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Maharashtra: Investments above 50 crores will be granted a license within 48 hours

All FDI and investments above 50 crores will be granted a MahaLicense within 48 hours of an application being submitted.

Maharashtra: Investments above 50 crores will be granted a license within 48 hours
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All Foreign Direct Investment (FDI) and investments above 50 crores will be granted a MahaLicense within 48 hours of an application being submitted. All approvals along with the NOCs will be provided through a single opening within this authorized period. If the NOCs are not provided within the stipulated time, they will be deemed as granted.

The Maha Vikas Aghadi government pursuing investments for the state on Thursday authorized for an array of measures for the ease of doing business. The meet garnered ₹16,000 crores of which ₹5,000 crores from Chinese companies have been put on hold in light of the recent tensions between India and China.

The government is said to put across automatic and efficient permission mechanisms to make the process error-free and without procedural delays. Master Licenses (Maha Parvana) will be authorized through a single-window system in 48 hours for those who want to make an investment of ₹50 crores and up. The proposed investments, however, will have to be in the green and saffron category which will be identified by the Maharashtra Pollution Control Board.

IAS officer Bhushan Gagrani has further been appointed by the government to coordinate with investors, consultants, trade bodies, consulates and high commissions to bring forth domestic and foreign direct investments in the state.

The Maharashtra Industrial Development Corporation, in order to address the availability of employees, especially with the migration of a large number of workers to their hometowns in the wake of the COVID-19 crisis, will set up an Industrial WorkForce Facilitation Portal. A relationship manager is said to be appointed for every individual interested investing, who is said to address the grievances of the investor and help them commission projects in an effective way.

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