The Delhi-Mumbai Industrial Corridor (DMIC) is major physical infrastructure project passing through six states of India. The ambitious DMIC has received major boost with India and Japan inking an agreement to set up a project development fund. The initial size of the Fund is 10 billion (US$162.0 million). Both the Japanese and Indian Governments contribute equally. The Corridor intends to develop industrial estates and townships in various parts of the country in order to give thrust to manufacturing. Also, the Indian economy is rapidly undergoing urbanization. However, urbanization and industrialization have to go hand-in-hand for progress of a nation. The DMIC will play a prominent role in converging urbanization along with industrialization. The Corridor is estimated to create 2.3 million jobs, industrial output worth Rs 20 trillion along with efficient logistical network.