Maharashtra attracted new investment projects worth Rs 3,92,557 crore during 2022-23 as opposed to the investment projects worth Rs 2,28,849 crore in 2021-22, according to the study conducted by the MSME Export Promotion Council jointly with the Confederation of Organic Food Producers & Marketing Agencies.
According to Dr D S Rawat, the Chairman of New Delhi-based MSME Export Promotion Council, the government should form a high powered committee to expedite the implementation of the projects to avoid the cost escalation.
Dr Rawat, former Secretary General of ASSOCHAM, said that outstanding investment projects were worth Rs 28,88,728 crore and Rs.17,37,631 crore worth projects were under implementation in 2022-23, as per the the CMIE data.
The study noted that in 2022-23, Rs 14,00,58 core worth of projects were completed and Rs 27,167 crore worth projects revived as against to Rs 65,026 crore worth completed and Rs 6,863 crore worth revived during 2021-22.
During 2018-19 to 2022-23, the total new investment projects received by Maharashtra was worth Rs 11,19,975 crore and Rs 33,40,162 crore worth of projects were completed.
The private sector announced the new investment projects in 2022-23 were worth Rs 287433 crore as against Rs 1,74,380 crore in 2021-22.
Projects worth Rs 65,460 crore and Rs 47856 crore were completed respectively.
It was noted that Maharashtra has been one of the leading states in IT & ITeS sector accounting for more than 20 per cent of the country’s software exports. Mumbai being India’s ‘financial capital’ and ‘entertainment capital’, is likely to be emerging as ‘tech capital’ over a period of time.
The study noted that there has been a growth in the total credit disbursed by the banks amounting to Rs 33,32,738 crore in 2022-23 as against Rs 27,17,399 crore in 2021-22.
In 2022-23, the credit disbursed were—agriculture: Rs.121765 crore, industry: Rs 9,38,588 crore, transport operators: Rs 68,578 core, professional & other services: Rs.2,22,428 crore, personal loans: Rs.7,55,848 crore, trade: Rs.2,72,315 core, finance: Rs 8,04,635 crore and miscellaneous: Rs 1,48,579 crore.
The state has 20.43 lakh MSMEs registered under Udyam registration portal providing employment to 108.67 lakh people, significant number of special export promotion zones.
In addition, Maharashtra has a large base of skilled and industrial labour, making it ideal destination for knowledge based and manufacturing sectors.
The state has 20.43 lakh MSMEs registered under Udyam registration portal providing employment to 108.67 lakh people, significant number of special export promotion zones.
In addition, Maharashtra has large base of skilled and industrial labour, making it ideal destination for knowledge based and manufacturing sectors.
The state is second most industrialised state contributing 20 per cent of national industrial output; almost 46 per cent of the GSDP is contributed by industry. The economy of the state with a gross state domestic product of Rs.35.27 trillion (US$440 billion) and GSDP per capita of Rs.242247 (US$3000) is the single largest contributor to India’s economy with a share of 14 per cent in all-India nominal GDP.
