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Top Japanese cos ink pact with state govts, DMIC

The Economic Times:  May, 2010

New Delhi: Top Japanese consultants, including Mitsubishi, Nikken Sekkei and IBM Japan, have joined hands with three state governments and the Delhi-Mumbai Industrial Corridor Development Corporation (DMIDC) to develop eco-friendly infrastructure for new cities planned in the $90-billion Delhi-Mumbai Industrial Corridor (DMIC).

The first phase of the project launched in 2006 will be completed by 2018, said Union commerce and industry minister Anand Sharma at an event on Indo-Japan business potential organised by industry body CII on Friday. “This is by far the world’s biggest infrastructure project,” he said.

The corridor, which will run through six states — Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Gujarat and Maharashtra — is being developed in collaboration with the Japanese government as a global manufacturing and trading hub.

The Japanese consultants will launch feasibility studies to set up the first set of eco-friendly cities in Manesar-Bawal region of Haryana, Dahej, Changodar in Gujarat and Shendra industrial region in Maharashtra, as per the agreements entered into by them, the three state governments and the DMIDC on Friday.

In the first phase, seven cities, each entailing an investment of around $9-10 billion (Rs 40,000-Rs 45,000 crore) ,will be developed.

The minister said the corridor will have a significant impact on employment generation, industrial production and exports. “We expect industrial output to triple and exports to grow four times on the completion of the corridor,” he said.

These eco-cities in India will follow the Japanese model of using industrial wastes as raw materials for other industries to create a zero emission environment and an independent recycling-based society.

The feasibility studies will be financed by the Japanese ministry of economy, trade and industry.

Pointing out that the current level of trade (at about $10-$11 billion) between two countries is below potential, Mr Sharma said both countries were targeting to raise it to $15 billion by 2012.