Subhash Desai
Subhash Desai
@Subhash_Desai (twitter)

Mumbai: After recent flip flops over allowing Chinese investments in the state, the Maharashtra Cabinet on Thursday cleared a slew of investor-friendly measures to attract more investments post COVID-19 especially from China, US, UK, South Korea, Taiwan and Germany. These proposals were to match other competing states and also countries like Vietnam and Philippines in attracting investments and thereby maintain Maharashtra’s pre-eminent position. The government has appointed senior IAS officer Bhushan Gagrani to coordinate with investors, consultants, trade and industry bodies, consulates and high commissions and thereby attract domestic and foreign direct investments in the state.

The government will put in place automatic and accelerated permission mechanisms to make the process hassle free and without procedural delays. The government will issue Master License (Maha Parvana) through a single window system in 48 hours to investors with investment intention of Rs 50 crore and plus. The proposed investments however, will have to be in those in the green and saffron category identified by the Maharashtra Pollution Control Board.

Industry Minister Subhash Desai told FPJ, "All investments will be routed through a green channel so that Maharashtra continues to the favoured destination globally.’’

Further, the government has proposed the plug and play infrastructure policy so that investors, who are struggling to cope up with the COVID-19 crisis, can pursue investment with minimum capital and risk. The state-run Maharashtra Industrial Development Corporation, which has already earmarked 40,000 acre of land, will make available plot on lease rent with all amenities including a shed where the investor can install the machinery and start production in the shortest possible time. Another proposal is MIDC will allocate space in the building on a long term rental basis.

MIDC will make available plots for the construction of hostels for a company employing 1,000 plus workers.

IMC Chamber of Commerce and Industry President Ashish Vaid said that Maharashtra should lead the way in opening up to welcome foreign manufacturers and also local entrepreneurs to set up industry and make it easy and seamless. ‘’Maharashtra can at least add another $500 billion so that it can be a $1 trillion economy,’’ he noted.

In order to address the availability of workers especially in the wake of migration of large numbers of workers to their home states during COVID-19 crisis, the MIDC will set up Industrial Work Force Facilitation Portal. Furthermore, MIDC will also create a special portal for unified search to seek key information from the investors and also provide all policies to go to the investors. MIDC will appoint a relationship manager for every investor who will address investors’ grievances and help them commission projects in a time bound manner.

Free Press Journal