Once bitten twice shy. Maharashtra government, in a serious bid to regain state's pre-eminence in attracting investments and also win the confidence and faith of investors, plans to launch a massive “Investor- After Care” exercise.
While Maharashtra has a lot to be legitimately proud of in term of industrial achievements and prowess, there have also been growing apprehensions and worries among investors about the discomfort, unease felt by them in doing business in and with Maharashtra especially in recent years.
The government aims to address issues and concerns of the investors after their decision of locating in Maharashtra. As a beginning, the state government would partner with Maharashtra Economic Development Council (MEDC), which is an Independent Policy Think Tank, in organising a conference on October 20 to discuss issues on Investor-After Care.
The state government's move comes at a time when the existing investors in the field of power, manufacturing, engineering, automobile and textile to mention a few have cited former's neglect at their issues. Inconsistency in policies has been a major cause of concern expressed by investors during the recent meetings between the industry representatives and the chief minister Prithviraj Chavan and also during separate interaction with officials from the different departments.
Moreover, government cut a sorry figure after the neighbouring Gujarat attracted major investments from Tata Motors, Ford, Maruti. Besides, the government is currently engaged in the formulation of a new industrial and investment policy to consolidate its investor savvy position.
A senior government official, who did not want to be identified, told Business Standard “Investors have brought to the government's notice concerns on poor infrastructure, issues involved in land acquisition, constraints in the availability of skilled human resources and delays in completion of several procedures. Investor-After Care campaign will focus on addressing these issues and increasing their comfort level for doing business in Maharashtra. The chief secretary is coordinating various departments and agencies personally in order to fast track redressal of issues raised by investors.”
CS Deshpande, MEDC's executive director said "We feel it is necessary to address legitimate concerns of investors in Maharashtra, holistically, rather than through piecemeal approach. The proposed conference will be a significant step in this direction. The conference will facilitate a meaningful and solution – oriented dialogue between the investors and policy makers on the critical issues affecting the business – environment in Maharashtra. MEDC has always recommended to the state government to benchmark the Maharashtra's capabilities and facilities with the best in the world, be they – infrastructure, education or the laws and rules governing business."