Meeting with CEO, Maharashtra Industrial Development Corporation
The state of Maharashtra stands out when it comes to engagement with foreign investors. It continues to be popular with UK businesses, which have invested more in Maharashtra than in any other state in India in the last twenty years.
Following the fascinating and important discussion held with the Hon’ble Chief Minister of Maharashtra on the margins of the Magnetic Maharashtra Investor Summit in February 2018, the UK India Business Council took a delegation of UK manufacturing businesses to the state to meet Mr Sethi, CEO of the the Maharashtra Industrial Development Corporation (MIDC).
As well as applauding the Government of Maharashtra for its efforts in making their state an investor friendly destination, the delegates presented their ventures and reiterated their commitment to continue investments and create employment opportunities in the advanced manufacturing sector in the state.
Several issues were also taken up during the meeting, such as GST subsidy continuity and discharging offset conditions of a defence contract. Participants suggested that Maharashtra should look at other state models, and work closely with the Central government to solve some of these issues.
Welcoming the delegation, MIDC assured businesses of its continued support to them. It said they would work with relevant stakeholders in the system to ensure the ease of doing business in Maharashtra.
Delegates were keen to take up a Maharashtra Government programme which would enable companies – both UK and Indian – to start a shared skilling centre for imparting industrial safety training to workers.
As industrial and commercial partnerships between the UK and India grow, such state-level delegations are vital in building relationships between government departments and businesses, making it easier to do business in that state.
Moving forward, UKIBC will look to take additional sector-specific delegations to Maharashtra – and other states in India – to help UK businesses expand their footprints across the country.