The vision for DMIC is to create a strong economic base with global competitive environment and futuristic infrastructure to activate local commerce, enhance foreign investments and attain sustainable development.
Delhi-Mumbai Industrial Corridor (DMIC) is to be conceived as a model industrial corridor of international standards with emphasis on expanding the manufacturing and service base and develop DMIC as the ‘Global Manufacturing and Trading Hub’.
“The Development Plan, taking into account the DMIC objectives and goals should focus towards creating and enabling environment to protect local industries, enhance investment climate, improve quality of life, upgrade human skills, create world class infrastructure and attract global investment”.
Delhi – Mumbai Industrial Corridor (DMIC)
DMIC: a high impact industrial area within 150 kms distance on both the sides of the DFC.
14% area under Influence & 17% population of the country under influence too.
Total population: 173.4 Million
Total workers: 68.36 Million
Total 82 districts of six states within the influence area (excluding MP),
25 industrial nodes have been proposed along the DMIC.
The Government of India is setting up a multi-modal Dedicated Freight Corridor (DFC) between Delhi and Mumbai. Out of the total 1483 kms of the length of DFC, 38% is falling in Gujarat. The area of 150 kms on the both the sides of the DFC will be developed as DMIC. It will be a high impact industrial corridor.
DMIC is to be developed as a Global Manufacturing and Trading Hub of India supported by world class infrastructure and enabling policy framework. It will become “the engine for economic resurgence of the country”.
DMIC Project Goals:
Double the employment potential in five years (14.87% CAGR).
Triple industrial output in five years (24.57% CAGR).
Quadruple exports from the region in five years(31.95% CAGR).
DMIC in Gujarat:
Dholera SIR to be the most prime location.
Out of the total twenty four industrial nodes planned along the DMIC, six nodes (two investment regions and four industrial areas) have been proposed for Gujarat.
Dholera SIR is the first node taken up for development by the Government of Gujarat.
Dholera will set an example of a perfect sustainable city with lush green garden and field on one side and skyscrapers on the other. This will make the place an apt blend of nature and technology.
62% of the total area of Gujarat covered.
18 out of 26 districts within the influence area.
Major cities on DMIC: Ahmedabad, Vadodara & Surat.
1/3rd of total investment will be in Gujarat.
Estimated employment: 8 lacs
Gujarat’s ports to cater to foreign & hinterland markets
World class connectivity between the ports, nodes & DFC.
Six logistics parks being developed along the DFC.
The project goals for DMIC are:
The developmental planning for DMIC aims to achieve certain end results with implementation that would ensure realization of proposed vision for the project and lead to economic development.
Target population 2.0 million by year 2040.
Target employment 0.8 million by year 2040.
Eight core industrial sectors.
The Government of India has incorporated a special purpose aisle, Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) which is specially anticipated to coordinate DMIC project development, finance and implementation. It is headed by a full time Chairman and Directors and has representation from the Government of India and financial institutions.
An apex authority has been constituted under the chairmanship of Union Finance Minister with concerned Central Ministers and Chief Ministers of respective DMIC states as members for providing overall guidance for planning and issue necessary approvals.
DMICDC will undertake project development activities for various central government projects and also help in assisting state governments, wherever desired. DMICDC will be responsible for assisting state governments in raising finances on the basis of a sovereign guarantee. The corporate entity will have a shell structure with 49% contribution by GOI and the remaining by financial institutions and other infrastructure organizations.
DMICDC will also act as a pass through entity for specific projects and raise Project Development Fund (PDF) from GOI, GOJ and FIIs. The PDF is proposed to be used as a revolving fund; specifically for undertaking project development activities (e.g. DPR preparation etc.), and shall be recovered from the successful bidders. This fund will also ensure availability of uninterrupted funds for various preparatory activities. The designatories of respective state governments and the DFC implementing agency could be represented as directors on the Board of DMICDC.
It is proposed that funding for DMIC project could be either through nodal agencies (budgetary/extra budgetary provisions) or through Viability Gap Funding (VGF)/Long Term Soft Loans (LTSL) extended to the Project SPVs. DMICDC would facilitate this process by using a sovereign guarantee provided by the central government. Moreover, the SPVs could also borrow on their own balance sheets or project resource basis.
Current shareholding pattern of DMICDC :
Department of Industrial Policy and Promoition, Ministry of Commerce and Industries, Government of India