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Maharashtra: Licences in 48 hours for investments over Rs 50

All Foreign Direct Investments (FDI) and investments above Rs 50 crore will be granted a MahaLicence within 48 hours of an application being submitted. All approvals and NOCs will be provided through a single window within the prescribed timeline and if NOCs are not issued in time, these will be deemed to have been granted. Industries requiring an environmental clearance will have to obtain that before they apply for a licence.

The Maha Vikas Aghadi government pursuing investments for the state on Thursday approved a slew of measures for ease of doing business, as announced during the recent Magnetic Maharashtra 2.0 investor meet. The meet garnered Rs 16,000 crore worth of investments, of which Rs 5,000 crore from Chinese companies have been put on hold in light of India-China tensions. The state has already promised 40,000 acres for setting up of industries in the state owned by the Maharashtra Industrial Development Corporation. Any industry providing 1,000 jobs will be provided land to construct hostels for workers. Besides, MIDC in light of pandemic will construct hostels for other industries.

Thus industries which are in the green or orange category (non-hazardous) as prescribed by the Maharashtra Pollution Control Board will be eligible for the MahaLicence. However, for permissions to be granted, the industry must first obtain land either from MIDC or a private entity. The government will develop industrial estates with plug and play infrastructure and even offer such land/units on rent.

The government will provide legal aid to small, micro and medium enterprises hit by the lockdown. A portal will be launched to provide information to investors and another for workforce facilitation that will enable sons of soil to be hired by industries. The cabinet approved purchase of power from the Tata group Coastal Gujarat Power Company. The company has offered power at Rs 2 per unit. But the agreement will come into play when a similar proposal is approved by the Gujarat and Rajasthan government, energy minister Nitin Raut said.

Source: https://timesofindia.indiatimes.com/city/mumbai/maharashtra-licences-in-48-hours-for-investments-over-rs-50-crore/articleshow/76635127.cms

June 26, 2020

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