Saturday, March 29, 2008

BMIC promises development all along

BMIC promises development all along
When the BMIC opens up, it will pave the way for growth and development in the region apart from creating the much-needed connectivity, says Deepti Ganapathy

How a city plugs into the world economy impacts local growth patterns and offers opportunity for development. It influences a city's economic prospects by determining how many high-paying service jobs are locally created. And it helps shape what types of development a city attracts and retains. In short, global connectivity has become the new urban barometer - a statistic that will help reveal the health and strength of cities and regions. This is the main reason why Mysore will be making giant strides in growth and
be the next destination for the investors, developers and job-seeking employees.
The three decisive projects that will boost connectivity will be the Bangalore-Mysore Infrastructure Corridor Project (BMIC), doubling of the railway track and the airport that is coming up. Once these three projects are in place, the road, rail and air connectivity that the city will enjoy will have a far-reaching impact on growth all along.
"The 111 km BMIC expressway will act as a catalyst for development in the region", says Manjnath Nayaker, General Manager, Public Relations and Liason, Nandi Infrastructure Corridor Enterprises. "This corridor will give greater access to the IT companies, as it connects the Electronic city in Hosur directly to Mysore. The new townships and industrial areas along the corridor will help decongest the city and the expressway will create thousands of new jobs in the existing and new townships, from Bangalore to Mysore. It will open up immense job opportunities", adds Manjunath.
Connectivity and growth
The first trend for any city that is perceived to register growth is the reaction in the real estate market. The correlation of good connectivity and development can be gauged by the fact that emphasis is being given to connectivity which will play a key role. Hence, these projects will be keenly followed and tracked by investors.
Optimism is evident among the members of the IT Forum, Mysore chapter, who said IT business in the city was expected to grow 300 percent during the next few years and the quality manpower output from the University of Mysore and other institutions was set to fuel the city's IT ambitions. With nearly 7,000 English speaking graduates emerging from the city's educational institutions, the entry of business process outsourcing firms and top MNCs in the city, the economy of the city is booming.
Development along BMIC According to Pradeep Mehta, Managing Director of Austrian-based firm AT&S, the industrial and residential townships along the BMIC will give a boost to development in the region. "The growth here would be tremendous in such a scenario," says the former CII Chairman.
The biggest eco-township of 4,000 acres will be situated close to Srirangapatna. Apart from these townships, a stateof-the-art facility comprising three large convention halls which can accommodate 40,000 square metres of exhibition space will also be an added attraction.
"If this corridor opens up, it will bring in investments to Mysore," says K Venkatesh, Head of Operations, Wep Peripherals. "People will start living in Mysore and operating in Bangalore, much like the Pune-Mumbai situation. This will result in an economic boom, with housing and other related enterprises taking off."


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