)
The Maharashtra government has signed a Memorandum of Understanding (MoU) with the government of Wenzhou Province, China, on Thursday to promote trade and industry between two states.
With the signing of the MoU, Wenzhou will help Maharashtra with latest technology and machinery.
The MoU was signed by Prakash Mehta, Maharashtra industry ministry, and Zhao Dianlin, deputy secretary-general of Wenzhou, at the National Exhibition Centre (NEC), Goregaon.
"The Maharashtra government has received fresh investment proposals worth Rs 1,00,000 crore within last one month or so. The proposals are under consideration and will be cleared soon by the state government," Mehta said.
The new Bharatiya Janata Party (BJP) government, led by Chief Minister Devendra Fadnavis, will soon adopt the concept of single window system for various clearances required for setting up projects. The state government will also reduce number of licenses required to 20, Mehta said.
Bilateral trade between India and China have gone up by 8.8 per cent to $52.8 billion till September 2014.
