By Quaid NajmMumbai 13th September : Just six months after Maharashtra claimed to have defeated at least five states to win Vedanta Group-Foxconns colossal proposal of Rs 2.


06 lakh crore investment plan the project has been handed over to Gujarat.


The news on Tuesday caused Chief Minister Eknath Shindes team in a state of shock even when the Deputy Chief Minister Devendra Fadnavis headed for Russia and opposition Maha Vikas Aghadi (MVA) was furious at the loss of the state.The Vedanta Group-Foxconn partnership in the semiconductor chips of the sunrise and display fabrications industry in Pune could have created more than 200k jobs, both direct and indirect, for the state.

The MoU for the deal, the largest investment of its kind in Maharashtra — sought-after by Gujarat, Tamil Nadu, Karnataka, Telangana and Himachal Pradesh -it was signed in the presence of Shinde and Fadnavis in the middle of July.MVA members such as Nationalist Congress Party state President Jayant Patil, Shiv Senas former Minister Aditya Thackeray, and Congress Chief spokesperson Atul Londhe, slammed the Shinde Fadnavis duo for the demise of the famous project.


It was followed by an Vedanta team inspection of Pune in February 2022 to establish its Pune facility.According to an official announcement in July the government had stated that the mega-project could create approximately 200k direct and indirect jobs as well as all revenues of GST of Rs 125,230 crore.


This includes Rs 37500 crore State GST and the remainder in the form of Inter-State GST, which is 88,079.On the other hand, Maharashtra would provide a array of incentives, including a 25 per percentage capital aid, subventions for power and water supply as well as land with concessional rates and Shinde-Fadnavis has promised that all other assistance would be provided to the project would be in place without a hitch in three years.


The Indian semiconductor industry is predicted to grow four times to more than $60 billion in the next four years.Fadnavis has said that the state was determined that this industry , which is currently accessible in only four countries is to be brought to India.


In addition, when he was Chief Minister of India, Fadnavis has visited the Foxconn plant in China in 2015, where the initial talks took place to get the companys electronics to India However, the process was delayed due to tensions between India and China and then the Covid-19 pandemic.

By Desk

Leave a Reply

Your email address will not be published. Required fields are marked *