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PM Modi's 'Make In India' gets Rs 8 lakh cr investment pledge

Maharashtra Chief Minister Devendra Fadnavis Today Said The State Has Got Investment Commitments Worth Over Rs 8 Lakh Crore Spread Across Regions, Including The Less-developed Marathwada And Vidarbha, At The Just-concluded ‘Make In India’ Week (MIIW).

PTI | Updated on: 18 Feb 2016, 08:39:23 PM


Maharashtra Chief Minister Devendra Fadnavis today said the state has got investment commitments worth over Rs 8 lakh crore spread across regions, including the less-developed Marathwada and Vidarbha, at the just-concluded ‘Make in India’ Week (MIIW).

The state has signed 2,594 memoranda of understanding across various sectors such as energy, real estate, textiles, MSMEs, IT and ITeS, tourism, ports, retail, medical and skill development, among others.

He said the state has received the maximum investment commitment of Rs 3.25 lakh crore for the Konkan region, which also includes the Mumbai and the Mumbai Metropolitan Region (MMR).

“For the backward Marathwada and Vidarbha regions, the state signed MoUs worth Rs 1.5 lakh crore. This is for the first time we have seen investment interest shifting to these regions,” he added.

While the Pune region attracted investment commitments of about Rs 50,000 crore, around Rs 25,000 crore worth of MoUs were signed for Khandesh in the north-eastern part of the state.

The event has showcased the country as “the biggest show of cooperation, competitive and collaborative federalism”.

According to Fadnavis, the investment commitments received showcase the opportunities of more investments in the state. “These MoUs show these regions have the power to attract more investments,” he said.

He added that the state has in fact received many more investment interests, but it has to limit signing of MoUs to 2,594, as each and every agreement has to be vetted by the Industries Ministry and other departments concerned.

“We have received many offers for MoUs, but we could not accommodate all. All MoUs that are signed have been vetted by various departments. Going by the offers we have received, the numbers could have crossed Rs 12 lakh crore,” he said.

The chief minister claimed that the event has “made a mark in the history of our country and has set a standard which we will now have to match or even better”.

Fadnavis was clear that the next job of his government is to ensure these MoUs are translated into actual businesses and create the desired jobs.

During the Make in India Week, the state has unveiled many policies, including a new one on IT, besides those for sectors like electronics, food and beverages (F&B) and MSMEs, among others.

“While Rs 60,000 crore worth of investments have been committed to electronics and F&B sectors, the new IT policy has fetched us investment commitments worth Rs 25,000 crore.  The MSME policy could attract thousands of entrepreneurs who have signed around Rs 15,000 crore worth of MoUs guaranteeing huge employment generation,” Fadnavis added.

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First Published : 18 Feb 2016, 08:37:00 PM