Maharashtra offers land to foreign cos to boost investment

news
18 June 2015

As part of its policy of attracting more foreign investment to the state, the Maharashtra government plans to offer land to multinational corporations in Amravati, Aurangabad and Nashik.

''Foreign investors are eager to invest in various sectors in the state after being convinced of the change in culture and ease of doing business,'' Maharashtra industries minister Subhash Desai said.

Maharashtra chief minister Devendra Fadnavis and Desai recently visited Hanover in Germany, eyeing huge investment in the state.

To start with joint ventures will be formed with prominent Indian companies such as the Kalyani Group, Reliance and Larson and Toubro.

In February 2015, the $2.5-billion, Pune-based Kalyani Group had entered into a joint venture with Israel's second-largest defence company Rafael Advanced Defense Systems Ltd to manufacture high technology systems for India's defence sector. (Kalyani Group signs JV with Rafael Advanced Defence Systems)

The industries department has decreased the number of licences required to start business from 75 to 25, which will be formally announced on 24 June Desai added.

''There is possibility that these companies may manufacture parts of combat aircraft and parts of submarine or warships in Maharashtra,'' he said.

''Some major foreign companies have approached us and are eager to invest in the defence sector. They have the technology and we have the resources. These companies are expected to visit Maharashtra in coming days and we have even thought about the sites we will offer them,'' Desai said, refusing to name the companies.

''The manufacturing companies will need airport facilities that are available in Nashik, Amravati and Aurangabad,'' he said, adding that the state has a large land bank of about 48,000 acres belonging to the Maharashtra Industrial Development Corporation.

Meanwhile, the recent decision of the Centre to exempt industries requiring over 20,000 metres land from getting a clearance of the Environment Department has given the manufacturing sector a boost in the state.

''The Union government has removed the mandatory clearance for industries that require more than 20,000 metres of land,'' the minister said.

''Mercedes is the first beneficiary of this new rule and its production has started recently at Chakan," Desai pointed out.

On 16 June the Maharashtra government had unveiled its new information technology policy that aims to attract an investment worth Rs50,000 crore and generate employment for 10 lakh people in the state.





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