 "Maharashtra to fast track industrial approvals to 24 hrs from 6 months")
Maharashtra governement plans to fast track industrial permissions to 24 hours from 6 months at present as it seeks to attract foreign investors.
"Many companies are backing out from China (after coronavirus outbreak) and we are closely watching the developments. The state government has decided to grant single 'Maha permits' to simplify the process of setting up industrial units," Maharashtra industries minister Subhash Desai said on Wednesday. He added that investors from US, Europe and Korea are in discussions to set up plants in the state.
"Companies seeking to set up industries in the state require approvals in two stages - before construction of the plant and then before commencement. The Maharashtra government scheme will speed up approvals in pre-construction stage and will apply to nearly 80 per cent of industries," Maharashtra Industrial Development Corporation CEO P Anbalagan said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%