The US continues to be single largest foreign investor in Maharashtra.
The Union government approved 709 foreign direct investment proposals in the state between 1991 and April 31, 2003, which were worth over Rs 12,093 crore (Rs 120.93 billion). All these investment plans were from the US.
Maharashtra minister for industry Patangrao Kadam appraised the US consul general Angus T Simmons about this fact at a meeting last week.
A senior government official said: "The data on the approvals of these projects were forwarded to us by the Union government. Of the projects we have been able to monitor 540 at our end (Maharashtra)."
Of the projects approved, 268 have been implemented entailing a FDI infusion of Rs 7,311 crore (Rs 73.11 billion). Three projects worth Rs 40 crore (Rs 400 million) are currently under implementation.
Around 170 projects entailing Rs 250 crore (Rs 2.5 billion) FDI are yet to be monitored by the state.
"Monitoring of the projects approved by the Centre involves two areas. On the one hand we establish contact and obtain information from the individual promoters of the project regarding the progress of the project (land procurement, environmental clearances, inward remittances). We also involve ourselves in area such as catalysing the implementation of the project through our field machinery," the official said.
The 709 projects, also inclusive of expansion plans of existing projects such as Asian Paints, include South Asia Tyres, Cabbot India, the Rs 1,000 crore (Rs 10 billion) Indo-Rama Synthetics set up in Nagpur and the Enron-promoted Dabhol Power Company.
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