Aiming to create more jobs in the state, the Maharashtra goverment is looking to develop service-based industries in all areas under Maharashtra Industrial Development Corporation (MIDC).
MIDC, which functions as a special planning authority for development of industrial areas, will be required to submit a report of all the areas under it to the Cabinet and give a plan of action for each area.
Proposals for some areas already seem to have been thought about. The state government is proposing to develop a new international business and finance centre, on the lines of BKC in the industrial estate at Thane Belapur road, Navi Mumbai, also known as TTC MIDC Estate, according to the draft housing policy of the state government. The policy states, “Mumbai’s competitive advantage of being the financial capital of India is under challenge from many cities within India. It is therefore necessary that all steps be taken to maintain Mumbai’s competitive advantage as the financial capital of India by looking and planning ahead”.
It is with this objective, the policy states, that the MIDC areas be developed to “not only provide affordable housing but also to provide for new-age industrial development with an emphasis on services and the ‘Make in India’ plan of the government of India”.
The government expects that the proposed IBFC in TTC MIDC alone will create 5 lakh new jobs in Mumbai Metropolitan Region (MMR). However, the policy does not quantify the number of jobs that will be added as a result of the industrial transformation planned for all MIDC areas.
To address this issue of unsuccessful IT parks, the government is now proposing to allow the existing lease holder to develop the land for financial services and IT parks with a further provision to allow 50% of such built-up area within the development to be used for residential purpose in the affordable category. As per the policy, TTC-MIDC area will be declared a financial/services centre with FSI of 4.
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