(MENAFN- KNN India) Of 2512 MoUs signed in MSME sector for Maharashtra, only 738 started so far: Data
New Delhi, Aug 23 (KNN) According to the data released by Directorate of Industries, majority of the collaboration projects signed for the Micro, Small and Medium Enterprises (MSMEs) in the state of Maharashtra are yet to progress into the production phase.
The Data reveals that out of the 2,512 MoUs signed in the MSME sector; only 738 have been converted into investment with the being able to actually start with the production cycle. The data further suggest that over 405 projects have finished their construction cycle, whereas 1,028 have just taken initial steps towards setting up their units.
The Data informed that with regard to big investments, of the 800 companies that were planned, 284 companies have started their production, while 175 companies are just in the phase of completing with the construction work.
Also the data revealed that the industrial work in the district of Pune is in good shape as compared to the other states.
The Data comes as a follow up of the Make in India project of the government in 2015 with an aim to attract MoUs and investments for the industry in the state. During the Make in India week event in 2015, investment of 28,869.12 crores was planned with an expectation of employment to over 17 lakh people.
Experts view that the Make in india project suffered certain friction due to the demonetization. But with the coming of GST, the project is expected to continue at a steady pace. (KNN/ DA)
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