In a major push to industrial growth and employment generation, the Maharashtra government has approved 17 projects with a collective investment potential of Rs 1.35 lakh crore, said a CNBC TV18 report. The Cabinet sub-committee chaired by Chief Minister Devendra Fadnavis approved the projects.
Deputy CMs Eknath Shinde and Ajit Pawar, Industries Minister Uday Samant, Chief Secretary Rajesh Kumar, Additional Chief Secretaries OP Gupta (Finance), Rajgopal Deora (Planning), and other senior officials from various departments were present at the meeting.
Focus on high-tech and thrust sectors
The approved projects span a range of high-technology and thrust sectors, including semiconductors, EV components, solar modules, lithium-ion batteries, green steel, and gas-to-chemicals production. The projects are expected to create nearly 1 lakh direct and indirect employment opportunities across the state, a statement from the Chief Minister’s Office (CMO) said.
According to the report, a total of 19 large, mega, and ultra-mega projects were considered for special incentives based on their investment scale and employment potential. Of these, 17 projects were approved.
Devendra Fadnavis said that these projects would promote technological innovation, research, development, and employment generation, strengthening Maharashtra’s industrial ecosystem.
Incentives approved include capital subsidies, power tariff concessions, industrial promotion assistance, land ownership refunds, and EPF contribution rebates. Further, the scope of sectors eligible for these incentives has now been expanded from 22 to 30, the statement from the CMO stated.
Major corporates to drive industrial growth
The projects were approved for major corporations like Reliance Industries, Hyundai Motor India, UNO Minda Auto Innovation, Paras Defence & Space Technologies, Air Liquide, and Jupiter Renewables.
Land allocation was also cleared for Reliance’s upcoming ventures in the Palghar district. Additionally, the government approved inclusion of “Coal Gasification and Downstream Derivatives” as eligible products under the February 22, 2024 government resolution, enabling companies in this space to access special benefits.