‘Magnetic Maharashtra’ Convergence Summit 2018 (Download PDF)

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Magnetic Maharashtra Convergence Summit 2018 is Maharashtra’s first Global Investors Summit. It is being regarded as one of the biggest such events, especially on the lines of the ‘Make In India’.

Image of ‘Magnetic Maharashtra’ Convergence Summit 2018

Image of ‘Magnetic Maharashtra’ Convergence Summit 2018

Image of ‘Magnetic Maharashtra’ Convergence Summit 2018

  • It is being run with the tagline #MadeForBusiness.
  • The summit is being held from February 18 to 20. The exhibition at the summit will be held from February 18 to 23.

What is the State Hoping from this Summit?

  • Investments of Rs. 10 lakh crore (almost $156 billion) with as many as 5, 000 Memorandums of Agreement to generate employment opportunities for nearly 35 lakh people in the state.

What Was the First Order or Investment under this Summit?

  • In its first order of business, foundation of Navi Mumbai International Airport which is being developed to share the burden of the Chhatrapati Shivaji International Airport.
  • Reliance investment of Rs. 60, 000 crore in the state to develop Integrated Industrial Area in Maharashtra with a coalition of global companies to make the state the “Cradle of fourth industrial revolution. “

What Was Displayed by the Maharashtra Government in the Summit?

Flagship projects of the Maharashtra government that were displayed are

  • The Mumbai Metro

  • Mumbai-Nagpur Super Communication Expressway

  • Mumbai Coastal Road

  • Mumbai Trans-Harbour Link

  • The Navi Mumbai International Airport

Renowned Participants

Among industry leaders slated to participate in the summit are

  • Mukesh Ambani, Chairman and MD, Reliance Industries Ltd.

  • Richard Branson of Virgin Atlantic

  • Tonino Lamborghini SpA President Tonino Lamborghini

  • Edward Monser, President, Emerson Electric Co,

  • Hande Diltemiz, country manager, Global production, India, H&M

  • Cho Hyun-Joon, chairman, Hyosung Group

  • Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World, among others.

  • NITI Aayog CEO Amitabh Kant will also be seen at the event

Foreign Representatives

Representatives of foreign governments such as

  • Karin Roding, Sweden’s State Secretary to the Minister and Bardish Chagger

  • Canada’s Minister of Small Business and Tourism, Waterloo

Key Facts

  • The Maharashtra government cleared the decks for India’s first individual aircraft maker Captain Amol Yadav to set up an indigenous factory for manufacturing 20-seater aircraft in Palghar in a Rs. 35, 000 crore project

  • The agreements signed were in the field of textiles, engineering, food processing, defence manufacturing and electric vehicles

  • The summit was divided in four verticals based on the state’s strengths and priorities—future industry comprising electric vehicles, renewables, electronics, defence manufacturing, artificial intelligence, genomics, and internet of things and smart cities; employment; infrastructure; and sustainability.

  • Develop Maharashtra as a gateway for industrial investment in India and prepare a roadmap towards making Maharashtra a trillion dollar economy by 2025.

  • The State government to establish defence hubs in Pune, Nagpur, Ahmednagar, Nashik and Aurangabad.

- Published/Last Modified on: May 15, 2018

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