State govt bags Rs 16 lakh crore MoUs in two days at BKC business summit

Mumbai: The state has managed to bag investments of Rs 16 lakh crore at the Magnetic Maharashtra investment summit, which concluded at BKC on Tuesday. The state has signed 4,016 MoUs worth Rs 12.1 lakh crore while government corporations and undertakings are investing Rs 3.90 lakh crore and have signed 104 MoUs, said chief minister Devendra Fadnavis.

“We have got investment proposals for the backward regions of Marathwada and Vidarbha also, which will boost development across the state in all the sectors.

This huge investment will generate 38 lakh employment in the state and we will achieve the target of becoming the state with a one trillion economy,” said Mr Fadnavis. The state government and the railways have signed an MoU to set up a rail coach manufacturing factory at Latur in the presence of Railway minister Piyush Goyal and Mr Fadnavis.

While concluding the Magnetic Maharashtra summit, CM Fadnavis spoke about the MoUs, the discussions with the industries and the overall response.

He said that Maharashtra had bagged Rs 8 lakh crore investment and signed 2984 MoUs at the ‘Make in India’ summit two years ago. Of these, work has started in 896 projects worth Rs 72,000 crore and other projects are at various levels. So the rate of conversion from MoUs to investment is 63.36 per cent, which is highest.