Maharashtra introduces 'plug and play' model to attract investors

Pandurang Mhaske
Thursday, 14 May 2020

To attract investments from various countries, the Maharashtra government has drafted a ‘plug and play’ model.

Mumbai: To attract investments from China, Taiwan, US, Japan, Germany, South Korea and the UK, the State government has drafted a ‘plug and play’ model. According to the model the investors will be provided land in ready to move in condition at an affordable cost. All permissions will be issued from a single green channel and production kick-started in the shortest possible time.

This model has been drafted by the Industry Department of the State with Maharashtra Industrial Development Corporation (MIDC). After the COVID-19 pandemic, the government is eyeing investment to revive the economy.

The government has identified about 2,500 companies from various countries with an investment potential of Rs 2.5 lakh to 3 lakh crore in multiple sectors, including manufacturing, IT, logistics, chemicals and pharmaceuticals, food processing, textile and gems and jewellery.

According to the Industry Department, under this model, investors will be provided with land and ready-made sheds on a rental basis, where they can install machines and start production in three months. MIDC has nearly 60,000 acres of land, of which 30,000 acres are already in possession.

The remaining is in various stages of acquisition. Of the 30,000 acres in MIDC’s possession, 25,000 acres can be utilised in implementing the plug and play model. The land is available in Raigad, Nashik, Aurangabad and a couple of other districts.

An MIDC officer said the investors will need 2.5 to 5 acres of land, as they will be interested to take it on lease post-COVID-19. “MIDC will assign dedicated relationship officers for the completion of the sheds or helping the investor to complete the construction of the industrial unit under the plug and play model. The investors can get all permissions within 24 hours,’’ said the officer.

When asked, Industry Minister Subhash Desai said the government is focusing to revive the economy with the help of industry sector. “As the industries start, the economy will get a boost,” he added.

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