Mumbai

Uddhav to kick-start Magnetic Maharashtra 2.0 with 12 pacts

Uddhav Thackeray

Uddhav Thackeray  

Companies from U.S., China, South Korea, Singapore are keen to invest in State, said officials

Chief Minister Uddhav Thackeray on Monday will launch Magnetic Maharashtra 2.0 to revive the economy in post-COVID-19 times, as part of the State government’s ‘Mission Begin Again’. This will be the first major government event promoting the industrial development of the State, since the outbreak of the COVID-19 pandemic.

The State will be signing 12 memorandums of understanding (MoUs) with Indian as well as companies from the U.S., China, South Korea, and Singapore.

The foreign companies, from diverse sectors such as engineering, car and spare parts manufacturing, information technology, logistics, chemical, and food processing, have agreed to invest in the State, according to an official from the Industries Department. A special session via videoconferencing will be held at 6.30 p.m. on Monday, which will be attended by industrialists, ambassadors from several countries, and investment agency representatives, along with Mr. Thackeray, Industries Minister Subhash Desai, and other officials.

The official said Maharashtra is a preferred destination of businesses and aims to re-establish a supply chain in south-east Asia.

“Monday’s event will kick-start Magnetic Maharashtra 2.0. The State has offered plug and play infrastructure, a land bank of over 40,000 acres, flexible rent and cost mechanisms, and automatic licences in 48 hours through Mahaparvana and labour bureau to fulfil the need of workers. All these initiatives by the State will surely attract more investments,” the official said.

The previous government had launched the Magnetic Maharashtra summit with an aim to bring in investments worth ₹10 lakh crore. Though the then government had claimed several MoUs were signed, the Opposition had questioned how many translated into investments on the ground.

While the lockdown has hit industries and trade, relaxations offered by the State are beginning to restart the economic cycle. The Industries Department claimed that it had begun over 60,000 businesses and over 15 lakh workers had reported for duty.

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Printable version | Jul 14, 2020 5:13:16 AM | https://www.thehindu.com/news/cities/mumbai/uddhav-to-kick-start-magnetic-maharashtra-20-with-12-pacts/article31829314.ece

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