Maharashtra to fast track industrial approvals to 24 hrs from 6 months

Many companies are backing out from China (after coronavirus outbreak) and we are closely watching the developments, industries minister said

Maharashtra governement plans to fast track industrial permissions to 24 hours from 6 months at present as it seeks to attract foreign investors.
 

"Many companies are backing out from China (after coronavirus outbreak) and we are closely watching the developments. The state government has decided to grant single 'Maha permits' to simplify the process of setting up industrial units," Maharashtra industries minister Subhash Desai said on Wednesday. He added that investors from US, Europe and Korea are in discussions to set up plants in the state.

"Companies seeking to set up industries in the state require approvals in two stages - before construction of the plant and then before commencement. The Maharashtra government scheme will speed up approvals in pre-construction stage and will apply to nearly 80 per cent of industries," Maharashtra Industrial Development Corporation CEO P Anbalagan said.