Maharashtra Announces Draft Policy For Defence Manufacturing; Eyes $5-Billion Investment
The Maharashtra government on Saturday announced a draft policy in the defence and aerospace sector to attract an investment of over $5 billion over the next five years.
"Maharashtra is the first state to frame a policy for defence manufacturing after private investment has been allowed," Fadnavis said at a press conference.
The highlight of the policy is a Rs 1,000-crore fund to help manufacturers in the defence sector. The state-run Maharashtra Industrial Development Corporation (MIDC), IDBI, SBI Capital will help set up the fund. The proposed investment is expected in Pune, Nashik, Nagpur, Ahmednagar and Aurangabad.
When we presented our draft policy before the investors and manufacturers at the ‘Defence and Aerospace: Make with Maharashtra' conference here today, their response was positive. We will finalise it soon after incorporating today's discussions.Devendra Fadnavis, Chief Minister, Maharashtra
The proposed policy would majorly help micro, small, and medium enterprises (MSMEs) of the state and if need be, the limit of the corpus could be increased, Fadnavis added.
Manufacturers in the private sector have made a few suggestions, including one on treating this sector as essential services, the chief minister said, adding that the state government will take a decision on this demand after consultations with Union Defence Minister Manohar Parrikar.
The government aims to create one lakh jobs in the state over this period under the policy, the Maharashtra chief minister added.
Parrikar said that this fund could be a game changer for the sector and aid the Make in Maharashtra initiative. One of the factors that would help Maharashtra get investment commitments in defence sector was that “the law and order in Maharashtra was good”, he added.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
