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Maharashtra approves export incentive policy to drive investment, achieve export targets
Industry News- Nov 14,23
The policy's goals include doubling the state's current export value from $72 billion to $150 billion and initiating 30 export infrastructure projects over the next five years.
Maharashtra cabinet approved the state's inaugural export incentive policy, aiming to attract investments totaling Rs 25,000 crores. Maharashtra aims to secure a 22% share of India's ambitious $1 trillion export target by 2030.
The policy's goals include doubling the state's current export value from $72 billion to $150 billion and initiating 30 export infrastructure projects over the next five years. Effective until 2027-28, the policy is anticipated to benefit 5,000 MSMEs, alongside larger projects, generating 40,000 job opportunities, according to government statements.
This initiative involves providing financial support of up to Rs 50 crore for specific export-oriented projects and Rs 100 crore for export-oriented industrial parks. Additionally, the policy seeks to transform districts into export hubs, addressing regional disparities by enhancing the export contributions of each district.
Source: logisticsinsider.in
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