Chavan eyes Chinese investments in state, to host Li

Will hold exclusive interaction with Premier Li Keqiang ahead of business summit

Amidst competition from various states to lure investors, Maharashtra Chief Minister Prithviraj Chavan will meet visiting Chinese Premier Li Keqiang today evening.

The timing of today’s meeting is crucial considering the state government recently rolled out a new industrial policy laying focus on promotion of investments in the micro, small and medium enterprises apart from infrastructure, IT, automobile, manufacturing and tourism.

Besides, the state government has proposed investment of over Rs 60,000 crore alone in Mumbai to upgrade transport infrastructure.

Furthermore, Chinese auto major Deigue Foton has already proposed an investment of Rs 1,600 crore for the production of utility vehicles near Pune. Haier India, the domestic unit of Hong Kong-listed Haier Electronics that makes washing machines and other consumer electronics, has also announced its plans to use its Pune facility to the maximum.

A senior government official told Business Standard, “Chief Minister will appeal to the Chinese Premier for investments by Chinese companies in Maharashtra, which has attracted 37% of the total FDI in the country since 1991."

Maharashtra ranks first both in terms of number of industrial entrepreneurial memoranda (IEMs) implemented and number of employees. Maharashtra ranks first in total number of IEMs filed (15852) followed by Gujarat (10197), for the 2 decades 1991-2011, he said.

The official clarified that the investments will be encouraged within the ambit of the Indo-China relationship.