Leading private equity firms KKR, Blackstone, Bain Capital and Warburg Pincus on Tuesday committed to increase their investments in Maharashtra. Together 30% of their portfolio is in Maharashtra which comes to about Rs 100,000 crore and they are proposed to invest another 5% (around Rs 17,000crore) post Covid 19 crisis.
This was revealed by these PE firms at the maiden video conference chaired by the Chief Minister Uddhav Thackeray.
A senior Government Officer told FPJ,’’ These four are among the top 10 PE firms globally. They reiterated their commitment to increase their investment in the state especially post Covid 19.
These firms also said if the state government comes out with a policy on the disposal of stress and sick assets they will like to invest.’’ The officer said these firms suggested that Maharashtra, which has been the most favoured investment destination, will have to match with competition from various other states and also from countries like Vietnam and Philippines.
The PE firms also suggested the state government to create pharma and electronic parks in Maharashtra to attract investments from China post Covid 19. Thackeray assured PE firms more and more investor friendly decisions by the state government.
He informed that the state government has firmed up plans to promote green industries and said the permissions will be granted through a single window so that the investor can start the production. Industry Minister Subhash Desai said the government has already reduced the number of various permissions to 25 from 76 and it has taken a decision to set up pharma and electronic parks.
KKR India Partner and CEO Sanjay Nayar, Blackstone senior MD Amit Dixit, Bain Capital CMD Amit Chandra and Warburg Pincus MD and Head of India Vishal Mahadevia participated at today’s virtual meeting. Chief Secretary Ajoy Mehta, CM’s additional chief secretary Ashish Singh and Maharashtra Industrial Development Corporation CEO Dr P Anbalagan also took part.
