Daijiworld Media Network - Mumbai

Mumbai, May 26: In a significant move aimed at accelerating industrial growth and employment generation, Maharashtra Chief Minister Devendra Fadnavis has approved special incentives for five mega and ultra-mega industrial projects worth approximately Rs 89,731 crore.

The decision was taken during a meeting of the Cabinet Subcommittee on the Industries Department, chaired by the Chief Minister.

According to officials, the approved projects are expected to generate nearly 20,000 direct and indirect jobs, strengthening Maharashtra’s industrial base across regions such as Vidarbha, Marathwada and Nashik.

The state government said the initiative aligns with its broader industrial policy under the Package Scheme of Incentives, which offers concessions to attract large-scale private investment and promote balanced regional development.

A Cabinet Subcommittee was formed under the Chief Minister to evaluate and clear proposals for mega and ultra-mega projects, with a focus on fast-tracking investments in strategic sectors.

The approved projects span high-tech and future-oriented industries, including coal gasification and downstream products, solar cell modules, ingot and wafer panels, electrical steel, PET tyre cord, and synthetic graphite anode materials.

Officials said these investments will significantly strengthen Maharashtra’s presence in advanced manufacturing and emerging technologies.

Beyond direct job creation, the projects are expected to stimulate ancillary industries, local supply chains and small and medium enterprises (MSMEs), while also encouraging research and development activities.

The government also highlighted that the initiative will generate new opportunities for skill development and technical training, helping prepare local youth for employment in advanced industrial sectors.

Authorities believe the move will further enhance Maharashtra’s attractiveness as a preferred destination for domestic and global investors.