Investment proposals worth 1 lakh 35 thousand crore rupees for high-tech industries in the state were approved in a meeting of the Cabinet Sub-Committee on Industries under the chairmanship of Chief Minister Devendra Fadnavis on Wednesday. This will generate about one lakh direct and indirect jobs. Fadnavis said that these projects will boost technological innovation, research, development and employment generation.
A Cabinet Sub-Committee met to approve incentives for large and ultra-large projects under the Department of Industries under the Collective Incentive Scheme and the Thrust Sector Policy for Developing and Emerging Industries.
In the meeting, it was decided to approve special incentives for a total of 17 projects. These projects include companies involved in the manufacturing of semiconductors, silicon, ingots and wafers, cells and modules, electric vehicle components, lithium-ion batteries, aerospace and defense materials, textiles, green steel projects, and greenfield gas-to-chemical production.
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These 17 projects will bring in new investments worth INR 1.35 crore to the state, which will generate direct/indirect employment of one lakh. It was decided to provide concessions in State Employees Provident Fund refunds, Employees Provident Fund refunds, etc.
In addition, the number of thrust sector and high-tech-based projects will be increased from 22 to 30. Land acquisition and allocation at Dapchari and Vankas in Palghar district will be carried out for the proposed project of Reliance Industries Limited. A decision was also taken to grant special incentives to companies engaged in the production of coal gasification and downstream derivatives.
What will develop?
These projects will boost technological innovation, research and development, and develop a strong local supply chain, benefiting the micro, small and medium enterprises sector.
These projects will generate a large amount of investment and employment in the semiconductor, steel projects, and electric vehicle manufacturing sectors in the state.
This will benefit the local economy and the overall development of the state, and will boost technological innovation, research and development. An official from the Industries Department claimed that it will also help increase employability and skills in entrepreneurial technologies.
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