tomhardy
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The Make in India Week- Day 2 and 3
After an exciting start, the day 2 at Make in India Week, Mumbai was a mix of highs and lows. On the business front, a lot of activity was witnessed as a number of deals and reforms took place. The government welcomed investors to India with Odisha Investors Meet and Haryana Investors Meet. The officials also had a meeting with representatives from Poland exploring opportunities in mining, food processing, IT, defence and clean energy. The Japan Country Session was also a part of Day 2 agenda.
With an aim to make Odisha one of the top three investment destinations in India, Chief Minister Naveen Patnaik unveiled a 10 year 'industrial development policy - 2025'. Diversified group ITC announced its plans to invest Rs 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state. The hotel property will come up in Bhubaneshwar, while the food processing park details are being worked out. Nearly, Rs 630 crore will be invested in the food processing park and the rest of the money will be invested in the hotel. Apart from these two investments, the company is also looking at investments in the agro forestry side in Odisha.
The Finance Minister, Mr. Arun Jaitley announced the government’s plans of launching a series of banking reforms. He said that the country is not at a stage where the government can completely exit its holding in the 27 public sector banks. He further said that in order to professionalize the operations of these state-run banks, which control over 70 per cent of the industry, the government has already committed to bring down its holding to up to 51 per cent.
Though this day proved to be fruitful in terms of business, it ended with fire outbreak at the cultural programme. Luckily, everything was in control soon and nobody was hurt.
Despite the fire accident, the day 3 at the Make in India was smooth and went on according to the plan. There were many important announcements made by government. The Defence Minister announced that the new procurement policy will roll out from 2nd of April. The Coal Minister revealed the plans of opening up the process of auction of linkages.
Tulsi Tanti, Chairman, Suzlon Group announced that the company would invest around Rs. 150 crore for expanding three new manufacturing facilities, one each in Andhra Pradesh, Rajasthan and Madhya Pradesh.
The Maharashtra government signed 21 memorandum of understanding (MoUs) with companies worth over Rs 40,000 crore. The MoUs include an investment of Rs 8,000 crore by the Mahindra Group for its units in Pune and Nashik and another worth Rs 3,750 crore investment by steelmaker Uttam Galva to expand its Wardha plant. Also, a Rs 2,000 crore MoU was signed with automaker Mercedes to expand its plant in Pune.
The government also unveiled a National Capital Goods Policy to give an impetus to the capital goods sector and a leg up to the Make in India initiative. This is for the first time that a national policy has been framed for the sector.
There’s so much that has happened in just three days that it is impossible to detail out everything in one article. The Make in India website has all the details for your knowledge. We hope we continue walking on this success path and make ‘Make in India Week, Mumbai’ a success.
After an exciting start, the day 2 at Make in India Week, Mumbai was a mix of highs and lows. On the business front, a lot of activity was witnessed as a number of deals and reforms took place. The government welcomed investors to India with Odisha Investors Meet and Haryana Investors Meet. The officials also had a meeting with representatives from Poland exploring opportunities in mining, food processing, IT, defence and clean energy. The Japan Country Session was also a part of Day 2 agenda.
With an aim to make Odisha one of the top three investment destinations in India, Chief Minister Naveen Patnaik unveiled a 10 year 'industrial development policy - 2025'. Diversified group ITC announced its plans to invest Rs 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state. The hotel property will come up in Bhubaneshwar, while the food processing park details are being worked out. Nearly, Rs 630 crore will be invested in the food processing park and the rest of the money will be invested in the hotel. Apart from these two investments, the company is also looking at investments in the agro forestry side in Odisha.
The Finance Minister, Mr. Arun Jaitley announced the government’s plans of launching a series of banking reforms. He said that the country is not at a stage where the government can completely exit its holding in the 27 public sector banks. He further said that in order to professionalize the operations of these state-run banks, which control over 70 per cent of the industry, the government has already committed to bring down its holding to up to 51 per cent.
Though this day proved to be fruitful in terms of business, it ended with fire outbreak at the cultural programme. Luckily, everything was in control soon and nobody was hurt.
Despite the fire accident, the day 3 at the Make in India was smooth and went on according to the plan. There were many important announcements made by government. The Defence Minister announced that the new procurement policy will roll out from 2nd of April. The Coal Minister revealed the plans of opening up the process of auction of linkages.
Tulsi Tanti, Chairman, Suzlon Group announced that the company would invest around Rs. 150 crore for expanding three new manufacturing facilities, one each in Andhra Pradesh, Rajasthan and Madhya Pradesh.
The Maharashtra government signed 21 memorandum of understanding (MoUs) with companies worth over Rs 40,000 crore. The MoUs include an investment of Rs 8,000 crore by the Mahindra Group for its units in Pune and Nashik and another worth Rs 3,750 crore investment by steelmaker Uttam Galva to expand its Wardha plant. Also, a Rs 2,000 crore MoU was signed with automaker Mercedes to expand its plant in Pune.
The government also unveiled a National Capital Goods Policy to give an impetus to the capital goods sector and a leg up to the Make in India initiative. This is for the first time that a national policy has been framed for the sector.
There’s so much that has happened in just three days that it is impossible to detail out everything in one article. The Make in India website has all the details for your knowledge. We hope we continue walking on this success path and make ‘Make in India Week, Mumbai’ a success.