rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » US biz keen to invest in Maharashtra

US biz keen to invest in Maharashtra

July 04, 2003 16:49 IST

Maharashtra Chief Minister Sushilkumar Shinde has said that most of the bureaucratic hurdles for investments from Non-Resident Indians and US businessmen have been removed.

"A golden triangle comprising Mumbai, Navi Mumbai, Thane belt, Pune and Nashik has been formed and a nodal agency has been set up to channelise investments. Also, a new environment is now in place in Maharashtra," Shinde said, addressing a community reception organised by the Indian American Forum for Political Education, New York City chapter, on Wednesday night.

It was also announced on the occasion that a trade delegation would visit Mumbai, New Delhi and Bangalore from neighboring New Jersey state.

Governor James E McGreevey may accompany the delegation, a state official in New Jersey said.

At another function held in New York earlier in the week, Shinde appreciated the contributions made by NRIs in the development of their motherland.

''The world will have to take note of India. And in 20 years from now, we will be able to compete with the advanced nations,'' he said.

''Thanks to the wealth of talent we have, both in India and abroad, India has emerged a world leader in information technology,'' Shinde said.

Shinde visited Los Angeles, San Jose, Santa Clara and other US cities.

Shinde said that American entrepreneurs had shown keen interest to invest in the special economic zone at Navi Mumbai, and Maharashtra's biotech, and business process outsourcing, and infotech sectors.

At the Manhattan India Roundtable meeting, jointly organised by the US-India Business Council and the United States Council for International Business in New York on July 2, Shinde pitched strongly for the state.

Maharashtra is the best investment destination in the country, he said, and explained the state's new IT-ITES policy.

The high-level delegation to the US to woo overseas investment was led by Shinde and comprised Maharashtra Minister for Industries Patangrao Kadam, Minister of State for Industries Rajesh Tope, state chief secretary Ajit Nimbalkar, principal secretary (finance) A K D Jadhav; principal secretary (industries) V S Dhumal and other top state officials.

The meeting was attended by for US ambassador to India Frank Wisner, AIG vice chairman Thomas Niles, USCIB president Raju Panjwani, Ranbaxy USA managing director Dipak Chattraj, Consulate General of India Prathamesh Rath, USIBC executive director Michael Clark, USIBC director Rohina Bhandari and other prominent businessmen.

Wisner welcomed the Maharashtra chief minister and other members of the Indian delegation and gave details of the Maharashtra's industrial and financial strength. He also explained the investments made by AIG in the Maharashtra and expressed interest in the opportunities in the real estate sector in Mumbai.

Clark showed keen interest in the state's biotech sector. He stressed on the need of quick response to various investor's queries.

Shinde is interested in making USIBC a forum for continuously promoting business interests of US-based companies. He said the Maharashtra Industrial Development Corporation would liaise with USIBC for this purpose.

Source: