Pune, Oct 14: Maharashtra Chief Minister Devendra Fadnavis on Wednesday invited South Korean companies to set up manufacturing facilities in the state, assuring them of a seamless investment process and support through a single-window mechanism.
Speaking at the inauguration of Hyundai Motor India's manufacturing facility in Talegaon near Pune, Fadnavis said Maharashtra had developed a strong industrial ecosystem and was ready to facilitate further investments by Korean companies across sectors.
"Bring all the Korean industries to Maharashtra. We will create a seamless process for their footprint and facilitate them through a single window," he said, addressing South Korean Ambassador Lee Seong-ho and other dignitaries at the event.
Single-window clearance for Korean investors
Fadnavis said the state government had established the 'Invest Maharashtra' platform to streamline investment-related processes and ensure that companies did not have to approach multiple departments to obtain clearances and other assistance.
"Nobody has to go from pillar to post. Just go to 'Invest Maharashtra', tell them what you require, and everything will be done at a single window," he said.
Congratulating Hyundai on completing 30 years in India, the chief minister welcomed the company's entry into Maharashtra and said its Talegaon facility would strengthen the state's automobile manufacturing ecosystem.
Hyundai raises investment and production targets
He said Hyundai initially planned to invest Rs 7,000 crore in the facility but later increased the proposed investment to Rs 11,000 crore. The plant's planned production capacity had also been raised from 1.7 lakh vehicles to 3.2 lakh vehicles, he added.
Fadnavis said the company's presence would generate opportunities for local ancillary industries and small and medium enterprises (SMEs).
He noted that around 50 per cent of Hyundai's component sourcing was taking place within a 50-km radius of the facility, creating a local supplier base.
Fadnavis added that the company was looking to increase indigenous sourcing in India from the current 80 per cent to 90 per cent.
"I could foresee a day when 100 per cent component sourcing and 100 per cent manufacturing will be in India, and in India, it will be in Maharashtra," he said.
Maharashtra's automobile manufacturing strength
Highlighting Maharashtra's contribution to the automobile industry, Fadnavis said the state accounted for 23 per cent of India's automobile manufacturing and 27 per cent of its automobile exports.
He said technological advancements, automation and Industry 4.0 were reshaping automobile manufacturing, pointing to the 250 robots deployed at Hyundai's Talegaon facility.
Driverless cars should be last priority
Fadnavis said driverless cars should be the last priority for India, given the country's huge pool of drivers, while welcoming automation and technological advancements in the automobile industry.
He said driverless cars could be beneficial in countries with ageing populations and a shortage of young workers, but India had a large workforce of drivers.
"Cars without drivers should be your last priority, but other than that, the entire automation is most welcome," he said.
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Employment opportunities and future expansion
Despite increasing automation, the automobile sector continued to generate substantial employment, Fadnavis said, adding that Hyundai's vendors had created around 18,000 employment opportunities.
He also highlighted the longstanding partnership between India and South Korea, particularly in technology and infrastructure, and said the state valued the presence of Korean companies.
Expressing confidence in Hyundai's future in India, he said the company could expand its production capacity further in the coming years.
"Design in Pune, manufacture in Pune and supply to the entire world should be your motto in Pune," the chief minister said.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
