In the present day competitive and cooperative federalism, Maharashtra has attracted more than 30 per cent FDI.
In a bid to maintain its pre-eminence in attracting domestic and foreign direct investments, Maharashtra government will focus on a 'five-step approach' which includes unlocking growth sectors, reskilling, boosting ease of doing business (EoDB), infrastructure-led growth and the development of growth corridors. Through this undertaking, the Maharashtra Industrial Development Corporation (MIDC) aims to improve its EoDB rank through ongoing reforms.
MIDC chief executive officer P Anbalagan in an exclusive interview told DNA, "Visionary leadership, effective administration, good quality infrastructure, transport and logistics support, skilled manpower availability, best law and order situation and educational facilities and investment-friendly environment are just a few other factors that have helped the state to be in the forefront of the industrial scenario."
In the present day competitive and cooperative federalism, Maharashtra has attracted more than 30 per cent FDI. ''MIDC has recognised a few key sectors such as textiles, food processing and electronic system design and manufacturing in tandem with additional thrust sectors including defence and aerospace, renewables and data centres in order to define the roadmap for next-generation industries. MIDC amends policies to make way for better investment climate," said Anbalagan speaking on the sidelines of the 25th edition of CII Partnership summit.
According to Anbalagan, MIDC has invested Rs 300 crore in a venture capital fund focusing on aerospace and defence industry which will boost micro, small and medium enterprises (MSME) startups and indigenization. Furthermore, MIDC has recently modified Development Control Regulations to allow mixed land use in residential and commercial plots. It has also allowed additional floor space index (FSI) to information technology (IT), biotechnology and nanotechnology companies keeping in mind that these sectors have specialised needs.
On the allotment of land to investors, Anbalagan informed that MIDC has put in place single window application system for the allotment of land in the transparent and speedy manner. MIDC has processed about 2 lakh applications for land through this system. ''MIDC has one of the largest land banks in the country replete with all the necessary infrastructure and is constantly expanding this as the industry demands grow and change. Today, with more than the 288 industrial complexes, MIDC ensures that an industry, who wants to set up shop in the state and contribute to the trillion dollar goas, has the supporting ecosystem to do just this,'' said Anbalagan.
He revealed that there has been a surge in the demand for allotment of land from electric vehicle players, defence and aerospace companies and IT and ITeS sector.
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