Maharashtra: State gives nod for automatic, accelerated permission to FDI of Rs 50 crore & above

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By: Express News Service | Mumbai | Published: June 26, 2020 1:18:29 am

maharashtra govt nod to fdi, maharashtra govt cabinet meeting, maharashtra govt investement permission, maharashtra investment limit, indian express news It further said permissions will be granted in 48 hours to those industries that are from the green and orange categories of the industrial sectors. (Representational)

To attract more investments in the state, the Maharashtra government Thursday took a slew of decisions in the Cabinet meeting, including granting permission to investment above Rs 50 crore in 48 hours, ‘plug-and-play’ infrastructure for existing and new industries and a portal to provide all information related to investment opportunities in the state with others.

Officials from the Industries department said the government has decided to provide ‘Maha Parwana’ — automatic or accelerated permissions — to industries so that they do not need to run around for permissions.

“All the industrial proposals of foreign direct investment with Rs 50 crore and above will be given permission through a single-window system within 48 hours after receiving the complete application. If the permissions are not granted within a stipulated time, then it will be considered as deemed permission,” a statement issued by the Chief Minister’s Office stated.

It further said permissions will be granted in 48 hours to those industries that are from the green and orange categories of the industrial sectors.

“Apart from this, the government will assist an industrial unit in obtaining other permissions, if required. But, if the industrial units require a go-ahead from the Environment department for production or processing, then they must acquire it first before applying for other permissions,” an official said, adding industrial units need to ensure the availability of plots.

The state government has also proposed to provide ‘plug-and-play infrastructure’ that would help the existing and new industries. “It is to reduce the risk of investors and help them build industries on less capital. The industrial areas will be developed on the ‘plug-and-play model’ in the state. The new investors can select land and fully equipped industrial units on cheaper rates on small- and long-term lease,” another official said. Maharashtra Industrial Development Corporation (MIDC) has reserved 40,000-acre land in the state for the purpose.

The government will also provide land to the industrial units that employ more than 1,000 workers to build the hostels or residential houses on the premises of the unit or the company in the state.

“With a large number of migrant workers going back, the government will set up an Industrial Work Force Facilitation Portal to help industries in getting required manpower and to provide employment to local youths,” the official added.

Another portal will be created to provide all information related to the investment opportunities and about the supply chain.

The government officials believe that all these decisions are “game changers” and will attract the investment in the state in the post-Covid-19 scenario.

The Cabinet has also decided to reduce electricity duty by 1.8 per cent to provide relief to the existing industrial units. It is set to benefit around 4.15 lakh industrial consumers in the state but expected to cost revenue loss of Rs 440 crore to the government.

In another decision, the state Cabinet has given an extension to the information and technology policy until a news police comes into force. The existing policy is supposed to end on June 30 and the new policy could not be framed due to Covid-19 pandemic. The industries department is in talks with experts to formulate a new policy.

Since last month, the state government has focused on resumptions of the industrial activities in the state. Officials from the Industry department said around 60,000 industrial units, employing around 15 lakh labourers, are currently operational in the state.

Last week, the state government launched the ‘Magnetic Maharashtra 2.0’ to attract investment and signed the memoranda of understanding worth Rs 16,100 crore.

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