Maharashtra Industry Secretary Aims to Elevate Ease of Doing Business in the State: Insights from IANS Interview

Mumbai, Dec 26 (NationPress) The newly appointed Maharashtra Industry Secretary, P. Anbalagan, an IAS officer from the 2001 batch, expressed on Thursday his commitment to enhance the state's position as the most desirable location for both domestic and foreign direct investments while providing essential support to investors.

Having previously served as the CEO of the Maharashtra Industrial Development Corporation and the chairman and managing director of the state-owned power generation company MahaGenco, Anbalagan stated that the department would function as a facilitator to ensure that investors can execute their projects without unnecessary complications.

On Thursday, Anbalagan succeeded the outgoing principal secretary Harshdeep Kamble as the industry secretary.

"The focus will be on providing guidance to all investors and aiding existing investors in their expansion efforts. We will engage equally with all investors, whether they are small, medium, or large. My goal is to ensure that investors experience complete comfort when interacting with government and other agencies," he shared with IANS.

He added, "Maharashtra has consistently been an attractive hub for investments, both domestic and foreign. We will guarantee timely delivery of services and elevate the ease of doing business, reinforcing the state's leading role in attracting investments. This will be achieved in collaboration with all stakeholders."

Regarding the New Industrial Policy, Anbalagan noted that it is anticipated to be released by March 2024, and efforts will be made to expedite its launch.

"Our aim will be to address previously neglected areas, bringing industries to new regions to harness the potential of other districts," he remarked.

On the potential of the Maoist-affected Gadchiroli district becoming India's next steel hub, as stated by Chief Minister Devendra Fadnavis, Anbalagan responded: "Companies are already establishing themselves there. It is set to become the steel capital of the nation, though it will take time. With numerous thermal plants and other industries in the area, there is significant potential for the development of the specialty steel sector. We will focus on enhancing the downstream steel industry, creating a complete value chain not only in Gadchiroli but also in Nagpur, Chandrapur, and adjacent districts in Vidarbha."

When asked about Maharashtra's ability to attract new investments, particularly during the upcoming World Economic Forum summit in Davos in January, Anbalagan replied, "You will see some exciting figures soon."

Anbalagan's appointment comes at a pivotal moment as Maharashtra has led the nation in foreign direct investment for two consecutive years, 2023-24 and 2024-25. The state achieved a record FDI of Rs 1,25,101 crore in 2023-24, and in the first two quarters of 2024-25, it garnered Rs 1,13,236 crore, which constitutes over 90% of last year’s total FDI.

"Maharashtra is among the foremost industrial states in the country, contributing more than 14% to India's total GDP. The government has set an ambitious goal of making Maharashtra the first state in India to reach a $1 trillion economy by 2027-28," stated the Governor during his address to the joint session of the state legislature on December 9.

Additionally, the government has introduced a policy to grant Anchor Industry status to mega-projects in high-priority sectors such as semiconductors, electric vehicles, aerospace and defense, chemicals and polymers, lithium iron batteries, and steel, among others, along with special incentives to attract more investments to the state.

The approved projects under this policy for the past eight months are expected to draw in approximately Rs 3,29,000 crore in investments and create direct and indirect employment for about 1,18,000 individuals.

The government has also unveiled the State's Information Technology and Information Technology Supported Services Policy, 2023, along with a Green Data Centre Policy.

This policy aims to transform Mumbai into the 'Data Centre Capital' of India.

As part of this initiative, a Green Integrated Data Centre Park will be established in the Mumbai and Navi Mumbai regions, which is anticipated to lead to an investment of approximately Rs 1 lakh crore and generate employment for around 20,000 people across the state.

However, Anbalagan also confronts significant challenges in implementing the recently passed legislation that ensures single-window clearance for investors by reducing bureaucratic hurdles.

(Sanjay Jog can be contacted at sanjay.j@ians.in)