MH-State May Create 39 Lakh Jobs

PUBLISH DATE 21st February 2018

The state has signed over 4,100 memorandums of understanding (Mo-Us) worth over Rs 12 lakh crore with private enterprises from around the world during the Magnetic Maharashtra investors’ summit. The state’s initial target was Rs 10 lakh crore.

The state government also signed MoUs with the Centre worth an additional Rs 3 lakh crore, chief minister Devendra Fadnavis said.

These MoUs have the potential to generate employment for nearly 39 lakh people, he added. Of the total Rs 12 lakh crore worth of MoUs, Rs 5.5 lakh crore was in the manufacturing sector, Rs 3.85 lakh crore in the housing sector and Rs 1.6 lakh crore in the power sector.

Fadnavis was chairing the closing ceremony of the summit, which was organised by the state and the industry trade body, CII.

Fadnavis said that one of the highlights of the meet was that several proposals for which the state signed MoUs were for backward regions like Gadchiroli, Nanded, Nandurbar and Hingoli.

The state is also setting up a Rs 1,000-crore fund to promote the defence and aerospace sectors. Fadnavis said that there is much potential in the state in these sectors and that it also has a competitive edge over other states.

At the closing ceremony, the Indian Railways signed an MoU with the state government to set up a coach factory at Latur for Rs 600 crore. Railway minister Piyush Goyal said the investment earmarked for the Latur factory is for the project’s first phase.

During the meet, Fadnavis said that to make the state a $1 trillion economy the government will work with the services industry as an enabler and facilitator, mainly focusing on ease of business. The textile park in Amravati district is expected to start exporting products soon.

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