Make in India: Transparent proposals to bring investment in Mumbai -Governance Now

Make in India: Transparent proposals to bring investment in Mumbai

Clear, transparent, and bankable proposals can ensure foreign investment in Mumbai, says Maharashtra CM Fadnavis

Geetanjali Minhas | February 16, 2016 | Mumbai

#make in india #make in mumbai #devendra fadnavis

Maharashtra CM Devendra Fadnavis

An International Financial Services Centre (IFSC) will soon be established at the Bandra Kurla Complex in Mumbai, announced Maharashtra chief minister Devendra Fadnavis. The land for developing IFSC has been finalised. Though the planning process for establishing the IFSC has not yet been formalised, the state has already received a proposal to book the first 20 floors of the IFSC building.

Addressing a packed house at ‘Make in Mumbai’ event, part of Make in India week, Fadnavis talked about upgrading transport infrastructure of the city , creating affordable housing schemes, and transparent bureaucratic processes, which will further generate jobs and accelerate the economy. He even urged for a massive campaign to be launched for the ‘Built in Mumbai’ concept to develop affordable housing.

“Infrastructure will not only create an ecosystem for generating more jobs and a good life but will also add to ‘Make in Mumbai’ initiative. All citizen services like - municipal waste management, transport systems, sewerage, water treatment, etc., will create business opportunities,” he said.

Speaking about the comprehensive mobility plan for the entire Mumbai metropolitan region, Fadnavis said that the plan providing a combination of integrated and seamless infrastructure of roads, bridges, and transport modes like buses, railways, metros and mono rails would require funds of around Rs 4 lakh crore.

“A single mobility project will generate many jobs as we will create an ecosystem for manufacturing the components indigenously,” he added.

He highlighted that many foreign companies want to invest in India. But they want clear, transparent, and bankable proposals for that. If Mumbai can offer that, then an investment of Rs 4-5 lakh crore will come easily. He further said that many Chinese companies are not only keen to invest but are also interested in working here.

The Trans Harbour Link which was a mere dream for last 15-20 years will now soon become a reality as the government has got all the clearances necessary in past six months . “JICA (Japan International Cooperation Agency) has agreed to finance Rs 15,000 crore out of Rs 18,000 crore needed,” said Fadnavis.

Swadheen Kshatriya, chief secretary, Maharashtra said that work on the Navi Mumbai International Airport will begin soon, and assured that the first flight from the airport will take off in 2019. “The project report on Trans Harbour Link will be ready within 3-4 weeks and tendering process will commence in next 2-3 months,” he added.

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