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Maha eyes Rs 10 tln from investor summit; Virgin Atlantic's

Press Trust of India  |  Mumbai 

The government is looking to stitch up agreements entailing investments of over Rs 10 trillion from the investor summit next week, a top has said.

founder and Richard Branson will be among the host of business leaders who will be attending the three-day event that will be inaugurated by next Sunday.

"We expect agreements of Rs 10 trillion investments to be signed at across several sectors," additional chief secretary, industries, Sunil Porwal, told today.

The said the government is expecting Rs 3.5 trillion investments into affordable housing, Rs 1.25 trillion into renewable energy projects, Rs 10,000 crore in agriculture and Rs 4,000 crore in tourism.

The rest would be in other sectors like auto, cement, fertilisers and sectors, he added.

A bulk of these agreements will be with private and foreign investors, he said, adding that there will be a couple of investment announcements by state-run enterprises as well.

The state has announced a slew of sector-specific policies in the run-up to the summit beginning next Sunday.

It has received confirmations from 100 business leaders, including global ones like Virgin Atlantic's Branson, who will be attending the summit, Porwal said, adding that domestic industry leaders like and Anand Mahindra will also be there.

The state had aggressively marketed itself as an investment destination at the first 'Make in India' summit held two years ago in the financial capital and secured investment commitments of over Rs 8 lakh crore in it.

Though most of them remain on paper even today, Porwal downplayed this saying some work has already been initiated on projects worth 65 per cent of the headline investment from that summit.

Porwal said the idea behind the is not only to sign agreements, but also to showcase the state's potential for investments in the future and also learn from the best in the world.

When asked about pending investment proposals like the USD 5 billion investment by Taiwanese Foxconn, he admitted that not much ground has been covered.

is in talks to check into the export-oriented special economic zone proposed by JNPT, which will benefit the state, he said, adding that the Taiwanese major already has rented some place in Navi Mumbai.

Asked about the conversion of Reliance Industries' proposed MahaMumbai SEZ's land into an industrial township, Porwal said the state will play the facilitator's role but the project promoters, including Cidco, and Ambani, will have to get investors for it.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, February 11 2018. 12:30 IST