Mumbai, June 12: The Confederation of Indian Industry (CII) has expressed concern over the worsening industrial investment climate in Maharashtra. Industrial investment in Maharashtra has suffered a sharp slowdown — from Rs 10,000 crore in 1993-94 to Rs 65 crore in 2002-03.
While the number of sick units in Maharashtra has increased considerably, new industrial projects have reduced from 850 in 1993-94 to 32 in 2002-03, according to CII. It has urged the government to deal with the situation urgently. A CII delegation met chief minister Sushil Kumar Shinde on June 2 and suggested the formation of an industry-government task force to promote economic revival in the state.

According to a CII spokesperson, the fiscal issues were causing concern as government guarantees and balance-sheet borrowings have mounted to Rs 83,799 crore. The CII has commissioned an international consultancy to study the situation in the state and highlight the necessary steps to promote investments.
It has also offered to work with the government in creating a “model village”, where the CII would help build industry, farmer-government linkages by providing financial guidance, marketing support and technology inputs. Bureau Report