Working on new start-up policy, plans to set up ‘Innovation City’: CM Devendra Fadnavis
Fadnavis also said that the Small Industries Development Bank of India (SIDBI) has agreed to make a provision of Rs 200 crore for the start-ups and Rs 30 crore will be provided to each regional division.
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Maharashtra CM Devendra Fadnavis Chief Minister Devendra Fadnavis on Thursday said that state government is working on a new startup policy, while announcing plans to establish an “Innovation City” in Maharashtra on the lines of Gujarat’s GIFT City.
A draft policy has been shared with the entrepreneurs inviting their suggestions and objections, Fadnavis said while inaugurating the National Startups Day at Geo World Trade Center at Bandra-Kurla Complex (BKC).
“The way GIFT City has been created, we aim to develop an Innovation City in Maharashtra at an even faster pace,” he said.
Fadnavis also said that the Small Industries Development Bank of India (SIDBI) has agreed to make a provision of Rs 200 crore for the start-ups and Rs 30 crore will be provided to each regional division.
The chief minister stated that the number of start-ups in the country has risen to 1.57 lakh from just 471 in 2016.
Highlighting Maharashtra’s achievements, Fadnavis said that the state has a presence of 26,000 startups.
“Maharashtra tops in the country in investments. In future too, opportunities will be provided to start industries without bureaucratic hurdles,” Fadnavis said.
“Out tier 2 and tier 3 cities are contributing greatly to the development of the state. Nashik, Nagpur, Chhatrapati Sambhaji Nagar, and Kolhapur are encouraging start-ups,” the chief minister said.
According to the CM, artificial intelligence (AI) will empower start-ups.
“AI is the future of technology and will be a major contributor for startups. This will not only create industry opportunities but also generate job opportunities,” he added.
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