Maharashtra woos overseas investments

Maharashtra woos overseas investments
Maharashtra woos overseas investments

The Maharashtra government, in its push to attract foreign investments and boost the defence sector, has decided to allocate land to manufacturers keen on investing in the state in partnership with Indian companies. Industries Minister Subhash Desai said: "Foreign investors are eager to invest in various sectors in the state after being convinced of the change in culture and ease of doing business.” Chief Minister Devendra Fadnavis, along with Desai, had recently visited Hanover in Germany to woo foreign investors. Desai added: "Some major foreign companies have approached us and are eager to invest in the defence sector. They have the technology and we have the resources. These companies are expected to visit Maharashtra in the coming days and we have even thought about the sites we will offer them.” To start with, he said, joint ventures (JVs) will be formed with prominent Indian engineering companies. "There is a possibility that these companies may manufacture parts of combat aircraft and parts of submarine or warships in Maharashtra.” The state has the option of providing land at Ozar in Nashik district, Amravati and Aurangabad for these JVs. He said: "The manufacturing companies will need the facility of an airport strip which is available at these places and the MIDC, too, has a huge land bank of 48,000 acres.”

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