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Opportunities In Maharashtra

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Investment Policies and Incentives

The Government of Maharashtra has made several policy announcements in order to set up the right kind of business climate in the State. These policy documents aim to motivate investors to invest into the various sectors of the State and thereby contribute to the overall development of the economy. They are endeavoured to remove various road blocks which hampers the industrial map of the State. They also envisage various incentives and schemes for the investors.

Vision & Mission

The State aims to achieve economic development that should help in reducing the percentage of population living below the poverty line by 50 per cent by 2010. Also, the state aims that Human Development Index (HDI) of Maharashtra should be comparable with the best among the Asian countries. In order to fulfil this vision, the State's growth strategy focuses on the following elements:

Create employment opportunities by developing the services sector
Provide basic infrastructure and encourage private sector participation in infrastructure provision
Provide stability to businesses to encourage investment and growth

The Government intends to focus on select industries and sectors to implement its growth strategy.

Industry / sector
Objective
Existing industries - chemicals, petroleum, textiles, automobiles and auto components, engineering To sustain existing industrial momentum
Financial services, IT and ITES Generate large scale employment opportunities
Tourism and biotechnology Strengthen the services sector base of the state

Based on the identified strategic framework and the thrust sectors, the State has identified necessary actions to achieve the desired targets. The following section discusses some of the recent developments.