 "Proposals worth ₹1 trillion investment get Maharashtra cabinet nod")
The Maharashtra cabinet has approved 325 industrial proposals aimed at attracting investments worth over ₹1 trillion and creating nearly 100,000 job opportunities.
According to an official press release, the approved proposals are expected to bring in investments totalling ₹100,655.96 crore and generate approximately 93,317 jobs.
The government said the proposals had been submitted under now-expired industrial policies, including the Maharashtra Electronics Policy (2016), the Space and Defence Manufacturing Policy (2018), and the Ready-made Garments, Gems and Jewellery, Microelectronics & Engineering Cluster Policy (2018), as well as the Maharashtra Industrial Policy (2019).
These approvals were granted as part of a cabinet meeting held in Mumbai, after several policies lapsed. The state has allowed the projects to proceed under the older frameworks until new policies are introduced.
Key Breakdown of Approvals
Of the 325 total proposals:
313 proposals fall under the 2016 Electronics Policy, with an estimated investment of ₹42,925.96 crore and the potential to generate 43,242 jobs.
10 proposals were submitted under the 2018 Space and Defence Policy, expected to attract ₹56,730 crore in investments and create 15,075 jobs.
The remaining proposals, covering garments, jewellery, and engineering cluster sectors, are expected to bring in ₹1,000 crore and generate approximately 35,000 jobs.
The government clarified that although these policies have expired, the proposals are being processed under the same frameworks until new industrial policies are announced.