Reforms implemented by the state include simplification in procedures and regulations, reduction in documentations and lowering of transaction costs, the report said.
These measures have "significantly helped in the reduction in time and cost of doing business for the industry, thereby establishing Maharashtra as one of the top investment destinations in the country", CII Director General Chandrajit Banerjee said.
He added that industry members have started reaping the benefits of these reforms in form of reduction in time and money costs of doing business.
As per the latest ranking of states in terms of ease of doing business, Maharashtra ranked at 10th position. The ranking is prepared by the commerce and industry ministry. The next ranking index is expected to be released soon.
Quoting R Mukundan, MD & CEO, Tata Chemicals, the report said :"Environmental compliances have been significantly simplified with the introduction of risk-based parameters and technological advancements in the processes.
Sanjay Kirloskar, Chairman & MD, Kirloskar Brothers Ltd said that starting a business in Maharashtra is becoming much easier, which has resulted in mushrooming of new generation of entrepreneurs in the state.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)