Foreign investors pursued to set up units in Maharashtra

At meetings with visiting delegations from Russia, China, France in the last one month, Chief Minister Devendra Fadnavis stated he would like them to have their manufacturing operations base in Maharashtra.

Written by Shubhangi Khapre | Mumbai | Updated: October 24, 2016 3:08 am
At meetings with visiting delegations from Russia, China, France in the last one month, Chief Minister Devendra Fadnavis stated he would like them to have their manufacturing operations base in Maharashtra. (Express photo by Nirmal Harindran)

The Maharashtra government is reaching out to overseas investors to get them to set up manufacturing units in the state and not just confine themselves to business collaboration in projects or just sharing of technological knowledge.

At meetings with visiting delegations from Russia, China, France in the last one month, Chief Minister Devendra Fadnavis stated he would like them to have their manufacturing operations base in Maharashtra.

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Fadnavis discussed policy reforms undertaken by his government in the last two years for ease of doing business including a drastic cut in permit regime. The permissions required have come down from 78 to 25.

Promising all support from the government to investors, Fadnavis indicated they could have their units anywhere in Maharashtra. This would help in long-term business and greater collaboration and public participation. He said that Maharashtra’s market potential should mutually benefit both, and its dividends help in welfare of people in the state.

A senior officer, part of the discussion with foreign delegations to promote Make In Maharashtra, told The Indian Express, “The state has undertaken major policy corrections in approach to overseas investments in the state. Now, at every meeting, Fadnavis outlines the intent clearly emphasising on making investors create assets through manufacturing and infrastructure for development of the state and creating local employment.”

The first execution of the changed policy translated into reality at Nagpur, where a Chinese company has agreed to set up a metro coach manufacturing unit at Mihan. The China Railway Rolling Stock Corporation (CRRC), a Chinese government firm, last fortnight decided to invest Rs 1500 crore and set up its manufacturing unit in the multi-modal International Cargo Hub and Airport at Nagpur.

Putting the pre-condition with overseas investors to contribute to long-term partnership in building assets is to ensure they don’t look at Maharashtra as a mere market to park products and earn returns. Another reason for such pre-conditions stems from wooing overseas investors to explore beyond the Mumbai-Pune-Nashik corridors.

Two weeks ago, CISCO CEO Chuck Robbins announced to build and expand its manufacturing unit in Pune and made a commitment for partnership with state government’s ambitious digital India projects to provide healthcare and quality education in 29,000 gram panchayats in Maharashtra.

Apart from holding talks with four foreign delegations in Maharashtra, the CM has travelled to Israel, Japan, United States, China, Russia and Switzerland to woo investors. The economic survey released by the centre mentioned 40 per cent boost in foreign direct investment because of Make In India drive. The Make In India Week (February 13-18) saw a cumulative investment projection of Rs 15 lakh crore for the entire country. Of this, Maharashtra alone bagged Rs 8.04 lakh crore.