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Home महाराष्ट् Maharashtra Approves Major Investments in Semiconductor and EV Projects

Maharashtra Approves Major Investments in Semiconductor and EV Projects

The Maharashtra government has approved major investments totaling ₹1.17 lakh crore (approximately $14 billion) in four high-tech projects focusing on semiconductor and electric vehicle (EV) manufacturing. This decision, made during a Cabinet Sub-Committee meeting, aims to boost local economies and create around 29,000 jobs across regions such as Marathwada, Vidarbha, Pune, and Panvel.

Key highlights of the projects include:

  1. Tower Semiconductor and Adani Group: They will collaborate on a semiconductor manufacturing facility in Panvel, with a total investment of ₹83,947 crore planned in two phases. This project is expected to generate about 15,000 jobs.
  2. Skoda Auto Volkswagen India: This company is set to invest ₹12,000 crore in Pune for the production of electric and hybrid vehicles, creating approximately 1,000 job opportunities.
  3. Toyota Kirloskar Motor: Investing ₹21,273 crore in Chhatrapati Sambhajinagar, this project aims to enhance hybrid and electric vehicle production, leading to around 12,000 new jobs.
  4. Raymond Luxury Cottons: Under the textile industry policy, this company will invest ₹188 crore in Amravati for manufacturing textiles, generating about 550 jobs.

These initiatives are part of a broader strategy to position Maharashtra as a leader in advanced manufacturing, significantly strengthening the local supply chain and fostering innovation.

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