“Mumbai accounts for a little more than 6% of India's economy, contributing 10% of the country's factory employment, 30% of its income tax collections, 60% of customs duty and 20% of central excise duty collections, and 40% of foreign trade in corporate taxes to the Indian economy. With a population of more than 20 million, Mumbai also happens to be one of the largest consumer markets in the country. Its connectivity to other major consumption markets like Pune, Nashik, Surat and Ahmedabad makes it all the more interesting as a destination for manufacturing operations.
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| Nirav Kothary, JLL India |
Industrial locations in Mumbai are driven by five major corridors:
1. NH–8 to Surat
2. NH–3 to Agra and Delhi
3. NH–222 to Andhra Pradesh
4. NH–4 to Pune, Bangalore and Chennai, and
5. NH-17 to Goa, Kerala and parts of Karnataka.
Most of the industrial representation in Mumbai is accounted for by old MIDC-developed parks. In 2013, the Malaysian oil giant Petronas Lubricants signed a land lease agreement with MIDC for over INR 300 crore investments into the Addl. Patalganga MIDC, and Idemitsu launched the first phase of commercial production of lubricants in Mumbai.
However, the very high land costs in Mumbai have gradually made it difficult for manufacturing players to set up their plants in Mumbai. The Maharashtra Industrial Policy announced in Q2, 2013 has proposed to increase the permissible FSI at its industrial parks from 1.0 to 1.5 to help reduce the high cost co-efficient. This is currently awaiting consensus from the Government.
According to *DIPP data, Maharashtra saw industrial investment of INR 40,658 crore from 2010 up to October 2013 in the form of *IEM implemented, which is nearly 21% of the country’s share in this period.
*DIPP = Department of Industrial Policy and Promotion, Government of India
*IEM = Industrial Entrepreneur Memorandum
Nirav Kothary, Head - Industrial Services, JLL India
About The Report:
Manufacturing Destinations of India: A Real Estate Overview
In this report, we illustrate the trends in the growth of the manufacturing sector in India. The sectors considered for the study include pharmaceuticals/biotechnology, automobiles, heavy engineering, fast-moving consumer goods (FMCG), electronics and communications & aviation. These sectors have been chosen as major manufacturing areas because of their contribution to the manufacturing sector in India.
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