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Magnetic Maharashtra Aims to Uncover Maharashtra as the Preferred Destination for Investments

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| February 19 , 2018 , 19:09 IST

Prime Minister Narendra Modi delivered the inaugural speech at the Global Investors' Summit - 'Magnetic Maharashtra: Convergence 2018' on 18 February 2018. The Global Investors’ Summit is targeting fresh investment, after the state bagged 51 percent of total Foreign Direct Investment (FDI) in India, which is an outstanding achievement.

Speaking at the Global Investors' Summit, PM Shri Narendra Modi said the Government's budget reforms had created a new work culture and were transforming the socio-economic landscape of the country. It is true that ‘ease of doing business’ has been a productive for business growth in the state as well as across the country.

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“Hon’ble PM laid emphasis on the government’s efforts, saying that in the last three years 1,400 laws had been repealed and the new ones were being written with the intent of simplifying the overly complicated system. This went well with the theme of first-ever Magnetic Maharashtra: Convergence 2018 summit, which aims to project Maharashtra as the final destination for domestic as well as foreign direct investment," says Dr Niranjan Hiranandani, President of NAREDCO.

Quoting Maharashtra Chief Minister Devendra Fadnavis, he added that in the past couple of years, Maharashtra had achieved a new trajectory in bolstering the state’s industrial output. This is evident in multiple reports released by reputed financial bodies that place the state ahead in terms of Ease of Doing Business, as also statistics such as 50 percent of infrastructural development of India being clocked in Maharashtra.

Speaking at the Global Investors' Summit, PM Modi said the government's budget reforms have created a new work culture and are transforming the socio-economic landscape of the country. “This is obviously, good for the nation’s economic development and business growth,” concluded Dr Niranjan Hiranandani.