Mumbai: A week after taking over the reins of the state, chief minister Devendra Fadnavis embarked on a new mission, ‘Invest Maharashtra‘, to attract domestic and foreign direct investment and ensure that the state remains a favoured destination for investors.
As per a circular issued by development commissioner Deependra Singh Khushwah, it has been proposed to set up a country desk to help investors make decisions on their proposals and current world trends. “New investment policy should be in accordance with world trends and regional opportunities, and there should be effective coordination between the govt and leading industrialist houses,” says the circular.
On govt and dialogue with investors, the circular states that the main task before the govt will be to initiate dialogue with potential investors and ensure that the govt remains with them throughout the entire journey, extending complete support.
Secondly, it involves signing MoUs with investors, following up with them, and assisting them in the entire investment process, ensuring effective implementation of MoUs, and enhancing the speed of investment. It also aims to create awareness among investors and facilitate their participation.
Regarding the promotion of investment, the circular mentions that opportunities should be created for investors at international, national, and state-level events, as well as in conferences. It suggests organising roadshows at the district, state, and international levels in collaboration with the MIDC. To facilitate business, state govt policies and practices should be brought to the notice of investors.
On external support, the circular highlights the need for dialogue for the promotion of investment and development with govt, multistate organisations, development banks, and trade organisations. Additionally, more coordination with embassies and high commissions, trade organisations, and ministries of other countries is necessary. “More steps will have to be taken for the development of thrust sectors, such as electronics, textiles, automobiles, and pharmaceuticals,” it states.
Regarding diaspora and networking, the circular emphasises that priority should be given to the Marathi diaspora, appealing to them to invest in Maharashtra and encouraging their participation in the development of Maharashtra. Furthermore, there is a need for the creation of a buyer-seller forum, locating partners for local traders and international partners.
Above all, the emphasis will be on drafting new policies for specific areas, drafting a new policy for thrust sectors, and ensuring Maharashtra becomes a destination for the best investment and promotion of the industrial sector.
