CM Devendra Fadnavis’s ‘Make in Maharashtra’ drums up Rs. 25000 cr foreign investment - The Fearless Indian
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CM Devendra Fadnavis’s ‘Make in Maharashtra’ drums up Rs. 25000 cr foreign investment

  • Hiral Patel
  • August 3, 2015
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The ‘Make in Maharashtra’ initiative floated by Chief Minister Devendra Fadnavis has managed to garner foreign direct investment (FDI) of a whopping Rs 25,000 crore in just 8 months, making it a thumping success. It is about 30% of the entire FDI in the country. It also has the potential of creating over one lakh jobs in the state.

The Chief Minister’s recent visits to US, China and Germany have paid huge dividends with General Motors last week announcing an investment of Rs 6,500 crore in manufacturing facilities and its American rival Chrysler too is investing Rs 1,700 crore in Pune to manufacture its marquee brand Grand Cherokee. Schindler Group will invest Rs 500 crore in a second phase project at Talegaon, near Pune for manufacturing escalators while American giant GE to invest Rs 3000 crore.

The government’s new investment strategy is seen as key in accumulating the massive investment. The Fadnavis government has done away unnecessary procedures and has reduced the permissions needed to start a business at a maximum of 25 to curb the strenuous red-tape prevalent in the country.

The government’s “e-platform” to monitor the movement of files related to setting up of new industries and investment in the state. Proposed interface will facilitate quick approval of applications for setting up industries in an effective and transparent manner.

Those investing more than Rs.100 crores will have the facility of one window clearance under the ‘MAITRI'(Maharashtra Industry, Trade & Investment Facilitation Cell) scheme, a set-up of an Empowered Group of Secretaries of various key departments to give all the approvals required for new industries within 30 days.

These moves for transparency, hassle-free and quick approvals accompanied by the Chief Minister aggressive approach is the reason Maharashtra has become the investment hub of the country so much so that global investment major Schindler’s Jürgen Tinggren said during World Economic Forum at Davos in 2015 that “Ease of doing business in Maharashtra is as fast as China.” According to the CM, FDI in Maharashtra is just getting started, the government is eyeing Rs 5 lakh crore(US$84bn) industrial investment across the state between 2014-2019 period that is likely to generate around 2 million jobs.

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