19.2.13

Mumbai - Bangalore Prosperity Corridor


British Prime Minister David Cameron said he wants his country’s companies to help India develop new cities and districts along a corridor between Mumbai and Bangalore, generating investment worth up to $25 billion.
“With me I’ve got architects, planners and finance experts who can work out the complete solution,” he said. “It would unleash India’s potential along the 1,000 km from Mumbai to Bangalore, transforming lives and putting British businesses in prime position to secure commercial deals.”
Cameron is on a three-day visit to India with the largest trade delegation taken abroad by a British PM. His office said 5.8% of India’s population growth would be in the corridor, contributing 11.8% of the country’s GDP growth by 2020.
The first phase of the corridor would involve investment in physical infrastructure, such as transport networks, telecommunications and power generation. Later construction would concentrate on social infrastructure such as welfare and education.
Cameron’s office said British and Indian officials have been working with business representatives from the two countries on the Mumbai-Bangalore project since last year and had produced an initial assessment of its scale and potential. The British government would be willing to co-fund a feasibility study.


Many places in Karnataka can hope for development under the proposed Bangalore-Mumbai corridor that British Prime Minister David Cameron wants to give a push to.
The corridor is expected to be part of the Peninsular Regional Industrial Development Corridor (PRIDe), which passes through Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra.
PRIDe is an industrial corridor providing potentially strong transport and industrial connectivity linking these states. “Going by the potential, the Bangalore-Mumbai corridor is expected to become Karnataka's industrial and energy spine. The Dabhol-Bangalore gas pipeline project will double the potential in this corridor,” large and medium industries minister Murugesh R Nirani said.
In the first phase, the corridor will be developed till Chitradurga. As it passes through Tumkur, a national investment and manufacturing zone (NIMZ) has been planned. It will be an integrated industrial township spread over 5,000 hectares. “NIMZ will have state-of-the-art infrastructure, planned land use, energy-efficient technology, social infrastructure, skill development facilities. The zone will be managed by a special purpose vehicle and the cabinet has already cleared the project,” Nirani said.
Similar to NIMZ, the government has plans to develop Dharwad as a special investment region (SIR) on 5,000 acres. The SIR will be an amalgamation of several types of industries, focusing on both domestic and export segments. “The region will also provide a platform for captive development which may be required for specific industry types with large footprints,” Nirani said.

In Karnataka, the corridor includes a road length of 550 km (23%) and rail length of 330 km (41%)
Industrial areas to be covered: Vasanth Narasapura (Tumkur), Bharamasagara (Chitradurga), Shimoga, Savanur (Hubli), Haveri, Kushtagi-Gadag, Yelburga (Gadag), Belur (Dharwad), Hukkeri (Belgaum), Navanagara (Bagalkot)

British Prime Minister David Cameron, during his visit to India’s commercial capital sought information on various infrastructural initiatives in Mumbai, including the Delhi-Mumbai industrial corridor, the Navi Mumbai airport and the Nhava-Sewri Link. Transport for London (TfL), which runs an extensive metro network in London, inked a crucial memorandum of understanding with MMRDA for the development of metro systems, exchange of expertise and information.
The MOU was signed in the presence of Maharashtra chief minister Prithviraj Chavan, who said the new partnership would help MMRDA implement and operationalize its plans for setting up a 150-km Metro rail network for Mumbai and another 300-km network in the Mumbai metropolitan region.
Chavan also used the occasion to push for investment. “Our vision is to transform Mumbai into a world-class metropolis, which is estimated to require investment worth US $ 40 billion. Participation of the UK business community will encourage us to plan more initiatives,” he said, adding that Cameron had shown interest in investing in Mumbai and Maharashtra.
Trade between India and UK has grown by 23% in 2010-11, and both countries hope to double the figure by 2015. The British PM lauded the “enormous power” of the Indian economy and said he wanted UK to be “a partner of choice” in India’s growth over the next decade. He hoped India too would work to break the barriers in their two-way exchanges. On their part, Indian entrepreneurs acknowledged that India had posed challenges with the uncertainty of its reform policy and the issue of retrospective taxation, but assured an optimistic outlook on future ties.

1 comment:

way2 college said...

NICE POST!! I would really like to come back again right here for likewise good articles or blog posts. Thanks for providing a nice information.
Top 100 Engineering Colleges in India