Magnetic Maharashtra: Maharashtra's first global investors summit

UPS Madan

Magnetic Maharashtra summit to kick off from tomorrow

The government, he said, is working in the times of disruption and discontent.

The PM hinted that India's image, which had been damaged by a few scams and policy paralysis, has drastically changed over the past four years and the country has become a favoured destination for investors.

Mumbai: The stage is set for the ambitious three-day long "Magnetic Maharashtra: Convergence 2018" conclave which will be inaugurated by Prime Minister Narendra Modi here on Sunday, officials said.

Speaking at the Global Investors' Summit, PM Modi said the government's budget reforms have created a new work culture and are transforming the socio-economic landscape of the country. "The Centre proposes "Housing for All" by 2022 and "Power for All" by 2019".

He added that this year's budget is focused on clean fuel and health for all.

"Hon'ble PM laid emphasis on the government's efforts, saying that in the last three years 1,400 laws had been repealed and the new ones were being written with the intent of simplifying the overly complicated system".

The prime minister further stressed on the importance of improvement in "ease of living" and said it empowers people. We've already achieved half of this in the first two days. Only then can we do justice to India's vast demographic dividend, " the PM noted.

Ahead of the three-day summit, the state had set a target of signing almost 4,000 MoUs that would create 3.5 million jobs.

"Magnetic Maharashtra is an example of the cooperative competitive federalism and in turn the national growth. Our reforms in budget making and presentation have created a new work culture and are transforming the socio-economic landscape", he said.

Prime Minister Modi also credited the Maharashtra government for their contribution in improving India's rank in connection easily of doing business. The summit is aiming fresh investment in the state after it bagged 51 per cent of total Foreign Direct Investment (FDI) in India.

According to Modi, Mumbai is a maximum city with maximum aspiration. The trans harbour link, Navi Mumbai airport and metro projects will bring development.

Modi also praised the Fadnavis government for its aspirations of becoming a trillion dollar economy, saying that he had complete faith in its ability to meet the target. The government will also increase public infrastructure and create growth corridors to unlock potential of underdeveloped region, he said.

Prime Minister Narendra Modi took to Twitter to share his day plan of the event.

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