Chief Minister Shri Uddhav Thackeray’s Magnetic Maharashtra 2.0 is attracting global focus to the West Indian state and boosting state’s investment competitiveness… A special report by Asian Lite Newsdesk
Maharashtra Industrial Development Corporation (MIDC) is Government of Maharashtra’s nodal investment promotion agency. The corporation is not only the India’s largest Industrial development authority but one of South East Asia’s most competent Investment Promotion Agency. Over the last 5 decades, MIDC has enabled the state to achieve an undisputed leadership position with regards to investments and industries.
It was set up in the year 1962 by the special act of the state government with the mandate to achieve balanced industrial development in Maharashtra. It is the special planning body which operates through a vast network of local offices. It acts as an important link between investors and the government being the single point of contact for all investor relations. MIDC administers the investment lifecycle in the state from outreach to aftercare and is responsible for providing essential infrastructure to businesses like land, power, water and more.
Dr.P.Anbalagan, IAS, CEO, MIDC: “As the world is advancing, we are attempting to recognize and fulfil the needs of our investors in terms of world-class infrastructure at MIDC. By maintaining a team of capable individuals, who are constantly pushing the frontiers of industry and modern facilities, we ensure a futuristic approach that keeps up with the changing dynamics of the business world. It is our target to stay one step ahead of the expectations of our investors and ensure them the best arrangement in terms of business ecosystem in the country. ”
In June 2020, Chief Minister Shri Uddhav Thackeray unveiled Magnetic Maharashtra 2.0; the state’s investment and growth stimulus strategy. Initiatives under this strategy enhanced the state’s policy framework and overall investment sentiment. With focus on economic recovery, the strategy features some of the boldest and most impactful investment reforms. Key Interventions proposed under Magnetic Maharashtra 2.0 to boost state’s investment competitiveness.
Capacity Augmentation of MIDC Land Bank
MIDC manages 289 industrial parks built over 2.25 lakh acres of land across the state. It is geared to further acquire additional 40,000 acres of land for companies looking to invest in Maharashtra.
The acquisition is targeted in the regions viz. Pune-Chakan-Talegaon-Satara belt, Mumbai-Thane-Raigad belt, Aurangabad-Jalna region, Nagpur-Amravati belt and Nashik-Ahmednagar region.
Plug and Play Infrastructure
MIDC will offer a ready-to-move-in factories complete with advanced utilities, and affordable pricing structure to be made available with sectoral tailoring. It will host a diverse base of entrepreneurs, local suppliers and anchor units.
Industrial Shed Spaces will be provided on a rental basis to enable quick setting up of Industries without a major cashflow impact to the investor.
This helps a new investor immediately start operations from day one while offsetting the company’s risk appetite and liquidity crunch especially in a post-COVID scenario
The Government of Maharashtra has unveiled a mega single permission system to fast track industrial permissions as quickly as 48 hours.
This will facilitate investors to get all the permissions through a single-window clearance system and enable industries and their operations to start instantly.
All FDI and Investment Proposals exceeding INR. 50 Crore that are environmentally sustainable will be processed on priority to immediately start construction and production.
Designed by the state to act as an Industry employment bureau. Maha Jobs will have a dual impact – It will help industries meet the talent shortfall that they face the recent with ready access to unskilled, semi-skilled and skilled talent. In parallel, it will also allow youth of the state to list his/her skillsets on the portal across 17 sectors and 950+ job roles. Currently it hosts 2.94 lakhs applications and 2731 registered employers. This matchmaking of talent with industry will help the state achieve an optimal mix of utilization and boost manufacturing productivity.
Investor First Programme
Relationship Managers (RM) and Relationship Executives (RE) have be assigned to all the companies investing above INR 50 crore. RMs & REs will be responsible for overall co-ordination and providing necessary support to the Investors on continuous basis.
Dedicated Country Desks
Maharashtra houses large and small businesses as well as MNCs from several countries. In order to boost its bilateral ties and to provide dedicated handholding to investors and industry associations of partner countries, the state has setup country desks for each of its priority partners with the aim of providing extended support and facilitation.
Investment Intentions Signed
Under the leadership of the Hon’ble Chief Minister and Hon’ble Minister Industries, the Industries department along with MIDC signed 29 MOUs with key investors in the months of June 2020 and November 2020. The engagements saw participations from national and global business leaders who reinforced their confidence in the state. MoUs worth over Rs 51,000 crore were signed with business partners from USA, UK, Japan, Singapore, South Korea and Spain across various traditional and novel sectors.
Also Read: Advantage Maharashtra