The six-day business expo Make in India Week has generated investment commitments worth Rs 15.2 lakh crore for the country, the department of industrial policy and promotion (DIPP) said on Thursday at the event’s closing ceremony. Around 30% of these are foreign investment commitments.
Maharashtra generated more than half the total tally, inking MoUs worth nearly Rs 8 lakh crore, expected to generate 30 lakh jobs. Within the state, the Konkan division, which includes the Mumbai Metropolitan Region, cornered the largest share of MoUs, worth over Rs 3.25 lakh crore. The deprived regions of Vidarbha and Marathwada generated MoUs worth Rs 1.5 lakh crore. Deals for Western Maharashtra and Khandesh totalled Rs 50,000 crore and Rs 25,000 crore.
The big question is how many of these commitments will translate into actual projects. “We expect the conversion rate to be over 80% in the next three years. These are investment commitments, which means pre-clearance work has been done,” said DIPP secretary Amitabh Kant. Besides manufacturing, it had also focussed on innovation and start-ups and created a platform where corporates, policymakers and political leaders could converge, he said.
Considered the largest multi-sector business fair in Asia, Make In India Week was aimed at showcasing India’s manufacturing sector. It generated 8.9 lakh visitors across 102 countries, the DIPP said. It played host to 20 foreign dignitaries, including two prime ministers. Over 9,000 Indian companies and over 2,000 foreign companies participated.
