Maharashtra to be crucial in India's entry to top 50 global 'ease of doing business' ranking: Amitabh Kant

Photo: Twitter/@CMOMaharashtra

Mumbai: Maharashtra will play a key role in helping the country to break into the top 50 in the global list for ease of doing business over the next two years, Niti Aayog Chief Executive Amitabh Kant has said.

"We have jumped 42 ranks in the ease of doing business list of the World Bank in 2017, and Maharashtra has played a stellar role in that," Kant told the ongoing Maharashtra investors summit, adding, "to reach the top 50 in two years, Maharashtra will again play a key role."

Complimenting Maharashtra Chief Minister Devendra Fadnavis for his roadmap to attract investments to catapult the state into becoming a trillion-dollar economy by 2025, GVK Vice-Chairman Sanjay Reddy said while these ideas will help set growth in motion, lagging behind by 20-30 years. "It is relevant to show the citizens a flavour of what is in store for the next 20-30 years, which will pave a good roadmap for the future," he said.

Fadnavis said the share of services in Maharashtra's economy is 59 percent, while industries is currently at 30 percent. The chief minister said for the state to become a $1 trillion economy by 2025, it has grown at 15.4 percent per annum till then and for this to happen the services sector must increase its share to 67 percent, while industries should be at 27 percent, he indicated.

However, Mahindra & Mahindra Managing Director Pawan Goenka disagreed, saying the state has a strong presence in manufacturing and should continue focussing on the same.

Pawan Goenka pointed out that Maharashtra is already ahead of other states in manufacturing GDP and also growth in manufacturing. "There is no need for manufacturing to grow less than the services sector in the state, as it is already ahead of other states," Goenka said, adding, "manufacturing has higher backward and forward linkages. We should also focus on the growth of MSMEs."

Gautam Singhania of Raymond also agreed with Goenka, saying his company has a strong manufacturing presence in the state and will continue to invest here if the state continued to support it.

(With PTI inputs)