Make in India: Maharashtra Govt signs MoUs worth over Rs 21,000 crore

In order to woo investors and make Maharashtra the most preferred investment destination in the country, chief minister Devedra Fadnavis signed three MoUs worth over Rs 21,000 at the inaugural day of Make in India week organised in Mumbai from 13th-to 18th February, 2016.

These MoUs are expected to drive the investment in the state and facilitate the economic development of the backward regions. Sterlite group of companies, TwinStar Display Technologies and Maharashtra Industrial Development Corporation (MIDC) signed MoU to set up an LCD manufacturing unit -Panel FAB, with technical collaboration with Autron of Taiwan, an official statement said. It requires an investment of Rs 20,000 crore and the location of the plant will be decided soon.

The second MoU was signed between Hindustan Coca Cola Beverages, Jain Irrigation and State Agriculture and Marketing department for setting up a juice manufacturing facility to process oranges. This investment of 600 crore, expected to benefit around 20,000 farmers.

The third MoU was inked between Raymond Industries and MIDC as part of the ‘Farm to Fabric’ initiative. Raymond intends to invest Rs 1,400 crore in manufacturing linen yarn, fabric and garments. The facility will be set up in Nandgaon Textile Park in Amravati district in Vidarbha, and will procure cotton from the farmers.

The much talked about Make in India, Mumbai Week event was inaugurated here on Saturday by PM Narendra Modi in presence of Swedish Prime Minister Stefan Lofven, Finnish Prime Minister Juha Sipilä, Polish Prime Minister  Beata Szydło and other senior dignitaries from India and abroad.

Government delegations from 49 countries and business delegations from 68 countries have attended the event. There are 17 state exhibitions and several country pavilions at the centre. The country pavilions also include exhibitions from Sweden, Germany and South Korea. 190 exhibitors would showcase manufacturing prowess of the country across the focus sectors.

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