Speaking at the Magnetic Maharashtra conclave today, Ratan Tata, Baba Kalyani and Anand Mahindra vote for investment in Maharashtra even as Virgin CEO Richard Branson reveals plans for a hyperloop to connect Mumbai and Pune.
18 Feb 2018 | 12109 Views | By Autocar Professional Bureau
The three-day 'Magnetic Maharashtra: Convergence 2018' event, which sees participation from leading Indian and global companies, opened today. It was inaugurated by prime minister Narendra Modi who said Maharashtra is aiming to become a trillion-dollar economy by 2020. Magnetic Maharashtra is being held at the MMRDA Gounds, Bandra-Kurla Complex, Mumbai, India. Spread ...
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The three-day 'Magnetic Maharashtra: Convergence 2018' event, which sees participation from leading Indian and global companies, opened today. It was inaugurated by prime minister Narendra Modi who said Maharashtra is aiming to become a trillion-dollar economy by 2020. Magnetic Maharashtra is being held at the MMRDA Gounds, Bandra-Kurla Complex, Mumbai, India. Spread across 50,000 square metres of space at MMRDA Grounds, Bandra- Kurla Complex, Mumbai till February 20.
'Magnetic Maharashtra' invites investors to 'Make in India' and that's just the message what captains of industry like Ratan Tata, Baba Kalyani and Anand Mahindra conveyed as they called upon investors to actively think of Maharashtra as their investment destination.
Richard Branson, Virgin CEO and chairman of Virgin Hyperloop One, revealed plans for a hyperloop that would connect Mumbai and Pune. "The state of Maharashtra has signed a framework agreement with Virgin with the intent to build a Virgin hyperloop between Pune and Mumbai. It will link Pune to Mumbai and Navi Mumbai airport in 15-20 minutes. It will carry 150 million passengers per year and will help create a thriving, competitive mega region. "
"I am tremendously excited by the potential of the hyperloop, soon capable of speeds of upto 1,000 kilometres per hour. I am excited by the amazing potential of a system that can change the world. I believe Virgin Hyperloop can have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network that could dramatically reduce travel times between most of India's major cities to under two hours. It would help alleviate the misery of people sitting in traffic , hour after hour."
Ratan Tata, chairman emeritus of the Tata Group, said, "Tata's industrial empire began in Maharashtra in 1877 when Jamshedji Tata built a textile mill in Nagpur. This was the first industrial venture that India had. Maharashtra has been the home of many Tata companies and the head office. We have been present in different parts of India in terms of manufacturing but Maharashtra has been the vanguard of advancement in the country. Maharashra is now once again a vibrant state, investing in infrastructure high-speed trains, connectivity on the road and air. Maharashtra is a state that has defined places of excellence, be it Nagpur, Pune, Aurangabad. The future of Maharashtra is a very rosy one. Tatas will continue to invest in Maharashtra and will continue to work with the state government to make it one of the foremost states in the country for industrial investment. I urge investors looking for places to invest, to invest in Maharashtra."
Baba Kalyani, chairman, Bharat Forge, who first spoke about the origin of the company in Maharashtra in 1964 at the hands of his father, a farmer turned entrepreneur, said Maharashtra has made Bharat Forge the largest company in its business in the world. "We are the first multinational in manufacturing and this is all because of Maharashtra. The prime minister's vision of Make in India, especially in the area of defence and high-tech manufacturing has seen us set up two plants for high-tech defence products. We are setting up two more plants right now in the Khed area of Pune for manufacture and export of parts for electric and hybrid vehicles globally. I am happy that the vision of Digital India is going to make India and its manufacturing much more competitive than the rest of the world and also providing huge opportunities."
Anand Mahindra, chairman of the Mahindra Group, said: "Mahindra & Mahindra's founders JC and KC Mahindra, who were born in Punjab, first set up operations in Kolkata. A few years later, they realised the benefits of Maharashtra. They travelled all the way to Maharashtra to make it home. And their decision was rewarded with good fortune because here in Maharashtra is where our group has prospered and it has flourished through the ups and downs of the last decades. We have absorbed the peak qualities of the state -- reinvention and resilience. Maharashtra has two strengths: its villages and a city like Mumbai."
Mahindra continued, "Apart from the promise of rural consumption growth, cities are the showcase of a country's ability to execute the vision of the future, Mumbai is the most exciting and robust city in the country. It 's a jewel in Maharashtra's crown but it's also a double-edged sword. If the city begins to groan under its own weight and mismanages growth, then you may just as well turn away investors and the world. So, while I am delighted to hear about the investments in infrastructure projects, I would request the chief minister to tell us, in a manner similar to the clear vision for transformation of villages, what is your vision for Mumbai? What we can promise is to commit to that vision, to make it happen."
"The Mahindra Auto Division's ongoing investments in Maharashtra exceed Rs 8,500 crore including our manufacturing units in Nashik, Chakan and Igatpuri. Additionally, we have executed an MoU with the government of Maharashtra for an investment of Rs 500 crore under the new electric vehicle policy. I applaud the chief minister for being one of the pioneers for bringing EVs to the country. Tech Mahindra, our IT company, is going to set up all-green, next-generation Centre of Excellence in Nagpur with an investment of Rs 125 crore over three years in high-tech space and also create 2,500 employment opportunities," said Mahindra.