Magnetic Maharashtra investors’ summit: New policies planned to attract investment in key sectors | mumbai news | Hindustan Times
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Magnetic Maharashtra investors’ summit: New policies planned to attract investment in key sectors

The state has identified key industries, such as defence, aerospace, food processing, infrastructure, textile, and jewellery.

mumbai Updated: Feb 04, 2018 00:38 IST
Swapnil Rawal
The investors’ summit is viewed as chief minister (CM) Devendra Fadnavis’ answer to ‘Vibrant Gujarat.’
The investors’ summit is viewed as chief minister (CM) Devendra Fadnavis’ answer to ‘Vibrant Gujarat.’(HT file photo)

Ahead of the three-day global investors’ summit ‘Magnetic Maharashtra: Convergence’ to be held on February 18, the Maharashtra government is going to announce new policies for key sectors with the aim of attracting more investors.

Senior officials of the industries department said that the state has identified key industries, such as defence, aerospace, food processing, infrastructure, textile, jewellery, logistics, and data centre, among others to attract investors.

The investors’ summit, to be inaugurated by Prime Minister Narendra Modi, is also viewed as chief minister (CM) Devendra Fadnavis’ answer to ‘Vibrant Gujarat’, conceptualised by Modi during his tenure as the Gujarat CM.

State industries minister Subhash Desai said that the policies will be positioned to project Maharashtra as the “preferred investment destination” and will spell out the incentives and advantages of setting up industries in the state.

“We are working on policies for certain sectors that will give impetus to the growth of industries. Of course, there is competition between states. We will project Maharashtra as the preferred investment destination,” Desai said.

He added that the policies will also aim to provide ‘ease of doing business’ and reduce administrative hurdles.

“Industries are concerned about how the incentive package would translate in the GST regime. We will address these concerns,” Desai added.

Sunil Porwal, additional chief secretary, industries department, said, “The CM desires that the policies be ready within a few days, as they need to be cleared before the event. These will be an addition, as we already have others in place - such as the industrial policy, IT policy, and women entrepreneur policy.”