Proposals worth Rs 1 lakh crore investment, 1 lakh job avenues get Maharashtra cabinet nod

Mumbai, May 20 (PTI) The Maharashtra cabinet on Tuesday approved 325 proposals of the industries department which are expected to attract investment of more than Rs 1 lakh crore and generate nearly one lakh jobs.

An official release said due to the expiration of existing industrial policies, 325 pending proposals of the department were approved by the cabinet at its meeting here.

These proposals are expected to attract investment of Rs 1,00,655.96 crore and generate 93,317 jobs, said the release.

The policies which have expired are Maharashtra Electronics Policy, 2016 (including fab projects), Space & Defence Manufacturing Policy, 2018, Ready-made Garments, Gems & Jewellery, Microelectronics & Engineering Cluster Policy, 2018 and Industrial Policy of Maharashtra, 2019, it said.

The cabinet approved pending proposals under the expired policies till new ones are framed. The pending proposals included 313 proposals under the Electronics Policy, 2016 with investment potential of Rs 42,925.96 crore and capacity to generate 43,242 employment opportunities.

There were 10 proposals under the Space & Defence Policy, 2018 which have investment potential of Rs 56,730 crore and creation of 15,075 jobs, according to the release.

Two proposals related to the Garments, Jewellery, and Engineering Cluster Policy had investment opportunity of Rs 1,000 crore and potential to create 35,000 jobs, it added. PTI MR RSY

Source: PTI