Latest news with #MAITRI
Hindustan Times
8 hours ago
- Business
- Hindustan Times
2 new MAITRI panels to boost investments in the state
MUMBAI: To promote industrial development and investments, the Maharashtra government has recently formulated a new mechanism that entails a three-tier system for the timely disposal of investment applications. It encompasses MAITRI (Maharashtra Industry, Trade and Investment Facilitation Cell), an empowered committee, and a supervisory committee. 2 new MAITRI panels to boost investments in the state The committees will facilitate investors, monitor progress of memoranda of understanding, prepare benchmark study reports according to globally recognised best practices, and collaborate with national and foreign embassies, consulates, industry associations, and ministers of other countries to identify potential investors and generate investments in the state, among others. The nine-member empowered committee would be headed by the development commissioner (industries) and chief executive officer (CEO) of Maharashtra Industrial Development Corporation (MIDC), managing director of Maharashtra State Electricity Distribution Company Limited (MSEDCL), and member secretary of Maharashtra Pollution Control Board (MPCB), who will all work with other members. The secretary (Industries) will head the high-level supervisory committee, which will comprise secretaries from departments of energy, labour, environment, revenue, urban development (I), urban development (II), rural development, finance, law and judiciary and food and civil supplies, among other officials. 'As many as 115 services that are related to several state departments are being offered to the investors through the Maitri application, a single window system of the state. Even though the concerned departments are being given a timeframe to dispose of the applications, it gets delayed. With the new system, we have resolved this problem,' said a senior industry official. This system came into effect after the state government framed the Maharashtra Industry, Trade and Investment Facilitation Rules, 2025. A notification towards the same was issued by the state industries department on August 5. The objective is to provide the best ecosystem to investors, as most states are trying to attract investors these days, the officials said. According to the notification, if the competent authority fails to dispose of an application within the specified time limit, then the matter will be automatically transferred to the empowered committee, which will have to dispose of the application within 15 to 45 days. During this time, the empowered committee will ensure execution and compliance of its orders and issue necessary directions to the competent authorities for expeditious actions. 'It will recommend process simplification of procedures and adoption of digital solutions to enhance transparency and promote Ease of Doing Business (EoDB), suggest conducting a comprehensive review of existing procedures to identify areas for streamlining, simplification and elimination of unnecessary steps to enhance efficiency, among others,' states the notification. The empowered committee has also been tasked with evaluation of the impact and reach of marketing campaigns, branding initiatives and promotional materials, reviewing the success of sector-specific initiatives, such as incentives, subsidies, and tax breaks, facilitating the timely and successful implementation of investment MoUs, among others. The supervisory committee will review the actions taken by the empowered committee, assess their effectiveness, provide guidance to ensure timely resolution and compliance, and give explicit guidance to all the competent authorities. Formulating visionary policies, fostering global partnerships, and driving ecosystem-level initiatives to attract sustainable and high-impact investments to have a significant positive impact on a state's economy. Investment promotion initiatives that attract investments and make Maharashtra the most preferred destination for investments globally,' it stated further. The new rules have brought greater responsibilities for MAITRI as the nodal agency of the state. It will have to collaborate with national and foreign embassies, consulates, industry associations, and ministers of other countries to identify potential investors and generate potential investments. 'Conducting roadshows across districts, states, and chosen international destinations in collaboration with MIDC; setting up of country desks or sectoral analysis to determine global sectoral trends; establish connections with venture capitalists or angel investors; establish connect with Marathi diaspora living abroad and encourage them to invest in the state; create and promote a platform to establish buyer-seller connect and facilitate investors for setting up their businesses in Maharashtra by publishing information on 'land bank' in association with MIDC,' the notification stated.
Gulf Today
10-07-2025
- Business
- Gulf Today
Abu Dhabi Customs, Indian delegation explore cooperation to facilitate bilateral trade
The General Administration of Abu Dhabi Customs hosted a workshop in collaboration with an official delegation from the Republic of India, led by Arti Agarwal Srinivas, Director-General of Systems and Data Management at the Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance, India. The delegation also included representatives from the Embassy of India in Abu Dhabi. The workshop aimed to explore avenues for strengthening cooperation in facilitating bilateral trade, enhancing supply chain efficiency, and advancing the digital trade corridor between the two nations. During the visit, the delegation met with Rashed Lahej Al Mansoori, Director-General of Abu Dhabi Customs, where both sides discussed opportunities to deepen customs cooperation and accelerate digital transformation across the customs sector to enhance procedural efficiency and ensure the seamless flow of goods across borders. The workshop showcased Abu Dhabi Customs' advanced digital ecosystem, highlighting its cutting-edge technical capabilities in managing customs operations. These include a smart, integrated infrastructure that provides around-the-clock customs services, in conjunction with the invisible customs ecosystem, blockchain technologies, and government service platforms such as TAMM and ATLP. Key technical topics discussed included system integration between both countries, mechanisms for data exchange, and streamlined customs procedures. These discussions were held within the framework of the MAITRI initiative, a middleware platform designed to interconnect with various national systems to facilitate international trade. The initiative serves governmental bodies, customs authorities, importers, exporters, and logistics service providers, aiming to establish a secure and fully digital trade corridor. This would enable faster customs clearance, improved transparency and compliance, enhanced trade fluidity, and a reduction in transaction time and cost between the two sides. This workshop aligns with Abu Dhabi Customs' strategic efforts to bolster partnerships with international customs administrations and develop innovative digital solutions that support global trade, in line with the economic development objectives of Abu Dhabi and the UAE. WAM
Hans India
25-06-2025
- Business
- Hans India
Maharashtra wants to be first chapter in India's growth story: CM Fadnavis
Mumbai: Chief Minister Devendra Fadnavis said on Wednesday that Maharashtra wants to be the first chapter in India's growth story and a major contributor in Prime Minister Narendra Modi's Viksit Bharat 2047 mission. In his speech at the Maharashtra Industry Dialogue 2025, organised by the Maharashtra Industrial Development Corporation, the Chief Minister told the investors that it is an exciting time to be in Maharashtra as the government is embracing new policies which are dynamic and the best. 'The Cabinet committee on investment is forthcoming. We understand the needs of industry, we are not rigid but ready to adapt to what the world is embracing to become the most favourite investment destination. The single window system titled MAITRI is an end-to-end integration which gives a seamless experience to investors and makes the entire investment process hassle-free,' he added. CM Fadnavis said that the government is creating an ecosystem in different geographies which were skewed earlier. But the government is changing this narrative so that different geographies will be competing in this Industrial Revolution. 'Gadchiroli 10 years ago was a zero industrial area, nobody thought that it would become an Industrial magnet. Due to a slew of policies, Gadchiroli is becoming a new steel city of India to produce one-third of India's steel that will change the entire outlook of the district,' he remarked. Referring to the Rs 76,000 crore Vadhavan port, Fadnavis said the upcoming huge port capacity there will lead to port-led development. 'Vadhavan port will be connected through an access control road to Samruddhi Mahamarg near Nashik that will ultimately connect at least 20 districts, and goods will reach there, thereby reducing the travelling time. This will reduce the logistic cost and it will make Maharashtra part of a global supply chain,' he added. He said the government has created a new ecosystem in Amravati for the textile sector, while Chhatrapati Samhajinagar is a new industrial magnet, and soon it will be the EV capital of India. Further, he added that Nashik is a new magnet for the defence sector. 'The government is creating new defence corridors in Nashik and around Ahilyanagar, Sambhajinaar and near Nagpur. Defence and aerospace will be promoted in Nashik, which will be the best investment destination for this sector,' he added. 'Pune has been our industrial magnet, and while in Navi Mumbai and Raigad, the government is creating a new ecosystem for GCCs, advanced manufacturing, green technologies, and innovation. It is putting Maharashtra at the helm of innovation. With our new airport in Pune and Pune ring road, the government aspires to create an entirely new business and industry, logistic ecosystem in Pune, which will double the GDP of the district and help the state to grow its GDP,' commented the Chief Minister. In his address, Deputy Chief Minister Eknath Shinde said the government has been adopting new policies to further increase investments in the state as it does not want to be stagnant and complacent. Industry Minister Uday Samant said that the government is pushing industrial development in various districts, and its efforts are yielding positive results. Industry secretary P Anbalagan said, 'Our objective is to create an even more competitive and attractive environment for both domestic and international investors, ensuring Maharashtra remains at the forefront of industrial development.'
Khaleej Times
04-03-2025
- Business
- Khaleej Times
Transcontinental ‘silk road' project gains traction
In a bold move to reshape global trade maps, the $20 billion India-Middle East-Europe Economic Corridor (IMEEC) is bouncing back to life after months of delay due to geopolitical turbulence. Dubbed the 'New Silk Road,' this transcontinental network — envisioned to link Mumbai to Marseille via the Middle East — has reignited momentum as key stakeholders, including India, the UAE, US, and EU, pledge to fast-track its realisation. Launched at the 2023 G20 Summit in New Delhi, the IMEEC promised to revolutionise connectivity between Asia, the Middle East, and Europe through rail, ports, energy grids, and digital highways. Yet progress stalled as the Gaza conflict redirected regional focus. Now, with high-level diplomacy and technological innovation driving renewed urgency, the corridor is back on track. 'The IMEEC is not just infrastructure; it is a bridge to a multipolar world,' said a senior Indian diplomat, reflecting on recent breakthroughs. During Prime Minister Narendra Modi's US visit in February 2025, talks with President Donald Trump solidified commitments to 'accelerate tangible collaboration' and convene IMEEC partners within six months. A joint statement emphasised the corridor's role in 'future-proofing supply chains' and advancing regional security—a nod to its strategic value amid Red Sea disruptions and Suez Canal vulnerabilities. While physical infrastructure remains critical, the corridor's digital spine is already taking shape. During Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed's visit to India in September 2024, the two nations unveiled MAITRI (Master Application for International Trade and Regulatory Interface), a unified digital platform designed to eliminate bureaucratic bottlenecks. For businesses, the implications are vast. The corridor could slash India-Europe transit times by 40 per cent, save 30 per cent in costs, and cut carbon emissions by 22 per cent compared to traditional routes. 'This is about rewriting the rules of globalization,' said a Dubai-based logistics CEO. 'The ones who adapt fastest will win.' 'As the IMEEC moves from boardrooms to breaking earth, it embodies a world where trade is both an economic lifeline and a strategic tool. For billions across three continents, the promise is clear: faster, cleaner, and more resilient connections in an age of disruption,' said Faizal Kottikollon, chairman of UAE-India Business Council-UAE Chapter. A statement from Indian embassy in Abu Dhabi said MAITRI integrates India's National Logistics Portal and Customs Gateway with UAE systems, creating a 'single window' for real-time data exchange. Think of it as a digital highway where cargo manifests, tariffs, and regulatory approvals flow seamlessly—cutting clearance times from days to hours. The platform also powers a Virtual Trade Corridor (VTC), expected to turbocharge bilateral trade, which already tops $85 billion. Recently, a delegation led by Secretary, Ministry of Ports, Shipping and Waterways, T.K. Ramachandaran held discussions with the CEO of Abu Dhabi Ports, Mohamed Juma Al Shamisi. The delegation included Sunjay Sudhir, Ambassador of India to UAE, and senior officials from India. The IMEEC's blueprint splits the corridor into two arcs: The East Corridor connects India's western ports to the UAE and Saudi Arabia via maritime routes while the North Corridor weaves through Saudi Arabia, Jordan, and Israel into Europe via rail, bypassing the Suez Canal. The UAE-India leg is poised to break ground first, with Abu Dhabi Ports CEO Mohamed Juma Al Shamisi confirming collaboration on smart logistics hubs. Meanwhile, energy ties are deepening: a cross-border electrical grid to transmit solar power and green hydrogen projects are underway, aligning with both nations' net-zero goals. The IMEEC's revival carries unmistakable geopolitical undertones. As China's Belt and Road Initiative ((BRI) faces scrutiny over debt diplomacy, the IMEEC offers an alternative model emphasizing sustainability and multilateralism. The corridor's focus on green energy and digital innovation has attracted EU backing, with Commission President Ursula von der Leyen calling it 'a template for 21st-century partnerships' after February 2025 talks with Modi. Yet challenges linger. Regional tensions, funding complexities, and coordinating 12+ nations demand deft diplomacy. Critics also question whether the corridor can truly offset Suez dependence, given its reliance on Middle Eastern stability. With a partner review meeting slated for mid-2025, stakeholders are racing to finalize financing and break ground on priority segments. The UAE-India digital and energy links serve as a proving ground, while Europe eyes rail upgrades to absorb incoming Asian trade.
Times of Oman
04-03-2025
- Business
- Times of Oman
India, UAE hold talks on India-Middle East-Europe Economic Corridor
Abu Dhabi : A new impetus has been imparted today to the ambitious Transcontinental Connectivity Project - India-Middle East-Europe Economic Corridor (IMEEC) launched during the G-20 Summit held in Delhi in September 2023 with signatories including India, UAE, USA, EU, Saudi Arabia, France, Italy, and Germany, a statement by the Indian Embassy in Abu Dhabi stated. The delegation conducted discussions on stakeholders, including those of shipping lines. "A delegation led by Secretary, Ministry of Ports, Shipping and Waterways, Shri TK Ramachandaran held substantive discussions with CEO of Abu Dhabi Ports, HE Mohamed Juma Al Shamisi. The delegation included Ambassador of India to UAE, HE Sunjay Sudhir, CMD, RITES Ltd Sh Rahul Mithal and Chairman, Jawaharlal Nehru Port Authority (JNPA) Sh Unmesh Wagh. Prior to the meeting, an interactive discussions was held with stakeholders, including Terminal Operators, Shipping Lines and Customs. A presentation was also made in this regard," the statement read. The discussions also revolved around Master Application for International Trade and Regulatory Interface, which was launched during Dubai Crown Prince's visit to India. "Earlier, Master Application for International Trade and Regulatory Interface (MAITRI), was launched during the visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to India in September 2024. MAITRI is a platform which will integrate existing trade portals including National Logistics Portal- Marine (NLP-M), Indian Customs Electronic Gateway (ICEGATE), Unified Logistics Interface Platform (ULIP) with similar portals on the UAE side providing seamless and paperless connectivity," the statement read. "MAITRI will also support the Virtual Trade Corridor (VTC) which was also launched during the visit of His Highness Sheikh Khaled. VTC will not only be an integral part of IMEEC but will also help bilateral trade between India and the UAE which stands at over USD 85 billion," the statement added. Considerable work has already happened on MAITRI platform with Ministry of Ports, Shipping and Waterways (MoPS&W) of India assigning the work of developing the platform to RITES and C-DAC, who are working closely with JNPA, Deendayal Port and other major ports of India. A workshop in this regard was held in Mumbai on 27th February with the participation of Hon'ble Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal. The workshop also saw participation from Abu Dhabi Ports and DP World and other important stakeholders from the UAE side, the statement read. IMEEC signatories represent a large part of global GDP. IMEEC will provide an alternate supply route connecting India, Europe and the USA through countries of the Middle East. In addition to port and rail infrastructure, IMEEC is also envisaged to provide energy and digital connectivity. The work of laying the electrical grid between UAE and India for solar power is also underway. The two countries are also working on green hydrogen and public digital infrastructure, as per the statement. "A new impetus to IMEEC & India-UAE Virtual Trade Corridor! A delegation led by Secy of Ministry of Ports, Shipping and Waterways, T K Ramachandran held discussions with H.E. Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports on VTC and Master Application for International Trade and Regulatory Interface (MAITRI)."
