Maharashtra govt sign MoUs of over Rs 61,000 crore

Maharashtra govt sign MoUs of over Rs 61,000 crore

The 25 MoUs that were signed cover over 15 sectors and has potential to employ of over 2.7 lakh people

Maharashtra CM Uddhav Thackeray. Credit: PTI Photo

Days after the Uddhav Thackeray-led Maha Vikas Aghadi completed one year in office amid difficult circumstances in the wake of the Covid-19 pandemic, the Maharashtra government on Tuesday signed MoUs to the tune of Rs 61,000 crore with potential to employ 2.7 lakh people.

The MoUs were signed as part of the Magnetic Maharashtra 2.0 initiative to bring in investments to the state.

June 2020 saw investment commitments of about Rs 17,000 crore. This was complemented in November 2020 where there was additional investment commitment of approximately Rs 35,000 crore.

In addition, the state attracted investments of about Rs 14,000 crore through organic investments via their advanced single window system in the year 2020.

“The MoUs includes a diverse range of sectors that have been very significant in recent times – pharmaceuticals, healthcare, biotechnology, food processing and FMCG as well as steel & automobiles, engineering and oil & gas among others. This also underlines the state’s positive domestic business sentiment which is in line with vision of a self-reliant India and thereby Maharashtra,” Thackeray said.

According to him, coupled with the state’s robust FDI pipeline of an additional Rs 79,000 crore the state is positioned to surpass its previous targets and cross Rs 2,00,000 crore in formal industrial investment intentions signed by the state. The total potential employment generation from this effort is conservatively estimated at 2.5 lakh people.