“The Delhi-Mumbai Industrial Corridor (DMIC) is major physical infrastructure project passing through six states of India. The ambitious DMIC has received major boost with India and Japan inking an agreement to set up a project development fund. The initial size of the Fund is 10 billion (US$162.0 million). Both the Japanese and Indian Governments contribute equally. The Corridor intends to develop industrial estates and townships in various parts of the country in order to give thrust to manufacturing. Also, the Indian economy is rapidly undergoing urbanization. However, urbanization and industrialization have to go hand-in-hand for progress of a nation. The DMIC will play a prominent role in converging urbanization along with industrialization. The Corridor is estimated to create 2.3 million jobs, industrial output worth Rs 20 trillion along with efficient logistical network. It is expected to reduce the transit time from 60 hours to 36 hours”, said Mr. Bhushan Gagrani, IAS, Chief Executive Officer, Maharashtra Industrial Development Corporation during an interactive meeting on Delhi – Mumbai Industrial Corridor - An Update on Developments in Maharashtra jointly organised on 9th October 2014 by MVIRDC World Trade Centre, All India Association of Industries, Consulate General of Japan, Mumbai and The Indo-Japanese Association.
It is vital to point out that industrial estates limit themselves to manufacturing activities. The task of developing an efficient transit system for transportation of goods from warehouses to markets is thrust upon the Government. The DMIC will assist in building an organised transportation system for the nation. Secondly, industrial estates do not factor in requirements such as residence, medicine and education of their workforce. The DMIC will meet these requirements of its workforce thereby developing an “industrial township” in itself, Mr. Gagrani added.
Hon’ble Mr. Yoshimitsu Kawata, Chief Consul, Consulate-General of Japan, Mumbai said that Japan takes keen interest in the development of DMIC having spent US$ 4.5 billion on the project. Nearly 100 Japanese companies have invested in the Indian economy. Following the successful completion of the DMIC project many more Japanese companies intend to set up base in the nation. The success of the DMIC project is of paramount importance to Japan, Mr. Kawata said.
Mr. Minoo Shroff, Trustee - The Indo-Japanese Association & Chairman - Economic Cooperation Council said that the Indian economy suffers from lack of adequate infrastructure and logistic facilities. The DMIC project is expected to facilitate the same. The project is based on the foreign concept of smart cities. The successful completion of the DMIC project will transform India from a low income nation to a middle income society.
Earlier in his welcome address Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre and President, All India Association of Industries said the DMIC project was taken in the year 2007 with collaboration with Japan. The Corridor will address the lack of quality infrastructure, improve road, rail & port connectivity and recover supply side logistics for the sectors such as agriculture, engineering, textiles, automobiles, IT, etc. The DMIC project will be developing two ports in the states of Gujarat and Maharashtra respectively.
Ms. Rupa Naik, Executive Director, All India Association of Industries and Direct-Projects, MVIRDC World Trade Centre proposed the vote of thanks.

In photo: (L-R): Mr. Minoo Shroff, Trustee - The Indo-Japanese Association & Chairman - Economic Cooperation Council, Hon’ble Mr. Yoshimitsu Kawata, Chief Consul, Consulate-General of Japan, Mumbai, Mr. Vijay Kalantri, Vice-Chairman, WTC Mumbai and President, All India Association of Industries, Mr. Bhushan Gagrani, I.A.S, Chief Executive Officer, Maharashtra Industrial Development Corporation (MIDC), Ms. Rupa Naik, Executive Director, All India Association of Industries, Director-Projects.