CM to meet 64 international cos in Davos

NAGPUR: Chief minister Devendra Fadnavis has arranged meetings with 64 international companies to invite them to invest in the state as part of his ‘Make in Maharashtra’ mission. The CM is leaving for Davos, Switzerland, to attend the World Economic Forum on January 21.
“I will meet the representatives of the companies in between the forum sessions. Every day talks will be held with seven to eight companies.Only preliminary round of talks will be held there. No memoranda of understanding (MoUs) will be signed there. We will invite to come to Maharashtra for holding detailed talks,” the CM told TOI on Thursday evening. Fadnavis will also present two papers in the forum on (1) Sustainable food and water (2) Biotechnology.
Sources in CM office confirmed that one-to-one meetings had been lined up with representatives of at least 12 global firms, including Novartis, Bayer, General Electric, Volkswagon, Nomura, Cognizant, Schindler and Air Liquide.
Pravin Tapadia, industrialist and former president of Vidarbha Industries Association (VIA), said that foreign direct investment was vital if the CM’s aim of making the state’s GDP 25% of the country was to come true. “I believe Fadnavis can do it. My interaction with him has been very good. He is pro-industry and believes in delivering good governance. He has already started simplifying procedures and giving incentives to industries regarding power tariff, land, issuance of permits, etc.”
Logistics expert Shivkumar Rao also expressed confidence in Fadnavis. “I am 101% certain that he will be able to attract FDI. He has deep knowledge of local as well as global economy. His impressive personality will certainly be a plus point. The biggest advantage is that his focus is on ease of doing business. He believes in making industries enjoy the service of the government,” Rao said.
Chartered accountant Sameer Bakre said Fadnavis can pitch for investment in India on the grounds that there is growing demand in the country as against a down-trend in China. There may be economic slowdown elsewhere in the world but Indian demand is still robust which can be a case for more Greenfield investment by foreign players. The infrastructure growth coming up in the country can also be a case for pushing more investment.
The chief minister should pitch for FDI in areas like power and irrigation sectors which can push the overall economy. However, the government need not be very keen on bringing FDI in retail sector as the domestic players have enough potential to boost this business, said B C Bhartia, president of Confederation of All India Traders (CAIT). He said the country should be promoted as a tourism destination, especially for the untouched areas.