Chief minister Devendra Fadnavis on his third day interaction with global players at the World Economic Forum at Davos, Switzerland, discussed plans to transform Mumbai as an International financial hub. Several sectors which were discussed related to expansion plans in banking, agriculture and automobile with assurance to make Maharashtra the global hub for small car manufacturing. The chief minister said, “It was heartening to know J P Morgan's expansion plan in Maharashtra in banking sector, from the Managing Director (MD) Daniel Pinto.” At present we have 12,000 people already working for J P Morgan in India. The company has envisaged expansion plans through which it would require more employment as the quality of graduates in India is very good, he added. At the WEF, Deutsche Bank's Anshu Jain lauded the initiatives taken by state government in wild life conservation work. He gave the commitment to chief minister's plans in making Mumbai a global financial hub. During the meeting with Swiss Re's Ivo Menzinger, the discussion with state chief minister veered around development new crop insurance for Maharashtra based on satellite remote sensing. As Fadnavis maintained, “The current insurance programme is inadequate and investments in relief to tackle the drought far exceeds the national relief funds.” The outcome of meeting between Fadnavis and Dr Leif Ostling who lead the interaction for Volkwagon, it was decided that Maharashtra has the great potential to establish itself as the manufacturing hub of small cars. Assuring state will provide the necessary help to increase the component in manufacturing sector. On January 27, Fadnvais will inaugurate Volkswagon diesel driven manufacturing plant at Chakan (Pune district) in Maharashtra. Maharashtra believes Germany is the major players in state and emphasised the need to strengthen the marketing efforts. At the end of the meeting with Kitara Capitals CEO, Umesh Khimji, decision to set up plants in engineering sector and greater investment ahead was taken after state government assured full support.
