Maharashtra government signs MoU for three projects worth Rs 4,500 crore and for generation of around 50,000 jobs

13 Jul 2015 Editorial Team

Blackstone will invest Rs 750 crore in developing EON Free Zone SEZ; Rs 1,200 crore in developing Hinjewadi Phase-III, Rs 1,500 crore in IT Park in Central Mumbai and Rs 1,050 crore in other IT parks in Mumbai. Coca Cola too announced investment of Rs 500 crore at Lote Parshuram in Chiplun (MIDC). Fadnavis’ tweet read, "Big news! Investment of around Rs 4,500 crore and jobs up to approx 50,000 to be generated. Results of new IT policy being shown within a week itself! In another tweet, he mentioned, ”Coca Cola announces Rs 500 crore investment at Lote Parshuram in Chiplun MIDC, Maharashtra.”

Fadnavis, during his interaction with industry executives from the US-India Business Council (USIBC), expressed satisfaction over the overwhelming response from US companies to make Maharashtra their investment destination. “The state eagerly awaits formation of JVs in important projects such as DMIC, smart cities, manufacturing, agriculture, aviation, engineering and IT,” said Fadnavis while addressing the meeting. He went on to say that his government is committed to giving a boost to Make in India and Make in Maharashtra campaign and invited investors to be part of Maharashtra's growth story.

The Maharashtra CM met Jagdish Rao, Head-Operations and Technology, Citigroup, and was assured of 4,000 jobs to be generated through expansion in Maharashtra.

Fadnavis said, “The policy reforms in the IT sector undertaken a week ago has already brought the dividends. During my US tour, I will reiterate the reforms in various sectors undertaken to explain why Maharashtra is the best investment destination for the US companies.” According to him, the biggest concern is to enhance the ranking of India in ease of doing business. As per a World Bank report, presently, India stands at rank 142 of 184 countries on the ease of doing business index. “It is my endeavour to bring Maharashtra in top 50. The policy reforms complete with time-bound project clearance and execution are integral aspects, which will keep us way ahead,” said Fadnavis.

He further emphasised, “We want US to be a part of Maharashtra growth’s story. The skilled human resources coupled with drive towards rapid economic growth gives us as edge.”

The Maharashtra Government on June 30, 2015 signed a Memorandum of Understanding (MoU) with Blackstone and Panchshil SPV for three projects worth Rs 4,500 crore and for generation of around 50,000 jobs. State Chief Minister Devendra Fadnavis reeled off opportunities in the state, along with reforms for ease of doing business. Blackstone will invest Rs 750 crore in developing EON Free Zone SEZ; Rs 1,200 crore in developing Hinjewadi Phase-III, Rs 1,500 crore in IT Park in Central Mumbai and Rs 1,050 crore in other IT parks in Mumbai. Coca Cola too announced investment of Rs 500 crore at Lote Parshuram in Chiplun (MIDC). Fadnavis’ tweet read, "Big news! Investment of around Rs 4,500 crore and jobs up to approx 50,000 to be generated. Results of new IT policy being shown within a week itself! In another tweet, he mentioned, ”Coca Cola announces Rs 500 crore investment at Lote Parshuram in Chiplun MIDC, Maharashtra.” Fadnavis, during his interaction with industry executives from the US-India Business Council (USIBC), expressed satisfaction over the overwhelming response from US companies to make Maharashtra their investment destination. “The state eagerly awaits formation of JVs in important projects such as DMIC, smart cities, manufacturing, agriculture, aviation, engineering and IT,” said Fadnavis while addressing the meeting. He went on to say that his government is committed to giving a boost to Make in India and Make in Maharashtra campaign and invited investors to be part of Maharashtra's growth story. The Maharashtra CM met Jagdish Rao, Head-Operations and Technology, Citigroup, and was assured of 4,000 jobs to be generated through expansion in Maharashtra. Fadnavis said, “The policy reforms in the IT sector undertaken a week ago has already brought the dividends. During my US tour, I will reiterate the reforms in various sectors undertaken to explain why Maharashtra is the best investment destination for the US companies.” According to him, the biggest concern is to enhance the ranking of India in ease of doing business. As per a World Bank report, presently, India stands at rank 142 of 184 countries on the ease of doing business index. “It is my endeavour to bring Maharashtra in top 50. The policy reforms complete with time-bound project clearance and execution are integral aspects, which will keep us way ahead,” said Fadnavis. He further emphasised, “We want US to be a part of Maharashtra growth’s story. The skilled human resources coupled with drive towards rapid economic growth gives us as edge.”