Prime Minister Narendra Modi will inaugurate a global investors’ summit titled ‘Magnetic Maharashtra: Convergence 2018’ in Mumbai on February 18. This will also mark the first investors’ summit convened by the state government in the last three years. In 2016, Maharashtra played host to Make In India, which was also held in Mumbai.
The three-day conclave is being organised by the state government to project its “achievements” in core sectors and further tap global investors. The key areas identified include industries, infrastructure, textile and food processing, defence manufacturing and electronics, among others.
Chief Minister Devendra Fadnavis on Saturday unveiled the official logo and web portal, giving glimpses of the plans the state government has for the mega global investors’ summit, which will commence on February 18 and conclude on February 20.
“The political climate in Maharashtra is conducive for global investments and economic growth. The law and order situation is fine,” Fadnavis said. While stating that the captains of industries who are operating from Maharashtra know the ground realities, he said, “I believe the strength of Maharashtra are its people.”
“The larger objective of this summit is to consolidate our gains attained in core sectors to the next level,” he said.
The state has Rs 5.96 lakh crore worth of infrastructure projects. Besides, the state accounts for 45 per cent of the country’s FDI.
Referring to the Make In India conclave, Fadnavis said, “All the projections made during the Make In India for Maharashtra have been realised and we have clocked huge success in terms of investments and employment.”
“Of the total MoUs signed during Make In India, we have realised 1,523. It means 51 per cent, which is substantially higher compared to the national average of 30 to 35 per cent,” he added.
Several industrialists and companies participated in the curtain raiser for Magnetic Maharashtra. Ajit Ranade of Aditya Birla Group said, “While Bangalore has emerged as the IT capital of India, we have highly underplayed the IT potential in Maharashtra. Whether it is Mumbai or Pune we have not adequately made its projections.”
Incentive: As a special incentive to promote innovative ideas, the state government has announced awards for first three best start-ups of Rs 50 lakh, Rs 30 lakh and Rs 15 lakh.