Mascot Infrastructure commences development of Mascot Industrial City
PNN
Ahmedabad (Gujarat) [India], May 1: Mascot Infrastructure, Gujarat's leading real estate and industrial park developer, has officially commenced work on its most ambitious project yet, the Mascot Industrial City, at Vithalapur in Ahmedabad district. Spread across 385 acres, the integrated township is set to emerge as a transformative manufacturing and logistics hub in one of the fastest-growing industrial corridors in the country and boost economic development.
The groundbreaking ceremony, held on Wednesday, was attended by a host of dignitaries, including Industries Minister Balvantsinh Rajput, former Deputy Chief Minister Nitinbhai Patel, Mehsana MP Haribhai Patel, and former Home Minister Rajnibhai Patel, among others.
Mascot Infrastructure, which has delivered over 60 million square feet of space over the years, showcased the project's expansive facilities and forward-looking amenities during the event. The foundation stone was also laid for a wide range of developments within the township, including a Dormitory Complex comprising 31 towers with 12,500 beds, 350 1BHK apartments, 290 2 & 3 BHK apartments, a shopping mall, food court, hotel, school, and fuel station.
In a strong show of investor confidence, 13 companies also laid foundation stones for their projects at the site on the same day. These include Luxor Industries, Abhi Metals, Toshee Industries, Mysore Tubes Suppliers, K Power Control, V Bros Auto, among others.
Speaking on the occasion, Sanjay Patel, Managing Director of Mascot Infrastructure, said, "The Mascot Industrial City marks a defining moment for us and Gujarat's industrial ecosystem. We are not just building a township, but are shaping a dynamic, inclusive, and globally competitive environment that enables industries to thrive. We are confident this project will play a key role in India's Make in India vision and become a model for industrial townships across the country."
Mascot Industrial City is Mascot Infrastructure's sixth and largest project to date and builds on a successful track record of five integrated industrial and logistics parks across Ahmedabad, Vadodara, and Surat. Mascot Infrastructure signed a Memorandum of Understanding for the project at the Vibrant Gujarat Global Summit 2024 in the presence of Chief Minister Bhupendra Patel.
Strategically located near the Vithalapur auto cluster, the park boasts a 1 km frontage along a four-lane state highway and enjoys connectivity to major infrastructure projects including the Delhi-Mumbai Industrial Corridor, Dholera SIR, GIFT City, and Sanand GIDC. The site also has easy access to key ports such as Kandla, Mundra and Dahej, enabling smooth logistics operations.
Meticulously master-planned, Mascot Industrial City features clearly demarcated industrial, residential and commercial zones. The offerings include industrial plots, plug-and-play factory units, Grade A warehouses, and comprehensive residential facilities. The infrastructure blueprint includes 18-30 metre-wide roads, multiple entry points, and sustainable solutions such as solar-powered street lighting, electric shuttle services, and e-cart mobility.
With clients from eight countries, including India, Japan, the US, Germany, Taiwan, Turkey, the UK, and China, Mascot Infrastructure has cemented its reputation as a reliable partner for global manufacturing. The new township will offer build-to-suit capabilities, ready factory spaces, and an ecosystem that promotes rapid scalability for industries.
Located approximately 75 km from Ahmedabad, Vithalapur is a key automobile manufacturing hub, home to major players like Maruti Suzuki and Honda Motorcycle and Scooter India. The Japanese External Trade Organization (JETRO) has also secured 1,200 hectares in the vicinity for nearly 30 OEMs. Mascot Industrial City is poised to facilitate sustainable and inclusive industrial growth and further enhance the region's strategic importance on the global industrial map.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
an hour ago
- Business Standard
Solarium Re-Enters into Manufacturing Solar Modules: latest Technology & 1 GW Capacity
PNN New Delhi [India], June 11: Solarium Green Energy Limited (Solarium), a market leader in rooftop solar projects in India, is planning to re-enter the manufacturing of Solar Modules using the latest technology of fully automated machinery with higher capacity. The facility will be installed with a production capacity of ~1000 MW (megawatt) at Ahmedabad, Gujarat, India, at an estimated project capex cost of ~Rs70 crore + requisite working capital via a mix of debt to equity in a ratio of 3:1. This strategic move is part of the company's backward integration initiative. In EPC projects, solar modules typically account for approximately 50-60% of the total project cost. By setting up an in-house module manufacturing facility, the company aims to mitigate cost volatility, expedite project execution, and secure its supply chain along with improvement in margins. The facility will focus on the production of Crystalline Silicon Solar PV Modules, utilizing advanced technologies such as TOPCon cells, half-cut cells, and bifacial cells using imported tabber-stringers, laminators, and sun simulators to ensure high-quality output and efficiency. Commenting on the strategic move of backward integration and foray into manufacturing, Mr. Ankit Garg, Chairman and Managing Director, Solarium commented, "We are excited to re-enter the manufacturing space and are confident of the synergy this module manufacturing will bring to our supply chain. There are 3 key components in a Solar Plant; Solar Module, Inverter & Structure. At 85% plant utilization, the plant can generate a revenue of Rs.1,000+ crore annually (If Modules get sold in the market). While captive consumption of Modules, by eliminating third-party markups, we expect the gross margin to improve by 5%-8% in the projects where these modules will be used." Additionally, Solarium is also initiating the manufacturing of structures--one of the three core components of a solar plant--at its existing facility in Bavla, Gujarat. This move will further enhance execution capabilities and reduce project timelines. In line with its integrated strategy, Solarium recently announced a collaboration with WattPower Systems Pvt. Ltd. to expand the distribution of high-quality solar inverters across Madhya Pradesh and Maharashtra. The Ahmedabad manufacturing facility is aimed at mitigating supply chain risks arising from trade-related disruptions, geopolitical uncertainties, and price volatility. With the industry's future prospects looking robust on the back of India's solar energy potential to reach about 750 GW by 2047, any additional capacity available post captive consumption will be used to cater the other EPC players/B2B segment by selling the Solar Modules alone. The upcoming in-house manufacturing capacity is expected to strengthen Solarium's bidding capabilities across both B2G and B2B segments, positively influencing its ability to secure a higher volume of orders going forward. This move will also build greater trust with B2C customers through guaranteed quality and reliability. The commercial operation is expected to be commissioned from Q4 of the current FY. About Solarium: Founded in the year 2018, Solarium is a leading provider of turnkey solar solutions, offering a complete range of services such as design, engineering, procurement, testing, installation, commissioning, and full-scale operation and maintenance (O & M), along with a variety of solar products such as PV modules, inverters, and Availability Based Tariff (ABT) meters. The company is founded by first-generation entrepreneurs with 21+ years of combined experience in the solar space. The company is among the market leaders in the residential rooftop projects for the B2C segment in the residential category, with 65+ MW projects executed across 18,000+ homes via in-house sales team and 350+ channel partners. The company also caters to commercial & industrial projects and Government projects with 35+ MW rooftop projects and 30+ MW ground mounted projects executed over the years. Solarium has gained a significant market share by offering comprehensive solar solutions at competitive prices, backed by exceptional execution and high customer satisfaction.
Time of India
an hour ago
- Time of India
"India created distinct identity on global stage under PM Modi": Uttarakhand CM Dhami
Uttarakhand chief minister Pushkar Singh Dhami (ANI) DEHRADUN: As Modi government completed 11 years at the centre, Uttarakhand chief minister Pushkar Singh Dhami said on Tuesday that India has "created a distinct identity" on the global stage as a strong, capable and self-reliant nation, with important efforts being made to bring the resolutions of developed India to success. The chief minister said that in the 11 years under the leadership of the Prime Minister Narendra Modi, work is being done with the motto of 'Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas', as per an official statement. "This period was also important for the preservation and promotion of our rich cultural heritage. Many works are being done in the country in the direction of development and innovation. Ayushman Bharat Yojana is proving to be a boon in the field of health. With the power of Make in India, India's participation in the field of exports has increased rapidly. Today India has established itself as a global economic power by becoming the fourth largest economy in the world," CM Dhami said. CM Dhami said that a new pace of infrastructural development has been happening, with 99 per cent of villages having road connectivity now. "The Modi government has given a new pace to infrastructure development. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo 99 percent of villages have been connected with road connectivity. 34 kilometers of highway is being constructed every day in the country. Rail and air connectivity has also expanded rapidly. The Nari Shakti Vandan Act has paved the way for women to get 33 percent reservation in Lok Sabha and Vidhan Sabhas," CM Dhami said. The chief minister also focused on the development work done in the state, highlighting the ongoing construction of the Rishikesh-Karnprayag rail line and Hemkund Sahib ropeway. "Under the guidance of PM Modi, work is being done rapidly in every field in Uttarakhand. The construction work of Rishikesh-Karnprayag rail line is going on very fast. Work is also going on rapidly on the Delhi-Dehradun elevated road. After the construction of Kedarnath and Hemkund Sahib ropeway, devotees will get a lot of convenience," he said. Prime Minister Narendra Modi was first sworn in on May 26, 2014, and assumed office for a third consecutive term on June 9 last year.
Economic Times
an hour ago
- Economic Times
Why is India outpacing China, US, EU and Germany?
Despite a slight moderation to 6.3% in FY26, the World Bank projects India to remain the fastest-growing major economy Synopsis Despite a slight moderation to 6.3% in FY26, India's economic growth remains robust, outpacing global trends. Fueled by strong domestic consumption, a favorable demographic dividend, and government-led capital expenditure, India stands out as the fastest-growing major economy. However, risks like oil import dependence and a weak export sector persist amid global economic turbulence. India's economic growth will moderate a bit in FY26 but will remain steady even though the rest of the world is faltering, as per the World Bank's latest estimates. It has brought down India's growth forecast for FY26 to 6.3% from 6.7% estimated in January. However, as per various estimates, India will still remain the fastest-growing major economy. ADVERTISEMENT Also Read: World Bank predicts India dhoom amid global gloom India first emerged as the world's fastest-growing major economy in 2015, surpassing China in terms of GDP growth rate. The convergence of a favorable external environment (low oil prices, for instance), domestic macroeconomic stabilization and a bold reform agenda laid the foundation for India's economic acceleration. From 2015–2018, India's GDP growth hovered between 7.5% and 8%, outpacing China, whose growth had slowed to around 6.5–6.7% due to a structural transition from investment-led to consumption-driven growth. Key reforms during this period included the Make in India initiative, liberalisation of FDI norms and steps toward fiscal consolidation. The Goods and Services Tax (GST) was passed in 2017, a landmark move toward a unified national market. From 2019 to 2020 was a period of headwinds. By late 2018 and 2019, growth began to moderate due to banking sector stress (notably in NBFCs), weakening private consumption, and sluggish private investment. In FY2019–20, GDP growth eased to 5%, compared with the 6.1% growth in the previous fiscal year, 2018-19, due to global economic conditions as well as a slowdown in the manufacturing and construction sectors, weak consumption growth and challenges in the financial sector. The COVID-19 pandemic in 2020 dealt a major blow to the economy, causing GDP to contract by 7.3% in FY21, its worst performance since independence. India rebounded strongly in FY22 with 8.7% growth, supported by a surge in domestic demand, public capex and recovery in services and exports. Since 2022, India has consistently maintained a growth rate of 6–7%, while most advanced economies and even China have decelerated significantly. The World Bank, IMF, and the UN have repeatedly reaffirmed India as the fastest-growing major economy from 2021 onward, a status it is expected to retain at least through to projections from the United Nations' World Economic Situation and Prospects 2025, the IMF, and the World Bank, India is poised to remain the fastest-growing major economy, outpacing China, the US, the European Union, Germany and other developed economies. This growth differential is not merely a statistic but a reflection of shifting structural dynamics, macroeconomic fundamentals and policy contrasts among global players. ADVERTISEMENT The global economy is expected to expand by just 2.3% in 2025, a deceleration from previous expectations. This subdued pace underscores the persistence of several cross-cutting headwinds: Rising protectionism, especially through tariff escalation and strategic decoupling (notably between the U.S. and China), is limiting trade volume growth. The World Bank warns that global trade expansion in 2025 will likely be under 2%, significantly below the historical average of 4–5%.Central banks in developed economies, particularly the ECB and the Federal Reserve, are maintaining cautious monetary stances amid persistent core inflation, resulting in elevated real interest rates that inhibit both consumer spending and capital investment. The war in Ukraine, US-China tensions, and energy supply disruptions continue to undermine investor confidence and disrupt global supply chains. Demographic aging, productivity stagnation and tepid innovation diffusion are combining to suppress growth in key economies like Germany and Japan. ADVERTISEMENT The US will see projected growth of around 1.4% in 2025 as per the World Bank, down from 2.3% projected in January, marking a slowdown, primarily due to the delayed effects of monetary tightening., weakening consumer sentiment due to inflation fatigue, and political uncertainty in an election year, which could delay public investment growth projection remains unchanged at 4.5% in 2025, modest by its historical standards. Although policy tools remain available, Beijing faces structural issues in its real estate sector, declining labor force participation, and rising geopolitical isolation and capital outflows. ADVERTISEMENT The euro area is expected to grow by just 1%, while Germany remains one of the weakest performers among OECD members. Energy insecurity and high input costs post-Russia sanctions continue to weigh on industrial production. Structural reliance on exports, especially to a slowing China, is increasingly a liability. A lag in green transition investments reduces medium-term is projected to grow at 6.3% in FY26, maintaining its status as the world's fastest-growing major economy. The reasons for this outperformance are both cyclical and structural. Unlike export-reliant economies, India benefits from a consumption-heavy GDP structure. A growing middle class, rising urbanization and increasing per capita income create a resilient consumer base that cushions the economy from global shocks. ADVERTISEMENT India remains in its demographic sweet spot. With a median age of 29, the labour force continues to expand, driving both demand and productivity gains. In contrast, aging populations in Europe, China, and Japan act as long-term drags on capital expenditure, especially in infrastructure (roads, railways, energy, and digital infrastructure), has a strong multiplier effect. This investment boom has also crowded in private sector investment, particularly in manufacturing and logistics. Reforms such as the GST, Insolvency and Bankruptcy Code, and digital public infrastructure (UPI, Aadhaar stack) have enhanced formalization, compliance, and productivity in the IT and digital services exports continue to surge, and the country is increasingly positioning itself as a global back office for advanced services including fintech, edtech, and healthtech, coming a long way to Global Capability Centres from call centres of early 2000s. This high-margin sector provides a valuable cushion to current account pressures. Amid US-China decoupling and China+1 strategies, India is attracting foreign direct investment into electronics, pharmaceuticals, semiconductors and renewable energy despite optimism, India is not immune to global turbulence. Key risks include dependence on oil imports, which exposes it to energy price shocks. A relatively weak export sector may limit benefits from global recovery phases. Fiscal pressures can grow if subsidies rise due to electoral considerations. The global economy is navigating a low-growth equilibrium, marked by fragmented trade, demographic drag and inflation inertia. India's growth, by contrast, is being propelled by favorable demographics, domestic demand and policy momentum. What distinguishes India is not just its headline growth rate but the underlying composition of the economy. Whether this momentum translates into sustained long-term convergence with advanced economies will depend on India's ability to broaden the benefits of growth, invest in human capital, and build resilience against future global shocks. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
