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From Make In India Week: Vidarbha, Marathwada bag 20% of state investments

The Make In India Week was held from February 13 to February 18 in Mumbai, during which the state signed 2,603 memorandums of understanding (MoUs).

Almost 20 per cent of the Rs 8-lakh-crore investments the state bagged during the Make in India Week is for projects in drought-hit backward regions of Vidarbha and Marathwada.

Despite the water crisis in almost all eight districts of Marathwada and parts of Vidarbha, the interest envisaged by industries such as energy, textiles and food processing has presented a new challenge to the state government — of quickly developing infrastructure to avail of the opportunities the investments can bring in.

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A task force led by chief secretary Swadheen Kshatriya has begun a region and sector-wise assessment of how many of the proposals on paper can actually materialise.

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make in india

The Make In India Week was held from February 13 to February 18 in Mumbai, during which the state signed 2,603 memorandums of understanding (MoUs).

According to Chief Minister Devendra Fadnavis, “It was our concerted effort to take investments to backward regions of Marathwada and Vidarbha. To that extent, the interest shown is encouraging, as it will set the momentum for development of industries, agro-sector and textile hubs in these areas.”

The total investments in these two region work out to approximately to Rs 2 lakh crore.

“In Vidarbha, investment amounts to almost Rs 60,000 crore. Big companies such as Sterlite, Raymond and Siyaram Silks have made commitments in sectors ranging from electronics, aircraft manufacturing, textile parks, food processing parks to small and medium scale industries,” an official said.

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While acknowledging that challenges ahead are plenty, specially of providing competitive power tariff and surplus water for commercial use, the government hopes a good monsoon this year would help the agriculture crisis and hence the state exchequer, which is likely to spend nearly Rs 8,000 crore as just relief measures.

According to Bhushan Gagrani, Chief Executive Office of Maharashtra Industrial Development Corporation (MIDC), “Since we had thoroughly vetted most of the investments before signing the MoUs, the percentage of their realisation would be very high.”

Highly placed sources in ministry of energy, industries and housing indicated that big private players who have chosen Maharashtra as the destination are not going to withdraw from the commitment.

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However, a word of caution over the government’s ability to provide the necessary infrastructure to expedite these projects was sounded in some quarters.

The administration believes the investments of Rs 3.45 lakh crore in the Konkan belt, which includes Mumbai and its suburbs, would be fast tracked with available resources, specially in sectors such as Industrial infrastructure and IT parks.Similarly, Pune, which already has an industry-friendly base, can roll out projects worth Rs 42,000 crore, of which major investments are in auto manufacturing.

The overall Rs 8 lakh crore investment, with the projected potential of creating 30 lakh jobs, is expected to bring in development across sectors such as defence, auto and auto components, IT, textile, ports, housing, agriculture, railways, infrastructure and food processing.

First published on: 14-03-2016 at 03:01:01 am
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