Delhi Mumbai Industrial Corridor (DMIC)
The Delhi Mumbai Industrial Corridor (DIMC), one of the most lauded infrastructure projects, was designed and built in cooperation with the government of Japan with the goal of advancing India into a major centre for manufacturing and trade. The corridor, which spans six states (New Delhi, Rajasthan, Haryana, Gujrat, Maharashtra, and Madhya Pradesh), will include townships, investment areas, industrial zones and nodes, power plants, cutting-edge logistics facilities, and other infrastructure upgrades.
The project is hailed as the answer to India’s drive to develop top-notch infrastructure that may lower the cost of manufacturing and supplying Indian goods while enhancing India’s ability to compete on the world market.
Economic Output
The project’s total cost is approximately INR 6,350 billion, and it is thought to have a number of advantages. DMIC is anticipated to create 3 million direct jobs, with around two-thirds of those jobs being concentrated in the manufacturing sectors, with the goal of promoting India as the next global manufacturing hub. Ten million new jobs are anticipated to be created in the later stages. Similar to how the industrial output in the six equivalent states is anticipated to more than quadruple from its current level to reach INR 36,000 billion. The export outputs are anticipated to exceed INR 20,000 billion, with a special emphasis on expanding exports.
The project is moving forward swiftly, and the initial stage will shortly be complete. There is currently enough land available to begin the major project (However, as the project will proceed, land acquisition can be a source of challenge).
The distribution of bids and tenders for a number of infrastructure development projects, inclues those at Vikram Udyogpuri near Ujjain, Dholera in Gujarat, and Shendra-Bidkin Industrial Park in Maharashtra. Some investment zones, such as the Manesar-Bawal investment region in Haryana and the Khuskhera-Bhiwadi-Neemrana investment zone in Rajasthan, have received similar green lights.
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DMIC and Real Estate Industry
On the neighbourhood real estate market, the DMIC is predicted to have a very good effect. In addition to creating new commercial and industrial clusters, the vast project will result in a considerable infrastructure overhaul. The expansion of industrial operations will result in a major increase in the demand for office space and industrial real estate. The DMIC is projected to change things for various districts in Rajasthan and Madhya Pradesh that have traditionally suffered a dearth of investment activity, except from locations that are more developed, including New Delhi and Gujarat.
The demand for residential dwellings will rise in line with an increase in employment. Increased economic activity and first-rate infrastructure will lead to more migration, which will drive up housing demand even further
