Maharashtra 1st to get major manufacturing investment of Modi government
Fadvanis after inaugurating the second phase of the plant, said, “This is the first major manufacturing investment by a top global corporation, post-2019 general elections.”Updated: Jun 04, 2019 05:44 IST
Days after the Narendra Modi government was sworn in for a second term, Maharashtra became the first state to get a major manufacturing investment — ₹350 crore — for the second phase of Harman, a subsidiary of Samsung Electronics Co. The expansion of its automotive electronics manufacturing plant at Chakan, Pune, was on Monday inaugurated by chief minister Devendra Fadnavis in the presence of NITI Aayog CEO Amitabh Kant.
Fadvanis after inaugurating the second phase of the plant, said, “This is the first major manufacturing investment by a top global corporation, post-2019 general elections.”
The plant will ensure substantial growth in production of digital cockpit units and telematics control units.
After the inauguration of the plant, Fadnavis said global investors are the brand ambassadors of the state as their experience helps in bringing in more investment, rather than the government approaching global players for investment. “Maharashtra had become the automobile hub of India with a market share of 38% in the country. Prime Minister Narendra Modi rightly calls Pune the Detroit of India as it has immense potential to be a global hub. All global brands in the sector have their facilities in Maharashtra and they have been continuously adding to their capacity,” he said.
Fadnavis said that Maharashtra has a total eco-system developed for the industry, with the help of better law and order, availability of best human resources and industry-friendly initiatives, among others. “In the second term of Modi government, it is time for more dynamic policies, since the course-correction phase has been over and we intend to attract investment by making it more hassle-free,” he said.
Harman’s Chakan plant, established in 2014, is part of Harman’s global automotive manufacturing network. The second phase inaugurated on Monday will help the company increase its production capacity by three times by 2021. Kant said that India is set on a high trajectory of growth rate by undertaking a series of structural reforms across the sectors. “They will help us catalyse private-sector investments and job creation,” he said.
Harman will also double its factory headcount to about 800 employees in the same time period.
Harman will install four new world-class SMT production/assembly lines, scaling from existing two to six lines, to meet the growing demands for innovative connected car solutions globally.
First Published: Jun 04, 2019 05:43 IST