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India's Pune-Mumbai Hyperloop project promises to create 1.8M jobs!

By Geetika Raleh . 28th September 2019 04:45pm
India's Pune-Mumbai Hyperloop project promises to create 1.8M jobs!

Last time we informed you that HYPERLOOP is the newest form of transport which the world is going to witness soon. Through this, the people would be able to cover long distances within the shortest time possible. With Hyperloop, the passengers will be able to travel more than 700 miles an hour in a pod which would run through a giant tube underground.

The major difference between hyperloop and other rail transport is that it will be transporting the passengers in a tube-like structure which will be running through tunnels. The majority of the air will be reduced from these tunnels to reduce friction.

Being cheaper and faster means of transport, it will be the reason for less pollution which is a rising problem in our country.

Recently, the organisation revealed that with the introduction of Hyperloop communication in India, the Virgin Hyperloop One (VHO) who is going to build the first functional Hyperpool anywhere in the world, more than 1.8 million jobs (direct & indirect) will be created along the route in Maharashtra. 

New Industrial Policy

As per the new industrial policy introduced in April 2019, measures are being taken to develop  Maharashtra into a trillion-dollar economy. The proposed hyperloop will be addressing all the key targets directly. 9 out of 14 ‘thrust sectors’ will be promoted directly and indirectly by the new Industrial policy.

Investment Opportunities

In a joint venture with KPMG, Virgin Hyperloop One has put forward a rough idea that the entire project will cost more than 70,000 crore while being constructed from Pune to Mumbai.

In its entire lifetime, this project will generate more than US $36 billion in the socio-economic advantages which would result in 2.6% increase in the GDP of Maharashtra. This will also create new manufacturing opportunities for the region to become the manufacturing, designing and engineering support services within the country, and even the rest of the world.

Key Factors

While examining the employment and the investment opportunities, the VHO has taken into consideration all the factors like construction, operation, manufacturing, and R&D with respect to the Hyperloop project. These figures have also considered the jobs which will be directly related to the project development activities, and even the indirect jobs which will be inclusive of the upstream sectors of the industry which would be supporting the hyperloop project.

Elaborating on the project, Harj Dhaliwal, MD India and The Middle East for Virgin Hyperloop One said,

“The Pune-Mumbai Hyperloop Project is well on its way to becoming the first of its kind transit option, creating new economic opportunities for hundreds of millions of Maharashtra residents. But that’s just the beginning. We envision a future in which Maharashtra becomes the global supply hub to support hyperloop projects around the world with manufacturing, design and engineering support services making it not just hyperloop’s first home but a global leader for the first new mode of mass transportation in over 100 years.”

Pune-Mumbai Hyperloop Projections:

If the estimates of the Pune-Mumbai Hyperloop project are to be believed, there are about 75 million passengers who travel between Mumbai and Pune every year. And the project estimates that these passengers would shoot up to 130 million by 2026. The Hyperloop Transportation systems are designed by Virgin Hyperloop One which can tackle the increasing demand by carrying as many as 200 million passengers every year. This would shuttle between Pune and Mumbai in less than 30 minutes, a journey which at present takes more than 3.5 hours.

Well, with such innovations done by Virgin Hyperloop One, things might take a different turn, benefitting the population and the unemployed. Whether this becomes a reality or not will be realised only once the project starts to actualise in reality.