New Delhi, Feb 16 (KNN) Maharashtra is organizing its first global investors summit “Magnetic Maharashtra” on Feb 18, 2018. This 3 day event will be inaugurated by Prime Minister Narendra Modi.

The aim is to attract investment that will create employment opportunities.

During the summit, state government is expecting to sign memorandum of Understanding ( MoUs) worth Rs 10 lakh crore , that will generate employment for 35 lakh people in the state.

The key sectors like textiles, engineering, food processing, defence manufacturing and micro, small & medium enterprises (MSME) will be the focus of the summit. In order to attract investment state government have taken 12 policy decisions in the past few days.

The target of 10 lakh of investment is segregated in 2 parts, one would be Rs 2 lakh crore over the memoranda of understanding (MoUs) and worth Rs 8 lakh crore signed by the state government at the 2016 make in India event.

Commenting on conversion of 61% of MoUs signed in 2016 into real investment Maharashtra Industries Minister Subhash Desai said “as many as 2,121 industries are at various stages of investment”.

He further mentioned that some industries have been allotted land while construction process has already begun and some of the industries have also started production.

Sunil Porwal, Additional Chief Secretary, Industries added that the summit would allow the world to know about the investment opportunities in the state and to learn the measures to improve investor-friendly environment. (KNN/YV)