Maharashtra Clears 325 Industrial Proposals, Massive Investment & Jobs Incoming; Over 1 Lakh Cr Boost Expected

Mumbai: The Maharashtra cabinet has given its approval to 325 industrial proposals. These proposals are worth more than Rs 1 lakh crore and are expected to create around 93,317 new jobs in the state.

The cabinet decision was made during a meeting held on Tuesday in Mumbai. These proposals had been pending because several state policies had expired. Now, the government has cleared them under the old policies until new ones are formed.

Expired Policies Cleared Temporarily

Some of the major policies that had expired include:

Maharashtra Electronics Policy, 2016

Space & Defence Manufacturing Policy, 2018

Ready-made Garments, Gems & Jewellery Policy

Microelectronics & Engineering Cluster Policy, 2018

Maharashtra Industrial Policy, 2019

These expired policies were stopping investment from coming in. To fix this, the cabinet approved the proposals temporarily under these old policies.

Electronics Sector Gets the Largest Share

Out of the 325 total proposals, 313 belong to the Electronics Policy of 2016. These are worth Rs 42,925.96 crore and can create about 43,242 jobs. This makes the electronics sector the biggest winner.

Big Plans for Space & Defence Too

The Space & Defence Manufacturing Policy also received attention. Ten proposals were approved under this policy. They are worth Rs 56,730 crore and could generate 15,075 new jobs in this high-tech sector.

Small Sectors, Big Jobs

Two proposals were also approved under the Garments, Jewellery, and Engineering Cluster Policy. Though the investment is Rs 1,000 crore, these sectors can create about 35,000 jobs. This shows how even small investments can lead to big employment opportunities.

A Step Towards Growth

The Maharashtra government hopes these approvals will boost economic growth. With large investments and job creation, this move is expected to help both industries and job seekers across the state.

(With PTI Inputs)

news