State to sign 12 MoUs worth ₹16000 crore to push industrial activities

Maharashtra government is set to sign a dozen memorandum of understanding (MoUs) with major companies across the globe as a part of the Magnetic Maharashtra 2.0

Maharashtra government is set to sign a dozen memorandum of understanding (MoUs) with major companies across the globe as a part of the Magnetic Maharashtra 2.0 - the second instalment of the global investors summit, held in February 2018. The MoUs will be inked with companies from the US, China, South Korea, Singapore and India on Monday is expected to bring in an investment of ₹16,000 crore to the state.

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Industries department officials said that the state government will unveil its plan for Magnetic Maharashtra 2.0 roadmap. Chief Minister Uddhav Thackeray, industries minister Subhash Desai and global business leaders, Country missions and Bilateral investment agencies will participate via video conferencing.

The investments represent a diversity of sectors including - Engineering, Automobiles, Food Processing, Electronics System & Design Manufacturing (ESDM) sector, IT/ITeS and many others, industries department officials said.

An official said that the state’s push to revive economic activities aims to convey its readiness for a post-pandemic world. “Some of the features of the roadmap include the plug and play infrastructure, an earmarked landbank of more than 40,000 acres, flexible rental and pricing structures, automatic permissions in 48 hours, specialized labour protection guidance and an Industry employment bureau for local skill and capacity matching for industries,” a statement from the chief minister’s office said.