No industry will shift out of Maharashtra anymore, says CM Uddhav Thackeray to Corporate India

Responding to the concerns of the industrialists on lengthy approval cycles, infrastructure and ease of doing business, CM assured that steps will be taken so that no industry will be pushed to closure.

The proposal to start the largest steel industry in Vidarbha and the push to expand on the tourism sector was also discussed. This was the first such meeting that Uddhav Thackeray held with top corporates since he took over as the chief minister.

Ratan Tata, Deepak Parikh, Mukesh Ambani, Uday Kotak, Kumar Mangalam Birla, Anand Mahindra, Adi Godrej, Baba Kalyani, Sajjan Jindal, Gautam Singhania, Gopichand Hinduja, were among those who attended the two and a half-hour-long meeting. State industries minister Subhash Desai and minister Aditya Thackeray were also present for the meeting.

With a core focus on industries, the attention was also moved to discuss the need for investments on the health and education sectors. The new state cabinet will be presenting its first budget in March 2020.

Maharashtra’s economy is currently a little over $400 billion and the state has a debt burden of Rs 6.71 lakh crore. CMO’s media statement had highlighted that Maharashtra, through its well-developed economy, is among the largest contributors to India's GDP.

The state hosts industries from almost all sectors. The vision for Maharashtra is to become a trillion-dollar economy by 2025, contributing about one-fifth to the national economy.

After taking over, the new Maha Vikas Aghadi government had ordered a review of all big-ticket projects like the Mumbai-Ahmedabad Bullet Train, among other projects they called 'money-guzzlers.' Although, no project has been halted.

Subhash Desai said the progress of Tuesday's decisions would be reviewed within three months and such industry-government discussions will continue in future.

Industry honchos had met the Prime Minister Narendra Modi just yesterday to discuss the country’s current economic status and expectations from the upcoming Union Budget 2020.