Given that several states are trying hard to woo investors, the Maharashtra government will have to try hard to sell the state, as chief minister Prithviraj Chavan is slated to visit London and Davos from January 24.
Chavan is heading a high-level delegation to attend the World Economic Forum’s annual event at the Swiss ski resort city. This was confirmed by the chief minister’s office and by industry secretary K Shivaji.
Chavan would take time off to visit Davos, amid busily finalising Congress party’s political strategy for the elections to the 27 zilla parishads on February 7, and to 10 municipal corporations on February 16.
Shivaji said a detailed programme is being finalised for the chief minister’s visit to Switzerland. “Chavan will address the representatives of various countries and investors with a strong plea to invest in Maharashtra,” he told Business Standard. In November last year, it was in Mumbai that the World Economic Forum held its regional meet.
Chavan’s visit comes at a time when Maharashtra was facing stiff competition from several states that are vying each other to attract investments. Even when Maharashtra succeeded in attracting an investment of Rs 1 lakh-crore since April last year till date, it lost big-ticket investments — including Maruti and Peugeot — to neighbouring Gujarat. Even smaller states such as Chhattisgarh and Uttrakhand besides Orissa are giving a run to Maharashtra.a.
Chavan’s proposed visit, thus, gains importance. For, the state government is in the midst of formulating an industrial and investment policy. In fact, the government was originally slated to release it during the recent winter session that ended on December 23, but failed to do it.
That has prompted it to now put the new policy in the public domain before the budget session. A state government official said the government proposes to make the investment process hassle-free, transparent and investor-friendly.
A single-window clearance system is being proposed, apart from attracting investments especially in the less developed districts by upgrading their infrastructure.
The official informed that nearly $60 billion worth investment would be required to strengthen infrastructure in in the state capital and the Mumbai Metropolitan Region. Besides, an investment of more than Rs 60,000 crore was under way to increase the power-generation capacity and improve transmission and distribution sectors.
The government also plans to invite investors in renewable energy sources, mining, tourism and port development.
According to government data, the state’s per capita income at current prices at the end of 2009-10 stood at Rs 74,027 as against the national average of Rs 52,421. Piquantly, though, the per capita income of at least 12 of the total 33 districts was only Rs 40,000.
