Make in India Week-Day 1: 3 MoUs worth Rs 21,000 crore inked

Three MoUs envisaging total investment of Rs 21,000 crore were inked on the first day of the Make in India Week, which was launched by Prime Minister Narendra Modi in Mumbai on Saturday.

Sterlite Group company TwinStar Display Technologies inked a memorandum of understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) to set up an LCD manufacturing unit in technical collaboration with Autron of Taiwan.

"The project entails investment of Rs 20,000 crore. The location of the plant will be decided shortly," a statement said.

Another MoU was signed between Raymond Industries and MIDC as part of 'Farm to Fabric' initiative.

"Raymond intends to invest Rs 1,400 crore for manufacturing of linen yarn and fabric and garmenting," it said.

The unit will be set up in Nandgaon Textile Park at Amravati District which will procure cotton from the farmers in the district and Vidarbha region which has been affected by suicides and farmers distress.

PM Narendra Modi and Maharashtra CM Devendra Fadnavis witnessing MoU exchange between The Coca-Cola Company and Jain Irrigation Systems Pvt. Ltd, at the Make in India Centre in Mumbai (PTI)

The third MoU was inked between Hindustan Coca Cola Beverages, Jain Irrigation Pvt Ltd and Department of Agriculture and Marketing, Government of Maharashtra for setting up a juice manufacturing facility to support farmers growing oranges in Vidarbha.

The project intends to give higher value to orange growers and generate gainful employment. It is expected to benefit 5,000 farmers with an average landholding of two acres each.