'Magnetic Maharashtra' investment summit targets to attract Rs 10 lakh crore

While most of the investments commitment of Rs eight lakh crore from the 'Make in India' event in Mumbai during February 2016 are yet to fructify, the State of Maharashtra is gearing up for attracting another round of huge investments.

A maiden Global Investors Summit organised by the Government of Maharashtra, the "Magnetic Maharashtra: Convergence 2018", will be held at the MMRDA grounds in Mumbai from February 18-20.

Apart from the Prime Minister Narendra Modi, business leaders like Richard Branson of Virgin Atlantic, Tonino Lamborghini, Lamborghini, Edward Monser, President, Emerson Electric Co, Hande Diltemiz, country manager, Global production, India, H&M, Cho Hyun-Joon, chairman, Hyosung Group, Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World, Mukesh Ambani, Chairman and MD, Reliance Industries are expected to attend the event.

"We are eyeing Rs 10 lakh crore of investment pacts with domestic and global investors and plan to sign approximately 4,500 MoUs and our dream of Maharashtra becoming a trillion-dollar economy is going to be a reality soon." Maharashtra Industries Minister Subhash Desai said at a press conference to announce the event.

At the event curated to showcase the state's industrial prowess and investment-readiness, 47 people from different sectors will be awarded for their meritorious performance. The list will be drawn from the state's top exporters and companies in the Information Technology space, said Desai.

The Summit and an exhibition will be organised by the Maharashtra Industrial Development Corporation (MIDC), with Confederation of Indian Industry (CII) as the national partner and KPMG as the knowledge partner.