The Maharashtra government has approved investment proposals worth ₹1.35 lakh crore across critical sectors, including semiconductors, solar components, EV parts, lithium-ion batteries, aerospace, defence, textiles, green steel, and gas-to-chemicals. This strategic push aims to boost industrial growth, attract high-tech manufacturing, and accelerate the state’s transition towards a green and self-reliant economy, creating jobs and enhancing infrastructure.
These incentivised projects, offering capital subsidies and power tariff concessions, aim to boost industrial growth and are projected to create approximately 1 lakh direct and indirect job opportunities, significantly enhancing employment and economic activity across the state.
Out of 19 major investment proposals evaluated for special incentives, 17 were approved, reflecting strong government support for high-impact sectors. These include semiconductor manufacturing, solar modules, EV components, lithium-ion batteries, aerospace, defence, textiles, green steel, and gas-to-chemicals. The approvals highlight a strategic push to boost employment, domestic manufacturing, and India’s self-reliance in advanced and green technologies.
The approved incentives encompass capital subsidies, power tariff concessions, interest subsidies, and industrial promotion assistance. Additional benefits include land ownership refunds, EPF contribution rebates, and various financial support measures aimed at enhancing industrial competitiveness, reducing operational costs, and encouraging investment across targeted sectors.
The government approved land acquisition and allocation for Reliance Industries Ltd’s upcoming projects in Dapchari and Vankas, Palghar district. Additionally, “Coal Gasification and Downstream Derivatives” were included as eligible products under the February 22, 2024, resolution, qualifying for special incentives to boost investment in cleaner energy and advanced materials manufacturing.
These high-impact projects are set to drive technological innovation, strengthen local supply chains, and boost research and development. MSMEs will gain significantly, while massive investments in semiconductors, steel, and electric vehicles will create jobs, stimulate local economies, and foster skill development, accelerating the state’s overall economic growth.
There are several companies with approved projects, which include
| Company Name | CMP |
| Reliance Industries Ltd | 1,515.40 |
| Paras Defence & Space Technologies | 1,701.75 |
| Hyundai Motor India | 2,090.20 |
| Reliance Infrastructure | 377.45 |
Written by Abhishek Singh
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