Quick nod for FDI, industrial investment of Rs 50 crore and more

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The Maharashtra government on Thursday approved a proposal to provide automatic, accelerated permission to FDI and industrial investment plans of Rs 50 crore and more in the state. The proposal was approved by the cabinet at its meeting here.

A statement from the Chief Ministers Office (CMO) said eligible industrial units will be provided maha parvana (permit) to start production within 48 hours of receivingonline applications.

The new and existig industrial investors will be provided 'plug and play' infrastructure to reduce their risk during the times of COVID-19.

The "plug and play" concept has been designed by MIDC where investorswill get required infrastructure and tehnology at affordable rates, the statement said.

Plug and play concept normally refers to providing ready-to-use facilities to industries. The infrastructure will be made available on lease for

which MIDC (Maharashtra Industrial Development Corp) will make available 40,000 acres of land, it said. For companies which have more than 1,000 workers, MIDC will make available accomodation and hostels for them in their premises, the statement said.

MIDC will also set up an industrial workforce facilitation portal with information about job opportunities to locals in various sectors, it said.

Also, a unified search portal will be prepared to make available all required information to investors, the statement added.