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Proposed industrial cities under DMIC likely to attract $100 bn investment

09 May 2013 Evaluate

In a move to develop the country’s infrastructure, the government is planning to develop industrial cities with world class infrastructure as part of the Delhi-Mumbai Industrial Corridor (DMIC) project, which is expected to attract investment of about $90-100 billion over the next thirty years.

During the first phase of DMIC project, the government has approved financial assistance of Rs 17,500 crore at an average of Rs 2,500 crore per city (subject to a ceiling of Rs 3,000 crore per city) for the development of seven industrial cities including Dadri-Noida-Ghaziabad Investment Region and Ahmedabad-Dholera Investment Region among others. The project also proposed three airports in Rajasthan and Gujarat. Meanwhile, Japan is also providing financial and technical aid for the project. 

Minister of State for Commerce and Industry D Purandeswari said that this project would generate employment to about 2.8 crore people and the employment needed to create the estimated value of output is estimated to be 9.1 million in 2020, 17.5 million in 2030 and 28.7 million in 2040.

Referring to the requirement of land for project, the minister said that the process of land acquisition is in progress is various states. The contribution of the state government will be in the form of land and the cities would be launched with the development of townships of 25-50 sq km which are envisaged to be completed by the end of 2019.

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