Latest news with #MaharashtraElectronicsPolicy2016
Hans India
30-05-2025
- Business
- Hans India
Maharashtra attracts 40 per cent of country's total investment in 2024-25
Maharashtra, under the Mahayuti government, has consolidated its position as India's investment magnet by attracting foreign investment worth Rs 1,64,875 crore in 2024-25, which accounts for 40 per cent of the total investment received by the country this year. According to the state government, Maharashtra continues to be the most favoured investment destination due to a business-friendly environment, dedicated sectoral facilities and availability of the highest employable workforce (70 per cent). Chief Minister Devendra Fadnavis said, "I am extremely delighted to share that the figures for the last quarter (January to March 2025) of the financial year 2024-25 have now been released, and for the entire year, Maharashtra has attracted foreign investment worth Rs 1,64,875 crore. This accounts for 40 per cent of the total investment received by the country this year. The total investment in the country this year amounts to Rs 4,21,929 crore." "Compared to last year, Maharashtra has seen a 32 per cent increase in investment this year. In this final quarter, Maharashtra attracted Rs 25,441 crore in foreign investment. This year has set a record for Maharashtra, surpassing the past 10 years. We had already broken this record in the first nine months. I wholeheartedly congratulate the people of Maharashtra," CM Fadnavis said. Retaining the number one slot has come as a shot in the arm for the Maharashtra government as it has an ambitious target of becoming a $1 trillion economy by 2030 and $5 trillion by 2047. The state economy has already crossed the $500 billion mark. The Industry Department sources said Maharashtra has formulated industry and sector-specific policies and consistently updates its incentives and offerings to align with the evolving global economic dynamics and business scenarios. "Maharashtra continues to lead the way as a top investment destination in India. The Retail Trade Policy 2016, Maharashtra Electronics Policy 2016, Aerospace and Defence Policy 2018, and Industrial Policy 2019 are under the government's active consideration for review to keep pace with the changing investment scenario. In addition, the government proposes to come up with the Circular Economy Policy, MSME Policy, and Leather and Footwear Policy. The state has crossed $500 billion in GDP, surpassing the GDP of several countries like Singapore and Austria, as well as Indian states like Tamil Nadu and Karnataka," the sources added. Further, the government has enacted 'The Maharashtra Industry, Trade and Investment Facilitation Act' on July 3, 2023, to create a strong, healthy and effective ecosystem for industrial development and further boost the investments in the state. The Maharashtra Industry, Trade and Investment Facilitation (MATRI) cell aims to serve as the first point of reference for potential investors coming to the state. Deputy Chief Minister and Finance Minister Ajit Pawar asserted that the record-breaking investment is not merely a matter of rising financial numbers, but proof of the global trust in Maharashtra. "Now, as investment has increased, employment opportunities will also grow, new industries will be established, while further opening up new opportunities," he said.
Time of India
20-05-2025
- Business
- Time of India
Nod for 1L cr projects; will create 93,000 jobs
Mumbai: As many as 325 project proposals, which were pending because various industrial policies governing them had expired, were approved by the cabinet on Tuesday. They are expected to attract investments of over Rs 1 lakh crore and create 93,317 jobs, officials said. Various industrial policies, including Maharashtra Electronics Policy 2016, Maharashtra Space and Defence Sector Production Policy 2018 and Maharashtra New Industrial Policy 2019, had expired. The process of drafting the new policies is underway. After the finance department approved incentives among the proposals, it will be possible to provide subsidies to industry components until the new policies are implemented. Under Maharashtra Electronics Policy 2016, 313 pending proposals were approved, through which an investment of Rs 42,926 crore and 43,242 jobs are expected, officials said. Ten proposals were given the nod under Maharashtra Space and Defence Sector Production Policy 2018, which are likely to bring in investment of Rs 56,730 crore and generate 15,075 jobs. Two proposals, with the potential for Rs 1,000 crore investment and 35,000 jobs, were cleared under Flatbed Industrial Complexes Policy 2018 for readymade garment manufacturing, gems and jewellery, microelectronics and engineering components.
