Mumbai, March 25 (IANS) Maharashtra Cabinet Sub-Committee headed by Chief Minister Devendra Fadnavis on Tuesday gave approval for providing additional special incentives for 17 projects based on the thrust sector and advanced technology policies, along with the collective incentive scheme.

The government had signed MoUs for these projects during the WEF summit at Davos held in January. Another two projects will receive special incentives based on their investment.

A total investment of Rs 3,92,056 crore will come to the state from these 19 projects, leading to the creation of 1,11,725 direct jobs and an estimated 2.5 to 3 lakh indirect jobs.

Proposals for special incentives for semiconductor chips and wafers, electric vehicles, lithium-ion batteries, aerospace and defense equipment manufacturing, and green steel projects were considered in the meeting.

These projects will promote technical innovations, research, and development, and contribute to the development of a strong local supply chain, benefiting small, medium, and micro industries in Marathwada, said the Chief Minister.

In the meeting, a total of 21 issues were discussed. Based on the thrust sector and advanced technology policies, amendments were made to the government decision dated February 22, 2024, allowing for additional special incentives for ultra-large industry components under the collective incentive scheme, as well as special incentives for two other projects based on their investments.

The state has approved a total of 22 projects, increasing the limit from 10 projects to 22, considering the new investments and employment opportunities expected in the state.

According to the Chief Minister’s Office, out of the 51 memoranda of understanding related to the Department of Industry at Davos 2025, 17 projects were approved by the Cabinet Sub-Committee.

In addition, nine projects were granted approval in the last two months, totaling 26 projects with government action completed within two months. This will result in an investment of Rs 6 lakh crore in the state, generating 2 lakh direct jobs and 3 lakh indirect jobs.

The Chief Minister said that the use of electric vehicles will significantly reduce greenhouse gas emissions, contributing to investments in semiconductor, steel, and electric vehicle manufacturing projects.

This will lead to employment generation, benefiting the local economy and promoting research and development. Micro and small industries will also benefit from this in terms of employment potential and skill development in emerging technologies.

–IANS

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