Maharashtra Governor: SMEs Set to Flourish with Vadhvan Port and Navi Mumbai Airport

Synopsis

Maharashtra Governor C.P. Radhakrishnan highlighted that SMEs will experience growth with the upcoming Vadhvan port and Navi Mumbai airport, emphasizing the state's role in achieving a $5 trillion economy and its initiatives to enhance industrial parks and the textile sector.

Key Takeaways

Vadhvan Port and Navi Mumbai Airport to boost SME growth.
Maharashtra contributes over 14% to India's GDP.
Initiatives to develop 10 Integrated Parks for industry.
Launch of 'Maharashtra Technical Textiles Mission'.
Goal of $250 billion Textile Industry by 2030.

Mumbai, March 5 (NationPress) Maharashtra Governor C.P. Radhakrishnan announced on Wednesday that Small and Medium-sized Enterprises (SMEs) in the state are poised for significant growth following the launch of operations at the Rs 76,000 crore Vadhvan port and the Navi Mumbai International Airport.

This statement was made during the Maharashtra Industries & SME Summit, co-hosted by the Maharashtra Industry Development Association (MIDA) and the SME Chamber of India in Mumbai.

The Governor underscored the vital role of SMEs in realizing the vision of 'Viksit Bharat' and praised MIDA and the SME Chamber of India for their initiatives in empowering SMEs, manufacturing sectors, and startups.

He highlighted their essential contribution to advancing India towards a $5 trillion economy under the guidance of Prime Minister Narendra Modi.

Radhakrishnan expressed optimism that the economy of Maharashtra will witness a transformation with the operationalization of the Vadhvan Port and the Navi Mumbai airport.

His remarks followed a recent address at the joint session of the state legislature, where he stated that Maharashtra is a favored hub for Foreign Direct Investment and accounts for over 14 percent of the nation's total GDP, positioning it as one of the leading industrial states in India.

Additionally, the government has resolved to establish 10 Integrated Industrial Parks and Integrated Logistics Parks to bolster industrial development, enhance supply chain efficiency, and create a world-class business environment.

Moreover, the state government has approved the initiation of the 'Maharashtra Technical Textiles Mission' aimed at strengthening and expanding the textile sector.

Maharashtra has taken the lead as the first state in India to introduce such a mission, aligned with the Central government's National Technical Textiles Mission, reinforcing its dominance in the textile industry.

The Vision Statement of the National Technical Textiles Mission by the Textiles Ministry outlines a goal of positioning India as a Global Textiles manufacturing hub, aspiring to develop a $250 billion Textile Industry and achieve $100 billion in Global Textile Exports by 2030, focusing on high-tech and high-growth product segments while ensuring sustainability and creating large-scale livelihood opportunities.