Maharashtra unveils policy to draw $5 bn defence investments

State plans Rs 1,000 cr special fund, fiscal & non-fiscal sops

The Maharashtra government on Saturday released a draft defence and aerospace policy to attract investments of $5 billion and create 100,000 jobs in the next five years.

The proposed investments are expected in Pune, Nashik, Nagpur, Ahmednagar and Aurangabad.  

The state government aims to establish Maharashtra as the preferred destination for domestic and aerospace manufacturing, promote indigenous and modernised technological capabilities, develop world-class manpower and support MSMEs to be globally competitive.

In an attempt to cut red tape and remove procedural hurdles, the defence industry will be declared as essential services under the Maharashtra Essential Services and Maintenance Act.