• Associate Sponsor

Look beyond golden triangle: State pitch for US, Japan, China

“It is our endeavour to take big ticket investments beyond the golden triangle and are pursuing it proactively under the banner of Make in India, Make in Maharashtra,” the CM said.

Written by Shubhangi Khapre | Mumbai | Published: February 17, 2016 3:08 am
Girgaum Chowpatty fire, make in india, Girgaum Chowpatty fire probe, make in india fire probe, devendra fadnavis, Mumbai Fire Brigade, mumbai news CM Devendra Fadnavis

Chief Minister Devendra Fadnavis is wooing nations at the Make in India summit to invest beyond the golden corridors of Mumbai, Pune and Nashik. The state government has decided to tap mega-investments from United States, Japan, and China in multi-sectors beyond the golden corridors for which track two discussions are already on.

“It is our endeavour to take big ticket investments beyond the golden triangle and are pursuing it proactively under the banner of Make in India, Make in Maharashtra,” the CM said.

On Tuesday, almost 30 companies led by US Development Council held a meeting with the chief minister to explore possibilities beyond the golden triangle. While expressing concern in some sectors, they acknowledged the change of investment climate in India and Maharashtra in the last one and half years.

Share This Article
Share
Related Article

Monsanto mooted a proposal to set up India’s biggest seed park in Deulgaon Raja in Buldhana in Vidarbha. Pepsico signed an MoU for a food processing project. The private multi-national companies also wanted to get reassurance from the government on new policy measures which it unveiled to fast track decision making, along with incentives.

Fadnavis said, “Whether it is US, China or Japan all are looking up to Maharashtra as the best destination and are coming forward with investment in multi-sectors. The proposals discussed cater to wider category such as manufacturing, agriculture, textile, IT, Communications and infrastructure.”

The chief minister has sent a clear message to the core committee to pursue investments aggressively and not rest at what has already been tapped. The statistics displayed by the government shows the state bagged agreements of Rs 6 lakh crore investments which needs to be translated into reality.

Earlier, at a meeting with a Japanese delegation, the chief minister said, “The decision related to any mega-project which has been given highest priority would require quick decision on the investment formula. It cannot be discussed endlessly.”

Citing an example, it was conveyed that investments for any infrastructure project which has already got all clearances and is ready to roll would like foreign investors to take a call in a time-bound manner.

At the Make in Maharashtra, whether it is Mumbai Trans Harbour Link or Coastal Road project, there are private investors from both Japan and China competing with each other with loans at lower interest spread over 30 to 40 years.

In other infra-projects Canadian companies have also come forward promising lower interest loans.

At Make in India, foreign delegations and captains of industries have acknowledged Maharashtra as the leading investment destination.

For all the latest Mumbai News, download Indian Express App

  1. No Comments.