Make in Maharashtra: Rs8L crore promised, only Rs30k crore invested | mumbai news | Hindustan Times
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Make in Maharashtra: Rs8L crore promised, only Rs30k crore invested

Economic survey reveals state signed 3,018 MOUs during the Make in India event last year, only 222 projects had taken off as of Nov 2016

mumbai Updated: Mar 18, 2017 01:11 IST
Faisal Malik
The Maharashta government has managed to convert only 3.84% of the total investment promised in the Make in India event held in Mumbai last year into reality, according to the Economic Survey of Maharashtra for 2016-17.
The Maharashta government has managed to convert only 3.84% of the total investment promised in the Make in India event held in Mumbai last year into reality, according to the Economic Survey of Maharashtra for 2016-17.(HT)

The Maharashta government has managed to convert only 3.84% of the total investment promised in the Make in India event held in Mumbai last year into reality, according to the Economic Survey of Maharashtra for 2016-17.

The figures in the report reveal that the state received an investment of around Rs30,000 crore for a proposed 244 projects in the industries sector. Of these, 222 projects with an investment of Rs28,625 crore have taken off even as 22 projects worth Rs2,361 crore got commissioned by November last year.

During the Make in India event held in February last year, a total of 3,018 Memorandums of Understanding (MOUs) were signed by the state, under its Make in Maharashtra programme, with a proposed investment of Rs 8,04,897 crore and employment to be generated for around 30.5 lakh people.

However, Apoorva Chandra, principal secretary, industries department said the figures in the report did not present the entire picture in the state, because the data was only until November last year. “Of the total proposed investment of more than Rs8 lakh crore, projects worth an estimated Rs4 lakh crore were pertaining to manufacturing sector. From these, progress has already been made on projects worth Rs 1.07 lakh crore. For instance, in some cases, land and other requisite permission has been sought while in some other cases, plots are also being made available,” Chandra told HT.

The report also said that Maharashtra succeeded in attracting the highest number of industrial proposals in the past 15 years, but when it came to the amount in investment, neighbouring state Gujarat has raced ahead.

Maharashtra bagged 19,437 projects with an investment of Rs11,37,783 crore, which is 10% of the total investment received across all states. However, Gujarat despite getting 13,308 projects managed to attract investment of Rs 14,36,962 crore, which is 2.6% higher than Maharashtra, according to the report that was tabled before the state legislature on Friday.

Of the total projects received by the state in the past 15 years, 8,664 projects with an investment of Rs2,69,814 crore were commissioned, generating employment for about 1.45 lakh people. A total of 2,107 projects with an investment of Rs 87,701 crore with proposed employment of 2.98 lakh are in the execution stage , the report further adds.

The report also said Maharashtra is the only state that has attracted highest investment in the IT industry across the country. The state has got investment of Rs3,87,433 crore with the help of 476 projects, of which 289 projects were commissioned, bringing an investment of Rs 58,322 crore since August 1991.

The report does not have last year’s figures for the performance of micro-, small- and medium-scale enterprises (MSME), which could have given a real-time indication of the impact of demonetisation on this sector.

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