Maharashtra targets Rs 4 trn investments at Make in India week

Declining to quantify investments which his administration is targeting, Chief Minister Devendra Fadnavis said it will be a big number, and added that officials have been working on stitching the agreements for the last three months.
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Feb 09, 2016, 02.20 PM | Source: PTI

Maharashtra targets Rs 4 trn investments at 'Make in India' week

Declining to quantify investments which his administration is targeting, Chief Minister Devendra Fadnavis said it will be a "big number", and added that officials have been working on stitching the agreements for the last three months.

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Maharashtra targets Rs 4 trn investments at Make in India week

Declining to quantify investments which his administration is targeting, Chief Minister Devendra Fadnavis said it will be a "big number", and added that officials have been working on stitching the agreements for the last three months.

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Maharashtra targets Rs 4 trn investments at Make in India week
Maharashtra is targeting to bag Rs 4 trillion in investments during the maiden 'Make in India' (MII) week to be held in the country's financial capital from Saturday.

"We are targeting up to Rs four lakh crore of investments through the agreements," Maharashtra Industrial Development Corporation's chief executive Bhushan Gagrani told reporters on the sidelines of a curtain-raiser press conference for MII week.

He however declined to outline more details like the sectors which will see the investment commitments or companies with whom the state government is negotiating.

Declining to quantify investments which his administration is targeting, Chief Minister Devendra Fadnavis said it will be a "big number", and added that officials have been working on stitching the agreements for the last three months.

Fadnavis said Memorandums of Understanding are being signed after full diligence and focus is also being given to make sure that the agreements translate into actual investments on the ground. He said the state will be announcing five new policies aimed at ease of doing business, during the event.

Senior officials said these include new frameworks for retail, electronics, ports, backward classes (SC/ST) and single window clearances. Maharashtra has been at the forefront of industrial development in the country, but has been facing competition from others like Tamil Nadu, Gujarat, Andhra Pradesh, Karnataka and others.

The disparities in the state, especially with backward regions like Vidarbha, Marathwada and North Maharashtra have also attracted flak from critics.

Over 1,000 business delegates from 60 countries, 2,500 domestic delegates, 192 companies and four heads of state are expected at the maiden MII week which will be inaugurated by Prime Minister Narendra Modi on February 13.

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