DMIC Offers sea of Opportunities for Japanese Investors

NEW DELHI:
The Delhi Mumbai Industrial Corridor (DMIC) is offering massive opportunities for Japanese investors as projects shift gear from planning to implementation stages, while policy and FDI reforms are expected to result in dramatic improvements in the ease of doing business over the next one year, Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP), said.
Addressing a delegation of Japanese businessmen and representatives of government institutions at a special workshop organised by the DMIC Development Corporation (DMICDC) here, Abhishek pointed out that on-ground work has already begun in earnest on key projects, notably in Dholera, Aurangabad, Vikam-Udyogpuri and Greater Noida nodes, where land allotments are expected to begin in a couple of months’ time.
Japan has been one of India’s biggest partners in infrastructure development, supporting projects such as the Delhi Metro, the Dedicated Freight Corridor which forms the backbone of DMIC, and the proposed Mumbai-Ahmedabad Hi-Speed Rail Link.
Kenji Hiramatsu, the Ambassador of Japan, said the intensified efforts towards bilateral cooperation by the Prime Ministers of both countries have given very encouraging signals to the business community.
He said he hoped for time-bound implementation of the projects that have now taken off and also that the Indian government would extend incentives to Japanese businesses relocating to the industrial zones.
Hiramatsu, who had earlier visited the Vikram Udyogpuri Industrial Township site in Madhya Pradesh, said he was impressed by the planning that had gone into it and facilities that were  developed for local communities, including schools and hospitals.
He noted that Japanese companies have had hugely successful Private-Public Partnerships with the Indian government. In Neemrana, Rajasthan, 44 Japanese companies have already set up businesses in the industrial zone where a DMICDC-led Indo-Japan venture is demonstrating the use of clean energy for industrial use.
Since July 2016, another joint venture of DMICDC with Japan’s NEC has been operating a Logistics Data Bank service at JNPT, India’s largest port in Maharashtra, to improve logistics efficiency through real-time tracking of shipment containers.
Nearly 2,80,000 containers had been RFID tagged and de-tagged in July alone, said DMICDC CEO and Managing Director Alkesh Sharma.
He said Japanese companies have opportunities with DMIC in not just setting up industries but also in consultancy and Engineering Procurement Construction, among others.
Besides the industrial cities along the corridor, the DMICDC is also working on standalone projects such as green field airports in Dholera (Gujarat) and Kotkasim (Rajasthan); the futuristic Global City in Gurgaon (Haryana); Logistics Hubs in Dadri (UP), Sanand (Gujarat) and Nangal Chaudhary(Haryana); a state-of-the-art Convention Centre in Dwarka, Delhi and Mass Rapid Transit Systems along Ahmedabad-Dholera and Gurgaon-Bawal routes.
Abhishek Chaudhary, Vice President – Corporate Affairs, HR & Company Secretary, DMICDC made a detailed presentation on DMIC projects and investment opportunities.
Takema Sakamoto, the Chief Representative of Japan International Cooperation Agency’s India Office, made a presentation on JICA’s support for the Western Dedicated Freight Corridor, while Ichiro Hayashidani of Japan Bank for International Cooperation spoke about JBIC’s support for DMIC project.
Mohammed Suleman, Principal Secretary (Commerce and Industry), Govt. of MP; Ajay Bhadoo, CEO of the Gujarat Infrastructure Development Board and of the Dholera SIR; Deepak Agarwal, CEO, Greater Noida Industrial Development Authority (GNIDA); and Vikram Kumar, Joint CEO, MIDC, representing Madhya Pradesh, Gujarat, Uttar Pradesh and Maharashtra, made presentations on the industrial nodes being developed in their states.
They also assured the participating businesses that the quantum of incentives offered to investors by their respective governments will remain unchanged even after the Goods and Services Tax (GST) system replaces the current tax regime.