Maharashtra Cabinet Approves 325 Pending Industrial Proposals Worth ₹1 Lakh Crore, To Create Over 93,000 Jobs

Mumbai: The Maharashtra Cabinet today approved 325 pending industrial proposals, which had been on hold due to the expiration of earlier policy periods. The approval is expected to attract investments worth Rs 1,00,655.96 crore and generate 93,317 new jobs across sectors. It is considered as a significant boost to the state's industrial growth.

These proposals fall under various expired policy frameworks, including Maharashtra Electronics Policy 2016 (including incentives for FAB projects), Maharashtra Space and Defense Manufacturing Policy 2018,Policy on Readymade Garments, Gems & Jewellery, Microelectronics and Engineering Components 2018.

Although the validity of these policies has ended, the state government is in the process of drafting new updated policies. Meanwhile, the Finance Department has granted permission to approve pending proposals under the expired policies, provided they contribute significantly to the state's economic development.

Key Approvals by Sector:

Electronics Sector (Maharashtra Electronics Policy 2016): A total of 313 proposals were approved, with an expected investment of Rs 42,925.96 crore and 43,242 jobs.

Space & Defense Manufacturing (2018 Policy): 10 proposals were approved, set to bring in Rs 56,730 crore in investment and create 15,075 jobs.

Readymade Garments, Gems & Jewellery, Microelectronics & Engineering Components (2018 Policy): 2 proposals were approved, with projected investments of Rs 1,000 crore and 35,000 jobs.