The Industry ministry has mooted a proposal to set up Manufacturing Investment Regions (MIRs) in lines of PCPIRs to give a boost to the manufacturing sector in the country.

Minister of state for Industry Ashwani Kumar told reporters on the sidelines of the Annual General Meeting of Indian Chamber of Commerce (ICC) here, on Saturday, that the proposal had been circulated to the relevant ministries, adding that the cabinet was likely to give its approval. “It is fairly at an advanced stage,” he said.
Mr Kumar said that MIRs would be set up on the lines of petroleum, chemicals and petrochemicals investment regions (PCPIRs) which would run by a board of management comprising representatives of central and state governments and anchor tenant.

The minister said that these MIRs would typically require an area of 250 square kilometres and would be developed around the existing industries clusters. Mr Kumar said that the government has set a target to maintain a 12 per cent growth in manufacturing sector till 2010, adding that it would generate additional jobs to the extent of 16 million.

Mr Kumar said that the manufacturing sector alone had the potential to contribute 28 per cent of the country’s overall GDP growth. The industry ministry, which is also the nodal body behind the Delhi-Mumbai industrial corridor, was betting big on the potential of the manufacturing sector.

The minister said that Japan External Trade Organisation (Jetro) was carrying out the feasibility for the corridor, which would require an estimated investment of US$4 trillion.

The proposed corridor would pass through the hinterland of Madhya Pradesh, Rajasthan, parts of UP, Delhi, Mumbai and Gujarat.

R&R Bill
On land acquisition for mega projects like PCPIRs, the minister said that it was a state matter. He, however, said that the passage of Relief & Rehabilitation (R&R) Bill in the Parliament would help the state governments in land acquisition. The Bill is likely to be introduced either in the monsoon or winter session of the Parliament.