Devendra Fadnavis launches 'Invest Maharashtra' platform; 67 MoUs with proposed investment of Rs 8.57 lakh cr signed
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Chief Minister Devendra Fadnavis on Thursday launched 'Invest Maharashtra' platform and said it would work towards making the state a major investment destination in India and globally, with the government taking responsibility for coordinating land, power, infrastructure, approvals and skilled manpower for projects.
The government would work in an integrated manner to meet every requirement of investors after they select a project, he asserted.
What is Invest Maharashtra Platform?
The platform's identity is "Made for Business", which means the government should understand the value of investors' time, take responsibility for resolving problems and remain with investors from the project stage through its expansion, the CM said.
Fadnavis urged large industries to ensure the benefits of these investments reach local small and medium enterprises, suppliers, youth and farmers.
He also asked large companies to provide opportunities to local businesses in their supply chains and work with institutions to train youth in required skills.
"Investment proposals have been received from Chandrapur, Wardha, Nagpur, Gondia, Nashik, Jalgaon, Dhule, Chhatrapati Sambhajinagar, Jalna, Pune, Ahilyanagar, Ratnagiri, Palghar and Mumbai Metropolitan Region. The aim is to ensure balanced development across Maharashtra," he said.
The Mumbai Metropolitan Region Development Authority (MMRDA) has completed the Existing Land Use (ELU) process covering around 2,100 sq km for the development of Mumbai-3 and Mumbai-4, Fadnavis said.
He described it as the fastest such ELU process completed in India and said it would provide a strong foundation for planned development of the two cities.
Fadnavis said Maharashtra aimed to build a USD 1 trillion economy by 2030 by taking advantage of opportunities created by India's development under Prime Minister Narendra Modi.
The objective meant more productive industries, higher incomes, stronger districts and greater confidence among young people to build their future in Maharashtra, he said while referring to initiatives such as Education City, Medicity and AI and Innovation City.
These were aimed at bringing industry, skills, research, healthcare and technology together, Fadnavis said.
Fadnavis also urged industries to contribute to water conservation in areas facing difficulties due to low rainfall.
He appealed to companies to contribute generously to the Chief Minister's Relief Fund and use their research and engineering expertise for water conservation, efficient irrigation and wastewater reuse.
Industry Minister Uday Samant said the investment commitments made through 'Invest Maharashtra' would give a new direction to the state's industrial development.
The industry department was committed to providing all necessary facilities and support to investors and resolving their difficulties through the 'Maitri' single-window mechanism, he added.
Chief Secretary Rajesh Agrawal said 'Invest Maharashtra' would provide investors with guidance and facilitation in dealing with various government departments.
'Invest Maharashtra' would function as the state's premier industrial investment promotion and facilitation institution, bringing investment promotion, facilitation, global partnerships, research, analysis and investor relationship management onto a single platform, said Industry Principal Secretary P Anbalagan.
"The initiative would also focus on sectors such as global capability centres, gems and jewellery, animation, visual effects, comics and gaming, bamboo, bioplastics, electronics and semiconductors, besides promoting balanced regional development in emerging districts," he said.
A total of 67 memoranda of understanding (MoUs) involving proposed investments of Rs 8,57,452 crore were signed at the Maharashtra Investment Summit during the day with an expected employment generation of 2,91,109 jobs.
The MoUs include 10 each in the aerospace and defence, and energy and cleantech sectors, an official release said.
Data centres, information technology and semiconductor sectors account for the largest share of the proposed investment, with Rs 4,15,490 crore committed across these sectors, it said.
"MoUs worth Rs 1,02,519 crore were signed in energy, cleantech, renewable energy, battery energy and compressed biogas sectors. The aerospace and defence sectors accounted for investments of Rs 27,930 crore, while MoUs worth Rs 75,000 crore were signed in metals and mining," it added.
Investments of Rs 12,651 crore were proposed in electronics, Rs 6,500 crore in healthcare, and Rs 18,751 crore in infrastructure, logistics and construction materials, while steel production sector accounted for proposed investments of Rs 7,000 crore.
Chemicals, agriculture, services and global capability centres (GCCs) accounted for Rs 8,801 crore, while investments of Rs 1,82,810 crore were proposed across other sectors, the statement said.
"The investment agreements are expected to boost industrial expansion, technology-driven industries and employment generation in Maharashtra," it said