'Maharashtra has great business potential'

Anand Mahindra, the chairperson of Mahindra group, on Sunday said that the state of Maharastra has great business potential, however, if it's growth is mismanaged, it could dissuade investors.

While addressing the 'Magnetic Maharashtra' Global Investors Summit here, Anand Mahindra said that Maharashtra has a 'brahmastra' and Mumbai is a 'crowned jewel'.

"This state has a 'brahmastra'. Mumbai is most exciting and commercially robust city in the country. It's a jewel in your crown.But it's a double-edged sword.If the city begins to drown under its weight and mismanage its growth, then it may just as well turn away investors in the world," he said.

"Just like a magnet has two poles, Maharashtra has two poles - one is its rural power and the other in Mumbai. I am proud to be a part of CM's 1000 village initiative, where NGOs, governments, corporates have joined hands to turn Maharashtra's 1000 poor villages into model villages," added Mahindra.

He further noted that the company will invest another Rs 500 crore in the state under the new electric vehicle policy.

The chairperson of Mahindra also said that their company will invest Rs 1,700 crore for the Indian entertainment industry that will create jobs.

"We are exploring the creation of a unique film-centric entertainment destination on our land in Kandivali with an investment of Rs 1,700 crore. With Indian cinema being an international magnet, I am sure this will help attract more tourists and create hundreds of direct and indirect jobs," he continued.