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Home / Mumbai News / Make in India Week: Maharashtra targets Rs4-lakh-crore inflow

Make in India Week: Maharashtra targets Rs4-lakh-crore inflow

Chief minister Devendra Fadnavis says government plans to unveil five major policies to attract investment from dozens of foreign delegations

mumbai Updated: Feb 09, 2016, 00:32 IST
Hindustan Times
Union minister Nirmala Sitharaman and chief minister Devendra Fadnavis during the ‘Make In India Week’ curtain-raiser press conference on Monday.
Union minister Nirmala Sitharaman and chief minister Devendra Fadnavis during the ‘Make In India Week’ curtain-raiser press conference on Monday. (Pratham Gokhale)

The Maharashtra government is aiming to gain big from the Make In India Week, slated to take off on February 13 in Mumbai. The government has set the target of wooing investments worth Rs 4 lakh crore from various sectors, including automobiles, information technology and electronics, among others. The week-long Make In India Week will be inaugurated by Prime Minister Narendra Modi, who will also attend dinner with 800 dignitaries at Turf Club, Mahalakshmi.

Though chief minister Devendra Fadnavis did not officially state the target of the MOUs planned, during the curtain-raiser press briefing on Monday at MMRDA, officials claimed they were looking at such a target to attract the highest possible investment in the state. Fadnavis said figures are always tricky and may prove unfaithful at times, but added that the government plans to unveiling five major policies, including for retail industries and electronics, during the week.

He said that the industries department has been in deliberations with leading companies from various sectors across the globe for the past three months and the government’s endeavour will be to attract serious investors before signing MOUs. He said the government’s thrust would also be on the actual translation of the investments proposed. The last big-bang announcement from the state government came in 2015, when it bagged Taiwanese electronics manufacturing giant Foxconn’s $5 billion deal to set up a plant here.

Fadnavis also said that his government has aimed at showcasing the Mumbai as not only the financial capital of the country but its entertainment capital and a safe city.

The CM also claimed that the Week will help the government get a big boost for the agriculture sector. “We are also targeting the agro0processing and tapping opportunities in the textile sectors. Though Maharashtra is the largest producer of cotton, only 25% of the produce is processed in the state. With the help of the textile policy, we are aiming to realise the prime minister’s dream of farm to fashion by tapping the potential in textiles,” he said.

Nirmala Sitharaman, minister of state for commerce and industries, who was also present at the programme, said the fundamentally strong financial position of the country will be further strengthened during the week. “When all the leading countries are going through tough financial conditions and witnessing economic slumps, India is the only country which has seen huge foreign direct investment. While the FDI percentage at the global level is minus 16, it has been 38% in India in the past 18 months. Our efforts to give a boost through ease of doing business and other initiatives have proved fruitful and some backward states like Jharkhand have surprisingly performed beyond imagination,” she said.

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