of the Department for Promotion of Industry and Internal Trade (DPIIT).
Delhi Mumbai Industrial Corridor (DMIC): The Flagship Project
The DMIC is the first project under the Industrial Corridor initiative. It is being executed by the DMIC Development Corporation (DMICDC) which was set up in 2008. The ownership of the DMICDC is distributed with a 49% equity share held by the Government of India, a 26% share by the Japan Bank for International Cooperation (JBIC), and the remaining by government financial institutions.
Objective of the DMIC
The DMIC aims to establish smart, sustainable industrial cities that take advantage of the high-speed, high-capacity connectivity provided by the Western Dedicated Freight Corridor (DFC). This strategy is intended to lead to decreased logistic costs within an encouraging policy context. The participating states for developing these new cities are Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat, and Maharashtra.
Western Dedicated Freight Corridor (DFC): A Brief Overview
The Western DFC, integral to the DMIC, stretches over 1,504 kms from J N Port in Mumbai, Maharashtra to Dadri in Uttar Pradesh. This DFC project is one of Indian Railways’ most substantial infrastructure projects, sponsored by the government at a cost of Rs. 81,459 crore.
India’s Initiatives towards Planned Urbanisation
This venture marks India’s first concerted move towards planned urbanisation with manufacturing as a crucial economic determinant. The vision for DMIC involves the creation of a robust economic foundation with a globally competitive atmosphere and superior infrastructure. The aim is to trigger local commerce, escalate foreign investments, and achieve sustainable development.
Last Modified: February 9, 2024