‘Delhi-Mumbai corridor to set ball rolling for industrialisation in north India’

Connecting industrial corridors and engaging Indian diaspora keys for attracting investment in northern states, industry representatives told at CII meet

pujab

Puja Bhattacharjee | July 24, 2014



Interlinking of Delhi Mumbai industrial corridor (DMIC) with the Amritsar-Kolkata Corridor at Dadri is going to bring a revolutionary change in the world of logistics and northern India stands to benefit the most from it, according to the government.

“DMIC would be a game changer for northern India,” said Amitabh Kant, secretary, department of industrial policy and promotion (DIPP), ministry of commerce and industry. 

“Northern India has youngest population in the world with great enterprising spirit that could lead to transformation of the region with emphasis on labour-intensive manufacturing, planned urbanisation and quality infrastructure”, he said.

Kant, who is the former CEO and managing director of Delhi Mumbai industrial corridor development corporation (DMICDC), was speaking at an event organised by the confederation of Indian industry (CII) to showcase and promote investment opportunities in the northern states.

He said that after allowing 49 percent FDI through automatic route and de-licensing manufacturing of about 60 percent of defence items, there are emerging opportunities in the defence sector. “North India has the potential to emerge as a hub for value added manufacturing in defence sector and the government is taking lot of initiatives towards ease of doing business,” he said.

He assured that DIPP would work in close association with the state governments to spur investments and growth.

Prem Narain, secretary, ministry of overseas Indian affairs, emphasised on the role of states in creating enabling policies and models to attract investments and growth.

He stressed the need for structured engagement with the Indian diaspora for engaging them with Indian growth story.

“State governments in the northern region should associate with overseas Indian facilitation centre to showcase investment projects and opportunities to overseas Indians through state specific investor meets,” he said. He added that the ministry will soon open pravasi bharatiya kendra in New Delhi.

Comments

 

Other News

I believe we are at crossroads, says deputy governor RBI

  Only a bank that fears losing its deposit base or incurring the wrath of its shareholders is likely to recognise losses in a timely manner. In many of our banks, such market discipline is simply not present at the moment, said RBI deputy governor Viral V Acharya.  

India improving rice variety for flood prone areas

Farmers would no longer have to fret when the surging river water inundates their fields as scientists are working on rice varieties that are hardy and would grow in fields which have been submerged by flash floods. Dr Nitendra Prakash of crop research station at Bahraich, Uttar Pradesh told

At 55.28% BMC sees highest voter turnout in 25 years

Mumbai recorded its highest ever turnout in the civic elections on Tuesday with 55.28% voters exercising their franchise. Voter turnout in R Central ward of Charkop-Borivali was 61.5% followed by 60

A mirage called disinvestment

The government is getting ambitious. It wants to divest some PSU shareholding and raise a staggering Rs 72,500 crore during the 2017-18 fiscal. The mood is upbeat among finance ministry mandarins due to the heartening performance of the exchange traded fund (ETF), a basket of 10 bluechip central public ser

Cash Donations: More opacity – with legal backing too

While presenting the budget, the finance minister made an announcement about making donations to political parties more transparent. If the proposals to amend the relevant laws are approved by parliament, from April 2017 donations to political parties can be made in cash only up to Rs 2,000; payments of hi

Is UP headed for a hung assembly?

Is UP headed for a hung assembly?

Video

क्या बागी हो गए हैं वरुण गांधी?
Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter