45% ‘Make in India’ MOUs translate into investments | mumbai news | Hindustan Times
Today in New Delhi, India
Mar 29, 2017-Wednesday
New Delhi
  • Humidity
  • Wind

45% ‘Make in India’ MOUs translate into investments

mumbai Updated: Sep 30, 2016 23:36 IST
Manasi Phadke
Make in India

The state government has also decided to improve infrastructure across the state’s industrial areas by pulling in Maharashtra Industrial Development Corporation.(HT File Photo)

About 45 percent of the proposed investments that the BJP-led Maharashtra government had bagged during the ambitious ‘Make in India’ conclave in February have started to materialise and translate into actual work, said the state industries department.

The state had touted to have signed 2,606 MoUs worth Rs 8.04 lakh crore during the grand conference held in Bandra Kurla Complex. “Of all these MoUs, 262 companies have actively come forward, identified lands with many even having paid the required amount to show that they are serious about their investment in Maharashtra.These companies together have committed an investment of Rs 3.65 lakh crore,” said state industries minister Subhash Desai.

These include names such as General Motors at Talegaon, Vedanta Group’s Twin Star Technologies either in Vidarbha or Marathwada, Coca Cola Co and Raymond at Nagpur, Monsanto in Buldhana district, Mahindra & Mahindra in Chakan and so on. Besides, Taiwan’s Foxconn, Japan’s Sharp Corp, and Soft Bank are looking at land in the state to set up a Rs 30,000 crore solar energy project.

Similarly, 474 MoUs signed with small and medium-sized industries have also translated into actual investments, bringing in Rs 6,247.38 crore investment and creating 21,404 jobs, Desai said.

While bringing in investment, the state government has also decided to improve infrastructure across the state’s industrial areas by pulling in Maharashtra Industrial Development Corporation (MIDC). “To avoid blame games between multiple agencies, we have asked the MIDC to take responsibility of augmenting the required infrastructure related to power, sewerage and so on,” the Shiv Sena minister said. The government also plans to constitute a special purpose vehicle comprising representatives from industries, the pollution control board and the state government to establish common effluent treatment plants in industrial areas.

Besides, the state government has decided to adopt a new policy while allotting land to industries for more transparency and maximising the government’s revenue. As per the policy, all MIDC land allotments will be completed within 1.5 months of advertising for the plots. Desai said, “We realised that there were cases in the past where there has been misappropriation in land allotments. With this policy, all allotments will be transparent, time-bound and no one person will be able to influence the decision.”

Under the new policy, the MIDC has divided its 280 industrial estates across the state into two categories - first where there is high demand and second where less than 80% plots have been allotted so far. “Competitive bidding for the second category will not work since the demand itself is low there. The plots will be advertised, inviting applications online, after which the MIDC’s Land Allocation Committee scrutinises the applications and jointly decide the allottee,” Desai said, adding plots across 30 industrial estates have already been advertised for allotment.

To ensure the process is speedily completed, companies will be given 15 days for online application and the allotments will be finalised within a month after that, he added.