Eyeing huge foreign investment in his state, Maharashtra Chief Minister Devendra Fadnavis will attend the Hannover Trade Fair in Germany on Monday. The 5-day Fair will be jointly inaugurated by Prime Minister Modi along with German Chancellor Angela Merkel.
India is partner country at Hannover Mess 2015, the world’s largest industrial trade fair.
“At this moment India is the destination for the foreign investors. And we would certainly promote the interests of Maharashtra. Our Make in Maharashtra is a mission to open up greater opportunities for the foreign investors albeit with a single minded agenda to promote the welfare of our people. Under Prime Minister Narendra Modi’s leadership, we look forward to take Make In India and Make in Maharashtra ahead,” said Fadnavis who is leading a delegation comprising Industries Minister Subash Desai and senior bureaucrats.
Fadnavis will also meet top officials of bus manufacturing company VOLVO and Swedish engineering group Sandvik for expanding their base in Maharashtra.
“Till now, companies like Volkswagen used to be in a semi knocked-down state where they import every part of the car and assemble it in the country to save customs duty. This does not create value addition, nor does it bring in investments for us.
“Thus, we have asked Volkswagen to manufacture cars here. Maharashtra will be the place in India where Volkswagen will manufacture its car engines,” Praveen Pardeshi, Principal Secretary to the Chief Minister said.
Pardeshi said another important aspect of Fadnavis’s trip will be to pursue Volkswagen to set up a network of suppliers of automobile parts in India.
“We want all the sub-parts and ancillaries of the car to be made in Indian units,” he said.
Explaining the current working of Volkswagen, Pardeshi said the company is currently assembling around 1,30,000 vehicles a year and gives employment to about 3,500 people.
“They are now planning to expand by around Rs 38 billion, making it the largest German investment in the country. While this will also generate direct employment, companies making ancillary units which supply them parts, will thus enable further employment,” he said.
According to him, this trip is aimed at mobilising additional Rs 1,500 crore in the next 3-5 years.
(With inputs from PTI)