Latest news with #MaharashtraIndustry
Hindustan Times
10-08-2025
- 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.
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.
