 "MIDC inks 25 MoUs worth Rs 15,260 crore at Dubai World Expo 2020")
At the ongoing World Expo 2020 being held in Dubai, Maharashtra Industrial Development Corporation (MIDC) signed 25 MoU’s on Saturday with a proposed investment of almost Rs 15,260 crore ($2 billion) under Magnetic Maharashtra 2.0.
With this, Magnetic Maharashtra 2.0 was in its seventh edition and its first international edition.
The memorandum of understanding (MoUs) signed are in key sectors such as auto and auto components, logistics, electric vehicles, textiles, data centre, pharma, bio-fuels and energy, said MIDC in its release.
This proposed investment would have potential direct employment generation for 10,851 people.
Companies looking to invest in Maharashtra are from Japan, Singapore, Sweden, Korea, Germany and Italy, it said.
The Maharashtra government is participating in Dubai expo between November 19, 2021 and 2nd December 2021 and has a delegation led by Minister of Industries, Subhash Desai, joined by other seniors of Industries department between the 19th and 21st of November 2021, said the release.
Maharashtra has seen an increase in its foreign direct investment (FDI) inflow from Rs 2,543 crore in 2004-05 to Rs 79,216 crore in 2019-20 and is a strong contributor to the total FDI flowing into the country.
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%