Maharashtra's Manufacturing Sector To Grow At 6.9% In FY23 Slump In Services
(MENAFN- KNN India)
Maharashtra's manufacturing sector to grow at 6.9% in FY23; slump in services Mumbai, Mar 9 (KNN) The manufacturing segment of Maharashtra is likely to expand at 6.9 per cent for 2022-23 as compared to 4.2 per cent in 2021-22, as per the state's economic survey for the current fiscal.
Construction and mining/quarrying, which along with manufacturing form some of the broad categories in the industrial sector, are expected to grow by 4.4 per cent against 0.9-1.3 per cent in the previous year, reported TOI.
The state's overall industrial sector is expected to grow by 6.1 per cent from 3.8 per cent in 2021-22.
During 2022-23 the services sector's growth is likely to fall down to 6.4 per cent from 10.6 per cent.
Up to November 2022, the number of industrial projects approved were 211 with an overall investment of Rs 35,870 crore.
Remaining in forefront the state saw an inflow of Rs 62,425 crore in foreign direct investments (FDI) up to September 2022.
Up to January 2023 it had received 2.78 lakh applications of which 2.69 lakh applications were processed. MAITRI also resolved 3,905 grievances out of 3,945 grievances it received.
From data available for agri exports up to November 2022, it has been a less than satisfactory performance. Barring onion where shipments rose considerably, trade in most other staple crops has fallen.
The state also claims to have the highest number of start-ups in India at 16,014 employing 1.7 lakh persons.
Up to November 2022, total number of Micro, Small and Medium Enterprises (MSME) registered on the Udyam portal of Government of India is 20.43 lakh and the total number of persons employed is 1.7 crore.
(KNN Bureau)
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