Magnetic Maharashtra Attracts $ 2 Billion

Maharashtra Industrial Development Corporation signs 25 MoUs with a proposed investment of almost $2 Billion (INR15,260 crores) during the first day of the Magnetic Maharashtra campaign in Duai during the Expo 2020 … reports Asian Nite News

Officials of the Maharashtra Industrial Development Corporation signs 25 MoUs in key sectors with a proposed investment of almost $2 billion. The new investments in thrust sectors like Auto & Auto Components, Logistics, EV, Textiles, Data Center, Phama, Bio-fuels and Energy will generate over 10,000 jobs.

Mr Subhash Desai, Minister of Industries, said the investment will generate high income, highly skilled jobs for the new generation Indians.

“Maharashtra is open for business,” he added. “The first lot of MoUs has once again reiterated the state’s belief in industries, sector diversity, indigenous capacities, future readiness and the executional prowess. With this Magnetic Maharashtra 2.0 bolsters the message that Maharashtra – the torch bearer of India’s growth is “Open for Business.”

Dr Anbalagan CEO, MIDC and Nodal Officer, Dubai Expo, Mr Suresh Kumar, Chairman, Indian Professional & Business Forum (IBPC), Dilip Sinha, Secretary General, IBPC, Rahul Tulpule, Gulf Maharashtra Business Forum, Dr Sanjay Paithankar were present.

The first international edition of the 7-year-old Magnetic Maharashtra 2.0 is garnering support from various business corners. The incentives and the business friendly business climate are attracting global investors to Maharashtra. It is interesting to note that all the interested FDI investors are of the sectors where Maharashtra has dedicated promotion policies. This signifies the importance of State Government’s pro-activeness in policy development and good governance. Companies from six countries ie Japan, Singapore, Sweden, Korea, Germany and Italy will be investing in Maharashtra.