The report also stated that the total FDI inflow into Maharashtra from April 2020 to September 2021 is Rs 9,59,746 cr. IT IS largely the services and the industry sector that are set to drive the growth of the state’s economy in the coming financial year, as per the economic survey released on Tuesday. While Maharashtra’s economy is set to grow by 12.1 per cent, this growth is set to be fuelled by the services sector which is expected to log a growth of 13.5 per cent, the highest in a decade. The previous highest growth notched by the services sector in the last decade was in 2014-15 when it was pegged at 9.1 per cent.
The industry sector is also expected to grow by 11.9 per cent which, again, is the highest in a decade. The previous highest growth registered by the sector was in 2014-15 when it registered a 9.1 per cent.
Since liberalisation in August 1991, up to November 2021, 21,216 industrial projects with an investment of Rs 15,09,811 crore were approved in the state. During 2021, up to November, 258 projects with proposed investment of Rs 74,368 crore were registered in the state. The FDI inflow in the state since April 2000 to September 2021 was Rs 9,59,746 crore, which was 28.2 per cent of total FDI inflows at all-India level.
During June 2020 to December 2021, the state has attracted investment proposals of Rs 1.88 lakh crore with 3.34 lakh expected employment under Magnetic Maharashtra 2.0. Under Maharashtra Electric Vehicle Promotion Policy 2018, proposals have been received from five electric vehicle manufacturing units and one battery manufacturing unit with proposed investment of Rs 8,420 crore and expected employment of 9,500 individuals.
The survey states that there were 10,785 startups in the state at the end of October 2021. Under the Magnetic Maharashtra 2.0 initiative, between June 2020 and December 2021, the state has attracted investment proposals of Rs 1.88 lakh crore with expected employment over 3.34 lakh. IT (22 per cent), data centres (18 per cent), solar & renewable energy (17 per cent), steel manufacturing (15 per cent), logistics (11 per cent) and automobile & its components (5 per cent) are the key sectors that attracted investments.
The report also stated that the total FDI inflow into Maharashtra from April 2020 to September 2021 is Rs 9,59,746 cr.
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