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Maharashtra Govt Signed ~ Rs 35,000-crore MoUs with 15 companies during ‘Magnetic Maharashtra 2.0’ in Mumbai

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Maharashtra government inks Rs 35,000-crore MoUs with 15 companiesOn November 2, 2020, the state government of Maharashtra has inked Memorandums of Understanding (MoUs) worth around Rs 35,000 crore with 15 companies viz. 10 Indian and 5 global companies at the ‘Magnetic Maharashtra 2.0’ investor meet in Mumbai, Maharashtra in order to develop state as data and logistics hub in western India. The event was attended by the state’s Chief Minister (CM) Uddhav Bal Thackeray. These MoUs are in addition to the 12 companies which signed the deals on June 15, 2020. Click Here to Read

  • The MoUs were signed with the state-run Maharashtra Industrial Development Corporation (MIDC) in the presence of Industries Minister Subhash Desai and Minister of State (MoS) for Industries Aditi Tatkare.
  • These include seven agreements for setting up data centres, five for logistics and one each in the gas & fuel, chemicals, and electronics sectors.
  • The MoUs will also help in encouraging economic activities that are affected due to COVID-19 pandemic.

Key Points:

–The recent MoUs are expected to create 23,182 jobs.

–15 companies signed MoU’s.They are Net Magic IT Services is planning another data centre with Rs 10,555 crore investment. Adani Enterprises is also planning a data centre with Rs 5,000 crore investment. The UK-based Colt company through Data Center Holdings India LLP would also be setting up a data centre with Rs 4,400 crore investment, Spain-based Mantra Data Centre is looking at setting up of the facility with Rs 1,125 crore investment, STT Global Data Centres India Pvt Ltd is investing Rs 825 crore, while Singapore-based Princeton Digital Group will invest Rs 1,500 crore and Nxtra India Rs 2,500 crore in the data centre facility. In the electronics space, Mitsubishi Electric India of Japan will invest Rs 490 crore, Bright Sino Holdings Pvt Ltd will invest Rs 1800 crore in the oil and gas sector.

–It was also announced that the state is planning to bring in over Rs 1 lakh crore investments in the coming few months.

–It should be noted that Magnetic Maharashtra was launched by the previous government, led by Devendra Gangadharrao Fadnavis, in 2018 with an aim to bring in investments worth Rs 10 lakh crore.

Recent Related News:

i.On September 2, 2020, Small Industries Development Bank of India (SIDBI) has inked MoU with Government of Maharashtra to develop the micro, small and medium enterprise (MSME) ecosystem in the state.

ii.In a bid to tackle the coronavirus pandemic among further relaxation of lockdown curbs, Uddhav Thackeray announced the launch of ‘My Family, My Responsibility’ Campaign. The campaign aims to motivate the maximum number of people to adopt a new lifestyle for effective COVID-19 control.

About Maharashtra:

Capital– Mumbai
Governor– Bhagat Singh Koshyari
Tiger Reserves-Tadoba Andhari Tiger Reserve, Nawegaon Nagzira Tiger Reserve, and Melghat Tiger Reserve