Delhi-Mumbai Industrial Corridor

• 23 Nov 2020

Why in News

Rajasthan government has planned two special investment regions along the Delhi-Mumbai Industrial Corridor (DMIC) to generate developmental opportunities for the State.

Key Points

• Background:
  
  • The Government of India is developing various Industrial Corridor Projects as part of the National Industrial Corridor programme which is aimed at development of futuristic industrial cities in India which can compete with the best manufacturing and investment destinations in the world.
    
    • The same will create employment opportunities and economic growth leading to overall socio-economic development.
    • The Programme has an overall sanctioned corpus of Rs. 20,084 crore. 11 Industrial Corridors Projects are being taken up for development with 30 Projects to be developed in four phases up to 2024-25.
    • National Industrial Corridor Development and Implementation Trust (NICDIT) is under the administrative control of Department for Promotion of Industry and Internal Trade (DPIIT) for coordinated and unified development of all the industrial corridors which are at various stages of development and implementation.
• DMIC:
  
  • Delhi Mumbai Industrial Corridor (DMIC) is the first Industrial Corridor project which was announced.
    
    • DMIC Development Corporation (DMICDC) incorporated in 2008, is the implementing agency for the project.
    • DMICDC has been registered as a company with 49% equity of Government of India, 26% equity of the JBIC (Japan Bank for International Cooperation) and the remaining held by government financial institutions.
  • The project aims to create smart, sustainable industrial cities by leveraging high speed, high capacity connectivity backbone provided by the Western Dedicated Freight Corridor (DFC) to reduce logistic costs in an enabling policy framework.
    
    • These new cities will come up in the States of Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra.
    • The 1,504 kms long Western DFC is from J N Port in Mumbai, Maharashtra to Dadri in the state of Uttar Pradesh.
      
      • The DFC project is one of the Indian Railways’ largest infrastructure projects, undertaken by the government at a cost Rs. 81,459 crore.
  • This is the first time that India has embarked on the process of planned urbanisation with manufacturing as the key economic driver.
    
    • The vision for DMIC is to create a strong economic base with a globally competitive environment and state of the art infrastructure to activate local commerce, enhance foreign investments and attain sustainable development.

Source: TH