Industrial `golden triangle' in the offing

Maharashtra chief minister Sushilkumar Shinde has said that the Mumbai-Pune-Nashik area will soon be recognised as the Golden Triangle industrial belt of the state and occupy a prominent place on the world map of industries.

Addressing a business meeting held in New York on Friday, Shinde said: "Best facilities on par with the private sector are being created in these areas. Our effort is to make the Golden Triangle as the focus point of tomorrow's developed Maharashtra."

He said that a single-window system has been introduced to ensure that red-tapism does not encumber investors.

"Investors coming to Maharashtra with proposals exceeding Rs 500 crore (Rs 5 billion) will be considered as `state guests'," he said. He was speaking at the inaugural function of the 11th convention of the Greater Maharashtra Mandal held at New York on Friday.

A delegation led by Shinde is on a 15-day United States-visit to attract investments into Maharashtra. During the visit, the team will also meet several personalities in the field of bio-technology.

Shinde is accompanied by Patangrao Kadam, state minister for industries; Rajesh Tope, minister of state for industries; Ajit Nimbalkar, chief secretary; Vishvas Dhumal, principal secretary (industries); AKD Jadhav, principal finance secretary, and Bhushan Gagrani, joint chief executive officer, Maharashtra Industrial Development Corporation.

Purnendu Chatterjee, head of the TCG Group, which manages over $1.5 billion worth of investments, led the US business team. The US business team comprised leaders from varying spheres of banking, financial services, consulting, technology, bio-technology and academicians.

Chatterjee's TCG had recently inked an agreement with the MIDC to jointly establish a live science park at Hinjawadi near Pune. Work on the 136-acre park is progressing, the meeting was informed. Chatterjee said: "The TCG Group makes long-term investments with a focus on technology and life science sectors."

According to a state government press release, a keen interest was evinced by participants in the bio-tech parks, the Navi Mumbai special economic zone and the business process outsourcing sectors in the state.

Shinde appealed to the non-resident Indians (hailing from Maharashta) to take over the role of ambassadors of the state in a form of social marketing.  He said that for the overall development of the state and in order to give justice to weaker sections and disadvantaged segments in the society, an initiative called `Project unite' was being taken up.

"According to Amartya Sen, the main object of the Budget has to be social development. The Maharashtra Budget for 2003-04 was prepared in tune with this,' he said.

"Under `Project unite', friendship and scholarship schemes for other backward class students, guaranteed vocational training to the youth from backward classes and protection to distressed women are envisaged," he said.