Maharashtra clears new industrial policy

With an aim to attract Rs 5 lakh crore in investments over the next five years and provide jobs to two million people in the State, the Maharashtra government unveiled its new industrial policy on Thursday.
Stressing on the manufacturing sector, the policy has set a goal of achieving 12-13 per cent growth rate a year and a 28 per cent share in the State’s GDP. It further wants to accelerate industrial development in the underdeveloped regions in Maharashtra.
The state government has proposed integrated industrial areas (IIA) to ensure all-round industrial development and boost the “walk to work” concept. According to the new policy, the companies who have acquired land for SEZs directly from the central government, may get it de-notified and then apply to the state government for the IIAs.
The other highlights include a 1,000 MW gas-based power plant and multi-modal logistics park in the Talegaon area on the outskirts of Pune, as part of the state government’s initiatives under the Delhi-Mumbai Industrial Corridor (DMIC).
The Confederation of Indian Industry (CII), India’s premier industry association, has welcomed the announcement. According to CII, “Industry has been eagerly awaiting the new policy since the last five-year industrial policy was announced in November 2006. Unlike the previous policy that aimed to attract investment from big industrial houses, it is heartening to note that the new policy targets micro, small and medium
(MSME) firms and aims at an investment of Rs 5 lakh crore and employment generation for 20 lakh people.”

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