Maharashtra leads in investments at Rs 9,55,329 crore

State maintains leadership in industrial sector

Maharashtra government has downplayed investment being attracted by competitive states such as Gujarat, Odisha, Tamil Nadu and Madhya Pradesh. Instead, Maharashtra's Economic Survey 2012-13 tabled today in the state legislature said the state has maintained leadership position in the industrial sector in India.

Maharashtra has attracted highest number of proposals having maximum employment potential. During August 1991 and November 2012, in all 17,866 industrial proposals with an investment of Rs 9,55,329 crore were approved. Of these projects, 7,706 projects (43.1%) with an investment of Rs 1,78, 83 crore (18.6%) were commissioned generating 9.5 lakh employment while 2,057 projects with an investment of Rs 78,804 crore and proposed employment of 2.9 lakh are under execution. Of the total proposals received in the country, Maharashtra's share in the industrial proposals is 18%, 10% in investment and 20% in employment.

Furthermore, Maharashtra has received in all 4,246 projects through foreign direct investment (FDI) during August 1991 and March 2012 amounting to Rs 97,799 crore. Of these projects 45% were commissioned  with a share of investment of 51% and 10% under execution with a share of investment of 8%. During 2011-12 in all 105 FDI projects with an investment of Rs 5,454 crore were approved. The United States of America and Mauritius are the two prominent countries investing in industrialsector with 14% and 13% share respectively in total FDI.

As far as special economic zones (SEZs) are concerned, the state has received 234 proposals upto November 2012. Of these projects, 124 SEZs were approved by the Centre and 64 of them are notified. As on December 31, 2012, about 17 SEZs were executed with total investment of Rs 10,836 crore on 2,421 hectare which generated employment of about 8.50 lakh.

However, the New Industrial Policy announced in January has proposed conversion of SEZs into integrated industrial area where it will be mandatory for the developer to use 60% land for industrial purpose and only after that the developer will be allowed to use the balance 30% for residential and 10% for commercial purposes.