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Make in India Week: States secure Rs 15.2 lakh cr commitments; Maharashtra leads way with Rs 8 lakh cr

Besides Maharashtra, most states used the event mostly to network, increase their visibility, and kick off talks for future investments. States such as Gujarat, Jharkhand and Odisha also received some key investment proposals.

Written by MANASI PHADKE | Mumbai | Updated: February 19, 2016 1:58:37 am
DIPP Secretary Amitabh Kant with Maharashtra Chief Minister Devendra Fadnavis at the closing press conference of Make In India Week in Mumbai on Thursday. (Express Photo Prashant Nadkar) DIPP Secretary Amitabh Kant with Maharashtra Chief Minister Devendra Fadnavis at the closing press conference of Make In India Week in Mumbai on Thursday. (Express Photo Prashant Nadkar)

The week-long Make in India event which ended Thursday here has secured investment commitments worth Rs 15.2 lakh crore, with host state Maharashtra accounting for Rs 8 lakh crore.

Besides Maharashtra, most states used the event mostly to network, increase their visibility, and kick off talks for future investments. States such as Gujarat, Jharkhand and Odisha also received some key investment proposals.

Odisha, banking on its mineral resources, ports and vast coastline, attracted investments worth Rs 70,959 crore at the event. Industrialists such as KM Birla, Rajesh Adani, and executives from ITC, Tata Steel, Larsen & Toubro and GMR shared the stage with chief minister Navin Patnaik during the event to speak on their Odisha experience.

“The chief minister met 12 to 14 companies across sectors, and three ambassadors,” said a senior Odisha government official. He said Odisha attracted investments by Larsen & Toubro, NALCO, ITC, GMR and Vedanta, among others.

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Jharkhand, which conducted an investment seminar with chief minister Raghubar Das in attendance, scooped up investments worth Rs 62,000 crore. The state government signed MoUs with the Adani Group for an investment of Rs 50,000 crore, and another with the Vedanta group for a Rs 2,000-crore steel plant. The Jharkhand government also received 11 letters of intent from companies committing a cumulative investment of Rs 10,000 crore.

Gujarat, Maharashtra’s closest competitor, inked four MoUs in the presence of chief minister Anandiben Patel. The government tied up with Denmark-based Vestas for a windmill blades manufacturing unit at Ahmedabad and France-based Tar Kovacs Systems for an offshore platform to develop marine applications. The Gujarat government also tied up with Indian Business Pages, a commercial information search service provider, and with the Finnish government for assistance in a fertiliser university in the state, said a senior official with the Gujarat government’s Industrial Extension Bureau.

“The total worth of all MoUs is less than Rs 2,000 crore. Our aim was not to sign MoUs here. We were here mainly to reach out to people and open doors for more investments,” he said, adding that Patel met representatives of several companies such as Welspun, Suzlon, and Asian Paints on the sidelines of the Make in India Week.

Tar Kovacs, which signed an MoU with the Gujarat government, also struck a deal with Karnataka, the only Congress-led state to hold an investment seminar during the Make in India Week to set up an ocean-based renewable energy project.

Haryana chief minister Manohar Lal Khattar said he used the event to attract several investment offers, rather than signing MoUs, and generate interest in the state ahead of its own ‘Happening Haryana’ investment summit scheduled next month. “I had meetings with 17-18 representatives from across sectors. We are in talks for investments worth Rs 20,000 crore,” Khattar said.

Overall, 17 states had put up pavillions at the Make in India Centre in the Bandra-Kurla Complex, with 12 of them holding their separate investment seminars to highlight the strong points of the respective states. The states who had organised investment seminars include Maharashtra, Gujarat, Odisha, Haryana, Andhra Pradesh, Madhya Pradesh, Telangana, Tamil Nadu, Chhattisgarh, Jharkhand, Punjab and Karnataka.

Major investments

* Odisha attracted investments worth Rs 70,959 crore at the event

* Jharkhand scooped up investments worth Rs 62,000 crore

* Overall, 17 states had put up pavillions at the event, with 12 of them holding their separate investment seminars

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