In a shot in the arm for the industry sector in Maharashtra, the state government has cleared four mega high-technology projects worth Rs 1.17 lakh crore. The projects are likely to generate employment opportunities for almost 29,000 people in the backward regions of Marathwada, Vidarbha, Pune, and Panvel near Mumbai. The nod was given at Thursday’s meeting of the cabinet subcommittee of the industries department.
Semiconductor Manufacturing and Electric Vehicle Projects
The major projects include a mega semiconductor manufacturing project by Tower Semiconductor Company in association with the Adani Group. Location: Panvel, Raigad district, with an investment of Rs 58,763 crore in the first phase and Rs 25,184 crore in the second phase, amounting to Rs 83,947 crore. This single semiconductor facility is expected to employ 15,000 people. The total investment forms part of the ambitious plan to establish Maharashtra as a semiconductor and electric vehicle manufacturing hub.
The state will also receive the biggest share in electric vehicle manufacturing. Skoda Auto Volkswagen India Pvt Ltd has been selected to set up an electric vehicle production facility in Pune with an investment of Rs 12,000 crore, creating 1,000 jobs.
The other major investment in the sector of EVs is proposed by Toyota Kirloskar Motor Company, which aims at setting up an establishment with an investment of Rs 21,273 crore at Chhatrapati Sambhajinagar (formerly Aurangabad). It will provide as many as 12,000 job opportunities and will also ensure a boost to the MSME sector in the Marathwada region. This production of electric vehicles will be aptly aligned with the state’s goals of sustainability through reduced emissions of greenhouse gases.
Boost to MSMEs and Skill Development
Chief Minister Eknath Shinde underlined the projects’ impact on larger ramifications for Maharashtra’s industrial ecosystem. These projects, said Shinde, would give a fillip to creating local supply chains and spurring technical innovation, research, and development. He went on further to underline that these would leave an imprint on the MSME sector, specially in the Marathwada region, with small businesses thriving with the growing requirement of spares and ancillary services.
He further explained that the coming wave of high-technology industries offers a very great opportunity for the local manpower to acquire new skills and access training programs, enhancing employability in advanced sectors such as semiconductors and electrical vehicles.
The government’s approach is to prepare the local manpower through training and build their skills, but with an upgraded level of general skill required for the emerging technologies. This concentration on human capital will ensure that Maharashtra remains the leader in the EV and semiconductor industries.
Development in Textile Sector
The textile sector in the state is also to be similarly highlighted, along with the projects for semiconductors and EV manufacturing. Raymond Luxury Cottons will invest Rs 188 crore to set up a mega textile project at Amravati. The plant will produce various value-added products such as spinning, yarn dyeing and weaving cotton and jute. It will be set up at Nandgaon Peth MIDC and will provide jobs to 550 persons. This project is in tune with the government’s policy on textiles and also part of revival package for the industry in the region.
Industries Continue to Come to the State
This latest round of project approvals only validates the state’s persistent endeavors to attract mega investments. In its cabinet subcommittee meeting held in July, Maharashtra had approved projects worth Rs 80,000 crore. Over the last two months, the government had given its nod to projects amounting to Rs 2 lakh crore and generating 35,000 jobs.
This is in addition to the state’s first semiconductor manufacturing project led by RRP Electronics, which was approved in the meeting held on July 30. Another major development hailed the state’s dream to be in the forefront of the global semiconductor supply chain.
The recent clearance accorded to the Toyota Kirloskar EV project at Chhatrapati Sambhajinagar is the second such greenlight in the region, following a similar clearance accorded to an electric vehicle manufacturing plant by JSW Green Mobility. The state is thus consolidating its position as one of the emerging hubs for electric vehicle manufacturing in India.
Conclusion
The approval for these mega projects by the Maharashtra government is a huge step forward to position the state as a key player both in semiconductor manufacturing and electric vehicles. Along with large investments in such high-tech sectors, if the state invests simultaneously in the creation of jobs and development of skills, rapid industrial growth will be witnessed. The projects will provide fillip to the local economy as well as emerge Maharashtra as a frontrunner in India’s transition towards green energy and modern technology.
Source:
Chief Minister’s Office, Government of Maharashtra.