Prime Minister Narendra Modi will inaugurate the three-day ‘Magnetic Maharashtra: Convergence 2018’ concave in Mumbai on Sunday, said officials.
After inaugurating the state’s first-ever Global Investors Summit at the MMRDA Grounds in Bandra Kurla Complex (BKC), Modi will interact with corporate chiefs at high tea, along with Chief Minister Devendra Fadnavis.
The conclave is said to be one of the biggest event of its kind after the Prime Minister’s ‘Make in India’ initiative launched in February 2016 in Mumbai.
The conclave, which goes by the tagline #MadeForBusiness, will intend to sign near about 5,000 MoUs, wherein an investment of Rs 10 lakh crore (nearly 156 billion USD) is expected, which will generate employment for 35 lakh people.
Fadnavis said ahead of the conclave, “In past couple of years, Maharashtra has achieved a new trajectory in bolstering the state's industrial output. This is evident in multiple reports released by reputed financial bodies that places the state ahead of the rest in Ease of Doing Business, as also statistics such as 50 per cent of infrastructural development of India being clocked in Maharashtra.”
Prime Minister Narendra Modi took to Twitter to share his day plan of the event.
Apart from the business conclave, an exhibition with flagship projects of the state government will be held till February 23. The flagship projects to be displayed include Mumbai Metro, Mumbai-Nagpur Super Communication Expressway, Mumbai Coastal Road, Mumbai Trans-Harbour Link, and the Navi Mumbai International Airport.
The foundation stone for the Navi Mumbai International Airport will be laid by PM Modi on the same day.
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Devendra Fadnavis described the concept of ‘Magnetic Maharashtra’ in four main pillars, employment, sustainability, infrastructure, and future industries. He also said that the government is focusing on building ‘future-ready state’ which features consistently among top world destinations for industrial innovation and smart manufacturing.
With the onset of the summit, the state government hopes to strengthen Maharashtra’s position as ‘gateway’ for all industrial development in the country where the best minds, industries, government machinery converge to co-create.
The summit will host a competition titled ‘Magnetic Maharashtra Start-Ups under 30’, with prizes of Rs 50 lakh, Rs 30 lakh, and Rs 20 lakh for top three innovative start-ups, as an idea to motivate and support young entrepreneurs.
Reliance Industries Ltd Chairman and MD, Mukesh Ambani, Richard Branson of Virgin Atlantic, Tonino Lamborghini SpA President Tonino Lamborghini, Edward Monser, President, Emerson Electric Co, Hande Diltemiz, country manager, Global production, India, H&M, Cho Hyun-Joon, chairman, Hyosung Group, Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World, are among some of the participants who have agreed to be a part of the conclave.
Apart from top Indian ministers and officials, representatives of foreign governments like Karin Roding, Sweden's State Secretary to the Minister, and Bardish Chagger, Canada's Minister of Small Business and Tourism, Waterloo, NITI Aayog CEO Amitabh Kant will also be participating.
The event, co-organised by Maharashtra Industrial Development Corporation and CII (Confederation of Indian Industry), will also showcase automobiles, auto components, defence, food processing, IT/ITES, electronics, heavy engineering, pharmaceuticals, and other sectors where scope for development is available in the state.
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