Despite pandemic, Maharashtra proves 'magnetic' for investors

Amid the Covid19 pandemic Maharashtra remains the biggest magnet for investors attracting a whopping Rs 112 lakh crore plus worth of industrial investments in the past six months Chief Minister Uddhav Thackeray said on TuesdayThe state signed 25 fresh MoUs with investment commitments of Rs 61000 crore spanning 15 different sectors with an estimated potential of creating 270 lakh new jobs in the state under the Magnetic Maharashtra 20The third MoU signing ceremony was held in the presence of Thackeray with industry bigwigs from pharmaceuticals healthcare biotechnology foodprocessing FMCG steel automobiles engineering oil amp gas sectors in attendanceIn June the state secured commitments of Rs 17000 crore investments followed by November with another Rs 35000 crore besides Rs 14000 crore more in organic investments via the states advanced single window clearance system implemented in 2020Speaking on the occasion Thackeray noted that the state hopes to cross the total investments target of Rs 200000 crore during the financial year 20202021The Rs 112 lakh crore investment commitments received underscore the states positive domestic business sentiments which is in tune with the vision of a selfreliant India and thereby Maharashtra he pointed outHe said that Maharashtra has been numero uno and at the forefront of FDI inflows in India attracting the largest share of approximately 30 per cent of Indias cumulative Foreign Direct Investment FDI inflows during April 20002020In the past 15 years the states journey has included an increase in FDI inflow from Rs 2543 crore in 200405 to Rs 79216 crore in 201920 and now upto Rs 112 lakh croreEncompassing key investment promotion initiatives under Magnetic Maharashtra 20 such as Plug amp Play Infrastructure the state government has launched schemes like Maha Jobs Maha Parwana Investor First Programme Capacity Augmentation of MIDC land banks and Dedicated Country Desks said a senior Industry Department officialThis has helped consolidate industrial growth and boost the confidence of investors catapulting the state as one of the most favoured investment destinations in India thereby boosting the industrial sector of the state he saidAccording to the official that coupled with the states robust FDI pipeline of an additional Rs 79000 crore the state intends to surpass its previous targets and cross Rs 2 lakh crore in formal industrial investment intentions signed by the state during this fiscalExpressing satisfaction at the outcome the CM reiterated the states commitment to industries sector diversity indigenous capacities future readiness and the prowess for execution for the states allround progress and developmentWith this Magnetic Maharashtra 20 bolsters the message that Maharashtra the torchbearer of Indias growth is now Open for Business Thackeray assertedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever