Magnetic Maharashtra 2.0 dazzles in World Expo 2020, Dubai
Maharashtra has always been a global investment hub and is home to some of the largest and most successful business houses in the country
The World Expo 2020 is taking place in Dubai, UAE between October 2021, and March 2022. Government of Maharashtra is participating between November19, 2021 and December 2, 2021. The delegation is led by the state Minister of Industries, Subhash Desai who is joined by a senior delegation from the Industries department between the 19th and 21st of November 2021.
Maharashtra has always been a global investment hub and is home to some of the largest and most successful business houses in the country. The state has been at the forefront of FDI inflows in India, attracting the largest share of approximately One Third of India’s cumulative Foreign Direct Investment (FDI) inflows during April 2000 – 2020. The state’s journey has included an increase in FDI inflow from INR 2,543 Crores in 2004-05 to INR 79,216 Crores in 2019-20.
The consolidated efforts of Industries department, their robust policies and visionary leadership of the state Government has boosted industrial growth and boost investor confidence, positioning the state to be one of the most favored investment destinations of the country, thereby flourishing the industrial sector of the state.
Under Magnetic Maharashtra 2.0, now in its 7th edition and its 1st international edition in Dubai, MIDC was able to sign 25 MoU’s with a proposed investment of almost INR 15,260 crores ($2 billion) with potential direct employment generation for 10,851 people.
The MoUs signed are in key thrust sectors which are Auto and Auto Components, Logistics, EV, Textiles, Data Center, Phama, Bio-fuels and Energy. It is interesting to note that all the interested FDI investors are of the sectors where Maharashtra has dedicated promotion policies. This signifies the importance of State Government’s pro-activeness in policy development and good governance.
It is a matter of pride for Maharashtra that companies from 6 countries, that is, Japan, Singapore, Sweden, Korea, Germany and Italy will be investing in Maharashtra. FDI is an important strategic tool for the economic development of the country and the state, for which it is essential to participate in global events such as the Dubai World Expo.
On November 19, the state started its journey with a bang showcasing its culture, art, history and industrial might.
With the success of the event, the Minister of Industries, Subhash Desai has once again reiterated the state’s belief in industries, sector diversity, indigenous capacities, future readiness and the executional prowess. With this, Magnetic Maharashtra 2.0 bolsters the message that Maharashtra - the torch bearer of India’s growth is “Open for Business”