Maha to conduct roadshows from Nov to woo investors looking to relocate from China

Maharashtra will be embarking on roadshows abroad from November this year to attract investments into the state in the post-COVID 19 pandemic world, a senior official has said.

The state, which claims to be among the most industrialised ones in the country, will be specifically targeting investments from global companies looking to relocate outside of China, Maharashtra's Development Commissioner for Industries, Harshdeep Kamble said at a seminar at the World Trade Centre here.

Maharashtra, which has ambitions to more than double the GSDP to USD 1 trillion by 2025, will be targeting to get companies from the automobiles, steel, textiles, agro processing and pharma sectors to invest in the state as part of the strategy, Kamble said, as per a press statement issued by the organisers of the event.

Government of Maharashtra is working on special package to attract MNCs looking to relocate from China..The state government will conduct roadshows and market the state in different countries by November 2020 to attract investment, Kamble was quoted as saying.

Kamble said Chinese auto major Great Wall Motors has decided to go ahead with its investment in an electric vehicle facility and battery production unit at Pune despite the COVID-19 pandemic.

The official said as part of the incentives offered under the state's industrial policy, a company can recover up to 100 per cent of their fixed investments.

He said India will have to look at the manufacturing sector more seriously and exuded confidence that companies in the sector will choose his state to invest.

Without specifying the dates, the press release quoted Kamble as saying that 6,500 units in Maharashtra have started operation in recent days and 4,000 units have applied for resuming operations.

It can be noted that as part of the exit plan mooted by the Centre, industrial units in non-hotspot areas have been allowed to function from April 20.