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Maharashtra is still leading industrial state

Posted on Feb 09, 11:19AM | UNI

Mumbai, Feb 8 : Maharashtra, despite the competition from other states, is still the leading industrial state and receives the highest FDI (33 per cent) of the total FDI in India, Chief Minister Prithviraj Chavan said today.

He was delivering his inaugural speech at the Maharashtra Industry Summit, organised by Maharashtra Industrial and Economic Development Association (MIEDA) and SME Chamber of India here.

Talking on the state's taxation, he assured that the government aims to completely abolish Octroi tax very soon to encourage in the investment climate in Maharashtra.

Emphasising the importance of developing adequate industrial infrastructure, the Government has started focusing on development of private ports.

He assured the industry of 24x7 power supply at affordable costs and the cross subsidy to the agriculture sector to be reduced.

Talking on the New Industrial Policy, he mentioned that the policy will focus on overall development of backward regions of the state, attract more investments from private sector and generate 20 million jobs.

On the lines of DMIC, three more corridors are being planned: Mumbai-Nagpur-Aurangabad, Konkan area and Pune - Satara - Kolhapur - Bangalore, observed the Chief Minister.

He concluded by assuring that though the industry is facing certain setbacks, Maharashtra economy will bounce back in the near future to retain the number one position.