Chief minister Uddhav Thackeray on Tuesday assured private equity firms of full cooperation from his government and to reduce the number of permissions required for starting their business in the state. CM said that the state is working on a policy under which green industries will be allowed to start immediately and will not have to wait for permissions.
Thackeray organised an interactive session with representatives from private equity firms to understand their difficulties and the changes which the state can implement to attract more investors.
“The economic cycle started rolling. To attract more investment, we decided to adopt industry-friendly policy. We already dropped unnecessary permissions and will be reducing them even further. We are also planning to simplify the entire process. Moreover, green industries will not need many permissions and they will be allowed to start their operations as early as possible,” Thackeray said during the interaction.
Industries minister Subhash Desai said the state has already reduced the number of permissions to 25 from the earlier 76, and will welcome more suggestions from the industry.
Facing economic crisis due to pandemic, Maharashtra is set to roll out the red carpet to attract investment. The state planned to provide ‘Maha Parwana’, a master permission for new industrial units, within 48 hours of application, so that industries need no other permission and can start construction on the site immediately. The master permission will guarantee that all statutory permissions required to start operations will be delivered within a prescribed schedule (from three to 30 days), or else it will be considered a deemed approval. The policy is likely to be cleared soon.
Manish Kejriwal, managing partner, Kedaara Capitals; Sanjay Nayar, chief executing officer, KKR India; Amit Chandra, managing director, Bain Capital; and Vishal Mahadevia, managing director, Warburg Pincus also attended the interaction.
{{/usCountry}}Manish Kejriwal, managing partner, Kedaara Capitals; Sanjay Nayar, chief executing officer, KKR India; Amit Chandra, managing director, Bain Capital; and Vishal Mahadevia, managing director, Warburg Pincus also attended the interaction.
{{/usCountry}}Amit Dixit, senior managing director, Blackstone, suggested that the state should working on starting Pharma and Electronics Park in Maharashtra, said a senior official present in the meeting.