Senior government sources also said that the chief minister had personally been keen on the tech giant setting up base in the Vidarbha region. (File Photo)
Maharashtra, one of the most industrialised states in the country, has decided to provide more fiscal incentives to electronics manufacturing companies setting up units in the industrially backward regions of Vidarbha and Marathwada.
The state cabinet on Tuesday revised its promotion policy for electronics fabrication companies, assuring them a capital subsidy of up to 20 per cent of the fixed expenditure for investments in these regions. The previously offered capital subsidy was 15 per cent.
According to the industry department estimates, a fabrication unit of full capacity would guarantee an investment of Rs 60,000 crore and create an employment opportunity for at least 32,000 people.
Maharashtra had earlier entered into a MoU with tech giant Foxconn for a $5 billion investment in the state, but it is yet to materialise. Senior government sources also said that the chief minister had personally been keen on the tech giant setting up base in the Vidarbha region.
Meanwhile, the state cabinet on Tuesday took a decision to use the Centre’s e-marketplace portal for goods procurement at more competitive rates.
