Industrial corridor project of huge economic importance: Sharma

Anand Sharma chairing the meeting of the Consultative Group on Exports of Pharmaceutical Products, in New Delhi on July 03, 2012.

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SME Times News Bureau | 05 Jul, 2012
Commerce, Industry and Textiles Anand Sharma Wednesday said that the Delhi-Mumbai Industrial Corridor (DMIC) project has huge economic and social importance.

Chairing a Parliamentary Consultative Committee Meeting, Sharma said, "The project has huge economic and social importance. . . this is perhaps the most ambitious infrastructure project in the world with estimated investments of over US $ 100 billion."

Sharma further added that the project envisaged doubling of employment potential within five years, tripling of industrial output, and quadrupling the exports from the region.

Highlighting that the Japanese government has committed US $ 4.5 billion for the first phase of the project – laid across Uttar Pradesh, Haryana, Maharashtra, Gujarat, Madhya Pradesh and Rajasthan – Sharma said that the Indian government has "decided to finance the entire trunk infrastructure in these townships while the internal infrastructure would be developed on a PPP model."

Sharing with the members the development that the perspective plan for the entire corridor has been completed, Sharma further said that "detailed environmental impact assessment for all the six cities is in progress and we are aiming to secure pre-clearances to ensure speedy implementation."