Maharashtra: MahaLicence to be granted for investments more than Rs 50 crore in 48 hours

ST Staff
Friday, 26 June 2020

During the recent Magnetic Maharashtra 2.0 investor meet, various measures and guidelines were declared, to ensure the smooth running of business activities, which were approved on Thursday by the Maha Vikas Aghadi government that is responsible for tracking down the investments in Maharashtra. 

A MahaLicence will be issued to all Foreign Direct Investments (FDI) companies, and for investments of more than Rs 50 crore within 48 hours of submission of application in Maharashtra. All approvals and no objection certificate (NOCs) will be granted through a single opening within this authorized period. In case the NOCs are not provided according to the prescribed time, they will be considered as already granted.

But for companies requiring environmental clearance, clearance will have to be acquired before applying for the licence. 

During the recent Magnetic Maharashtra 2.0 investor meet, various measures and guidelines were declared, to ensure the smooth running of business activities which were approved on Thursday by the Maha Vikas Aghadi government that is responsible for tracking down the investments in Maharashtra. 

The meet has resulted in investments worth Rs 16,000 crore which also includes Rs 5,000 crore from Chinese firms which have been cancelled as of now because of the India-China border clash. The state-owned by the Maharashtra Industrial Development Corporation is expected to get 40,000 acres for building up industries. 

Any industry which can create around 1,000 job opportunities will be provided with land to build hotels for the labour. MIDC is also likely to build up hotels for various other industries during this crisis induced by COVID-19.

The Maharashtra Pollution Control Board announced that Mahalicence will also be granted to those industries under green or orange zones. However, the industries are required to acquire land from the MIDC or a private body to get consent. Various industrial estates will be expanded by the government with an infrastructure comprising computer equipment and even offer the land/property for rent.

Small, micro and medium companies or ventures that have been badly hit by the COVID-19 lockdown will be getting legal assistance from the government. 

The investors can avail all the information and details from the online portal. While another portal will be created for the facilitation of the workforce where residents will get an opportunity to work with the industries and get hired. Acquirement of power at Rs 2 per unit from the Tata Group Coastal Gujarat Power Company has been permitted by the government. But the agreement will get started once the Gujarat and Rajasthan government approves a similar scheme, Maharashtra Energy Minister, Nitin Raut said.

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