23 June , 2020 Fdiindia
Maharashtra Government Approves FDI Industrial Investment of INR 50 Crore
In the times of COVID-19, the Maharashtra government has recently approved the proposal of rendering automatic, accelerated permission of FDI and industrial investments amounting to INR 50 crores and more.
FDI Investments have been on a rise in India and it has brought advancements in various sectors in the country.
The automatic, accelerated permission to FDI and industrial investment plans of Maharashtra government got approved in the cabinet meeting that was organized.
The statement that was released from the Chief Ministers Office (CMO) had said that now the industrial units that are eligible are going to be provided with the permits in just 48 hours to start with the production. The applications for this will be submitted online.
Plug and play infrastructure will be provided to the new and the earlier industrial investors which will be resulting in a reduction of the ongoing risk during the pandemic.
This plug and play have been conceptualized by MIDC. In this concept the investors will be getting the technology and infrastructure at the affordable rates.
The infrastructure that will be required will be allotted on lease and for this MIDC (Maharashtra Industrial Development Corp) is making 40,000 acres of land available for this.
FDI in Maharashtra will be increasing the number of job opportunities in the state and this comes as good news for the people as many are facing employment issues in the tough time of COVID-19.
MIDC has also announced that it will be providing accommodation and hostels facility on the premises only for the companies which have over 1000 workers. This is a very positive step to provide accommodation to the workforce and this will also make the working easy.
MIDC will be establishing an industrial workforce facilitation portal that will be provided with information on job opportunities that the locals can apply for in different sectors.
In making things easy for the investors a unified search portal will also be developed for making the important information available to the investors.
All required steps are being taken by the Maharashtra government to support and make things easy for industrial establishments in the state in the ongoing time of the pandemic.
The state also has further planned to expand the FDI in Maharashtra and it will be doing so in the coming times.