Delhi-Mumbai corridor to get $10 bn from Japan

Commerce and industry minister Kamal Nath said today that the Delhi-Mumbai Industrial Corridor (DMIC) is at an advanced stage of finalisation. Speaking at a Confederation of Indian Industry (CII) meeting, Nath said that the $90 billion project would also attract separate investment of $10 billion, especially in the small and medium sectors, from Japan.

“The route of DMIC would have a long stretch in Madhya Pradesh. It will cover Delhi, Haryana, Rajasthan, Gujarat and Maharashtra,” Nath noted. Though, it is a national priority project, the land for the purpose will be acquired on a voluntary basis. The interests of the people will be considered during the implementation of the project.”

The minister added, “India is a very large consumer market for Japan and can be complemented with Japanese technology. With the upcoming visit of Japanese prime minister Shinzo Abe next month, the bilateral relationship between the two countries would improve further,” he pointed out.

Japan minister of economy, trade and industry Akira Amari said, “Japan will provide all possible assistance for DMIC as it will trigger off a new industrial revolution in India. The DMIC project will focus on wide industrial development in coordination with infrastructure development.”