Maharashtra Govt to ink 12 FDIs to revive economy amid Covid crisis

Maharashtra Chief Minister Uddhav Thackeray

For reviving the state’s economy that is impacted due to infused lockdown as a result of the corona scare, Maharashtra government said that 12 large memorandums of understanding (MOU’s)  will be inked on June 15, 2020, with companies from across the globe such as  US, China, South Korea, Singapore, and India in the presence of Chief Minister Uddhav Thackeray and Minister for Industries Subhash Desai.

Maharashtra Chief Minister Uddhav ThackerayThe MOUs are aimed at attracting foreign direct investments (FDI) in Maharashtra, with 1.04 lakh covid-19 cases. Maharashtra is the country’s worst-affected state due to Covid-19.

Global business firms and bilateral investment agencies will be joining this session via video conference from 6:30 pm onwards on 15 June, said the government in a statement.

Also Read: COVID-19 – Risks for the BFSI Sector in India

“The state has also seen a significant uptick in investment intentions from countries such as Germany, Japan, Russia and other major FDI source countries for India. The investments represent a diversity of sectors including – engineering, automobiles, food processing, ESDM, IT/ITeS and many others,” said the government.

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