Maharashtra CM attracts IT giants to state in Davos summit

In a major achievement, chief minister Devendra Fadnavis has attracted foreign investors towards Maharashtra in Davos summit. Fadnavis has clinched crucial corporate deals with MNCs at World Economic Forum summit. State government’s achievement has certainly boosted hopes of entrepreneurs for “Acche Din.”

Fadnavis convinced IT giants like Cognizant, Microsoft, General Electric, Schindler to explore business potentials in Maharashtra. These MNCs will make significant investment in the state which will not only escalate the growth of  the industrial sector but also create job opportunities.

During the press briefing, on the outcome of his visit to the World Economic Forum summit, Fadnavis informed that Cognizant, General Electric, Microsoft, Schindler, Volkswagen and many other multinational giants were keen to come in Maharashtra. He said that the government has extended its full cooperation to the MNCs and has started a land allocation process for their plants.

Significantly, the majority of investors has given preference to Mumbai and Pune, fastest growing IT markets in the country. Fadnavis said that Cognizant will set up their plant in Pune, while Schindler will invest in a second phase project at Talegaon, near Pune for manufacturing escalators. Microsoft is also planning to set up two data centers in Mumbai and Pune.

Fadnavis said that many MNCs are looking forward to contributing in Central government’s “Make in India” initiative. General Electric will invest around Rs.3000 crore, while Australian paper manufacturing firm Visy is keen to set up a paper recycling plant. Similarly, Volkswagen intends to establish a manufacturing plant for small segment cars in the state.

Devendra Deshmukh, CEO, e-Zest Solutions said, “Maharashtra is already leading on IT, but manufacturing coming in the state is a significant thing for industries. It is definitely a positive push by the new leadership in the state.”

Mr. Deshmikh said that IT companies prefer Maharashtra due to the best quality of the workforce and access to local markets and economical hubs like Mumbai. He said that IT service providers and channel partners would benefit due to this new initiative.

Aniruddha Menavlikar, president of CMDA said that with foreign companies coming into the state, it would enable the growth of allied industries. “IT is a part and parcel of all industries. When IT grows all sector prospers. I think it is a major achievement of the Devendra Fadnavis government.”

During his visit, Fadnavis also held discussions with other important companies like Pepsico, Hyosung, L’Oreal, Novartis, Toray International and the Deutsche Bank. Fadnavis said that other major companies: Hilti Group, Diageo, Khimji Group, Credit Suisse, Nomura, JP Morgan, Nestle, Mitsui and Jetro are also keen to set up operations in the state. IT entrepreneurs are now looking forward to bank on the future business opportunities.