Maharashtra government has approved an investment of ₹1.17 lakh crore in high-tech projects, which is expected to generate around 29,000 jobs. This significant investment aims to transform Maharashtra into a leading hub for semiconductor and electric vehicle (EV) manufacturing.
Key Highlights of the Investment
1.Semiconductor Manufacturing: One of the major projects includes a high-technology semiconductor manufacturing plant by Tower Semiconductor in collaboration with the Adani Group. This project, to be set up in Panvel, Raigad district, will see an investment of ₹83,947 crore and is expected to create 15,000 jobs.
2.Electric Vehicle Production: Toyota Kirloskar Motor will establish an EV manufacturing project in Chhatrapati Sambhajinagar (Aurangabad) with an investment of ₹21,273 crore, creating 12,000 jobs. Additionally, Skoda Auto Volkswagen India will invest ₹12,000 crore in Pune for electric and hybrid vehicle production, generating over 1,000 jobs.
3.Textile Industry: Raymond Luxury Cottons will set up a mega project for spinning, yarn dyeing, and weaving in Amravati district, with an investment of ₹188 crore, creating 550 jobs.
Government’s Vision
Chief Minister Eknath Shinde emphasized the importance of these projects in boosting Maharashtra’s economy and positioning the state as a leader in high-tech manufacturing. The approved investments will not only enhance semiconductor and EV manufacturing but also drive technological innovation, research, and development. This will significantly benefit micro, small, and medium enterprises (MSMEs) and provide training and skill development opportunities for local workers.
Impact on Employment and Economy
The creation of 29,000 jobs through these projects will have a substantial impact on the local economy. The investments are expected to foster a robust local supply chain, enhance employability, and improve skills in emerging technologies. This initiative aligns with the government’s vision of modernizing the industrial sector and promoting sustainable economic growth.
The approval of ₹1.17 lakh crore investment in high-tech projects marks a pivotal moment for Maharashtra. By focusing on semiconductor and EV manufacturing, the state is set to become a major player in these industries. The resulting job creation and economic benefits will contribute to the overall prosperity and development of Maharashtra.
