The state will target greater ease of doing business in the defence and aerospace sectors
Undeterred by competition especially after the launch of the Goods and Services Tax regime, the state government is all set to present Maharashtra as the favoured destination for investors for ‘high security and low risk’ investments. In the upcoming Magnetic Maharashtra investor’s summit, the government will propose the ease of doing business in the state and articulating the absence of red tape, rolling out the red carpet for fueling investment.
The state is targeting investments in the sectors of infrastructure, defence and aerospace, chemicals and petrochemicals, fertilizers, affordable housing, cement, steel, textile and renewable energy. State secretary for industies, Sunil Porwal told DNA
“Maharashtra has a history of industrialization with a highly skilled manpower, infrastructure, a growing economy and the responsive government. The government welcomes competition as it is an opportunity to improve the ease of doing business.
The government not only takes quick decisions but they are reflected in policies and infrastructure. At the Magnetic Maharashtra summit, the government will seek feedback from investors to improve itself.”
According to Porwal, the government came up with investor friendly policies providing a slew of incentives last week.
He added that the government proposes to develop five hubs for defence and aerospace sector at Nagpur, Pune, Nashik, Ahmednagar and Aurangabad. It will create a corpus of Rs 1,000 crore to provide the initial working capital to the small and medium enterprises in defence and aerospace.
Maharashtra has a high number of ordnance factories, qwing to the state’s strategic location with uninterrupted connectivity.
Affordable Housing is yet another rapidly growing segment wherein a lot of private investors have already launched projects in Mumbai and rest of Maharashtra.
Moreover, the government expects a lot of demand in the textile sector. “Already, the state has received an investment of Rs 20,000 crore in 5,000 units with job potential of 3 lakh employees since February 2016. Almost 70% of these units are operational.” added Porwal.
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