Maharashtra to hold its first global investors summit next month

The three-day summit, to be inaugurated by Prime Minister Narendra Modi on February 18, is Maharashtra’s big economic push

Against the backdrop of social fissures and an agrarian crisis, the state government on Saturday unveiled its plans to launch the first edition of its global investors summit in February, titled Magnetic Maharashtra : Conversion 2018.

Maharashtra CM Devendra Fadnavis and MLA Subash Desai at a curtain raiser for Magnetic Maharastra in Nariman Point on Saturday. (Anshuman Poyrekar/HT)

The three-day summit, to be inaugurated by Prime Minister Narendra Modi on February 18, is the state’s big economic push after it hosted the PM’s Make in India initiative in 2016. The summit, the tagline of which reads ‘MadeForBusiness’ will focus on future industries, infrastructure, employment and sustainability. The state plans to invite global political leaders and CEOs of multinationals to participate in the event.

“The state gets 50% of the country’s foreign direct investment and has 50% of all big-ticket infrastructure. The summit will strengthen our position as the gateway for all industrial investments in India. It will be the convergence of ideas, leaders and businesses,” said chief minister Devendra Fadnavis.

At the curtain raiser function for the summit at Trident Hotel in Nariman Point, he said that if the state continues to grow at the rate of more than 10% a year, it can become a trillion-dollar economy in the next seven to eight years..

Fadnavis also brushed aside concerns that recent incidents of social tension and violence would hamper businesses. “Maharashtra has had a good law and order scenario in the past three years. Businesses will vouch for this. Our people are our strength,” he added.