Mumbai to witness huge business deals, multi-million investments

Mumbai to witness huge business deals, multi-million investments

By VINAYA DESHPANDE | NEW DELHI | 13 February, 2016
Prime Minister Narendra Modi at the inauguration of the Swedish Pavilion during the Make in India week in Mumbai on Saturday. Also seen Swedish Prime Minister Stefan Lofven on the PM’s right. IANS
Mumbai is set to witness huge business deals and multi-million investments in key sectors during the Make In India Week which was inaugurated by Prime Minister Narendra Modi here on Saturday in the presence of high-level dignitaries including two Heads of States. Touted as the largest business exhibition of the country till date, the Make In India week is likely to attract investment of over Rs 4 lakh crore for Maharashtra alone.
The huge exhibition which is to be held between 13 February and 18 February at the MMRDA Grounds in Bandra-Kurla Complex, will host delegations from 52 countries, over 1,000 foreign delegates, 68 foreign industry delegations, 18 high-level foreign government delegations, 8,000 Indian CEOs and industry leaders. Many Cabinet ministers and chief ministers will also remain present to promote their ministries and states for investment. Many companies will showcase their products and strengths during the course of the week-long exhibition. Various sectors like leather, mining, chemicals, textiles, IT and BPM, construction, roads and highways, railways, renewable energy, tourism, wellness, space, will be highlighted for international investment. Nearly 55 seminars, five country sessions, 12 state investment summits and 21 sector-specific seminars have been planned through the week. There are 27 pavillions in the MMRDA Ground. They are spread over 2,20,000 square metres. The largest pavilion has been allotted to Maharashtra. It measures nearly 10,000 square metres, and will highlight investment opportunities in the state in various textile parks, automobile sector, food, industry, construction and other sectors. There will be 3,000 B2B, B2G and bilateral meetings, and 55 events. Sessions for start-ups and innovation have also been envisaged. Over Rs 100 Crore have been spent on the mega-event which will include a Maharashtra Night at famous Girgaum Chaupaty, along with 35 other cultural events. 
Maharashtra government had recently knocked on the doors of the Supreme Court to get special permission for holding the cultural extravaganza at Girgaum Chaupaty, after the Bombay High Court had refused to grant permission. The star-studded programme to be held on 14 February night, is expected to attract a footfall of 25,000. Gateway of India and Bandra fort will also host some cultural events. Apart from Maharashtra, 16 other States including Orissa, Punjab, Haryana, Madhya Pradesh, Andhra Pradesh, Gujarat, Rajasthan will showcase their potential for seeking investment.  Apart from the state pavilions, there will be 11 sector-specific pavilions. The Make in India centre put up by the Union government showcases the investment opportunities in manufacturing. The Ministry of Defence and the Ministry of Railways have also set up exhibits. During the inauguration of the Make In India week here on Saturday afternoon, Modi was accompanied by the Prime Ministers of Sweden and Finland. He then held high-level talks with various foreign dignitaries and company heads. Later in the day, Maharashtra signed MoUs with the Sterlite company, Hindustan Coca Cola Beverages private limited, Raymond Industries, Fiat Chrysler. Fiat is to set up a Rs 1,800 automobile plant in the state.
While Maharashtra Chief Minister Devendra Fadnavis has announced grand plans of opening over a dozen textile parks and industrial parks in Vidarbha and Marathwada, the severe drought condition in Marathwada is already crippling the current industries there.  Shendra and Bidkin mega industrial parks have been announced by the state in the Marathwada region, but the move has been questioned owing to the severe water shortage. The government has had to resort to frequent water cuts in the area. The opposition has also raised questions over the farmers’ suicides in the state. It has sought that the state should showcase the suicides too, while talking of the Make in India week.
 

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