Maha govt takes slew of initiatives to attract investments

Mumbai, Dec 12 (IANS) The Maharashtra government in a serious bid to maintain its pre-eminence in attracting domestic and foreign investments on Thursday announced a slew of initiatives including setting up a “country desk” to advise and assist investors in their proposals.

The government said that the emphasis will be placed on creating policies consistent with global and regional investment trends for new investments. Efforts will be made to increase coordination between the state government and major industry groups.

The state government has already sent communication with potential investors for preferential investments in Maharashtra. The government will provide continuous support to investors. The MoUs signed to date will be implemented on a fast-track basis and the state government will make all efforts to create awareness regarding investment opportunities in Maharashtra.

According to the Chief Minister’s Office, the government will increase cooperation with multilateral organisations and development banks, step up coordination with embassies and trade associations, and encourage the Marathi migrant community in Maharashtra to invest.

In addition, the government will focus on attracting investments on a priority basis in various sectors such as electronics, textiles, automobiles and pharmaceuticals.

Maharashtra Industrial Development Corporation (MIDC), Maharashtra Industry, Trade and Investment Facilitation Cell and Directorate of Industries will play an active role in the implementation of these new initiatives to attract more investments in the state.

Further, the government will craft new investment strategies in line with global and regional trends and encourage Maharashtrian entrepreneurs from abroad to invest in the state.

The state government’s move is crucial especially when Maharashtra has topped in getting FDI in two consecutive years 2023-24 and 2024-25. The state topped the country in foreign direct investment with Rs 1,25,101 crore in 2023-24 and it again topped the country in the first two quarters, from April to September of this year 2024-25 with FDI of Rs.1,13,236 crore, which is more than 90 per cent of last year’s total FDI. The state is a preferred destination for FDI.

Maharashtra is one of the leading industrial States in the country. Maharashtra contributes more than 14 per cent to the country's total GDP. The government has set a very ambitious target of making Maharashtra the first state in the country to achieve the target of a one trillion US dollar economy by the year 2027-28.

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