The memorandum of understanding (MoU) was signed between the Maharashtra Industrial Development Corporation (MIDC) and the UK India Business Council in the presence of state Industries Minister Subhash Desai and British Minister of State for Trade and Investment Lord Ian Livingston.
"We are trying to re-align Prime Minister Narendra Modi's 'Make in India' programme with 'Make in Maharashtra' by re-analysing all business procedures and trying to drastically reduce the number of approvals needed to start business in the state," Desai said.
"The success of Modi government's programme depends on the success of 'Make in Maharashtra'. Therefore, we are taking various initiatives to provide investor-friendly environment. We want to reduce the number of approvals to set up a business in Maharashtra to 25 from the current 76," Desai said.
The state is expecting nearly Rs 5 lakh crore of investments in the next 3-5 years.
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"Apart from investments, our government's focus will also be on generating employment. Our focus is thus going to be on giving a boost to the manufacturing sector, which is the largest employment generator. We will encourage those companies which would want to set up manufacturing facilities here," he said.
"There are many MIDC plots in the state, which were alloted in the last 10-15 years, but no commercial work has yet begun there. We are acquiring back these plots and will be giving them to only those who want to set up manufacturing facilities," he said.