Maharashtra engages Europe to attract FDI into thrust sectors defining the next decade of growth engine

  • European Business and Technology Centre (EBTC) partnered with Primus Partners to facilitate a series of interactive, closed-door discussions for senior representatives of Maharashtra government and European stakeholders.
  • The State of Maharashtra had bilateral engagements covering 13European Member States

New Delhi, March 01, 2022: European Business and Technology Centre (EBTC) along with Primus Partners facilitated a series of interactive, closed-door meetings with senior representatives of the State of Maharashtra and European diplomatic missions in India, the heads of Europe-India bilateral chambers of commerce and leaders of major European business enterprises.

With Maharashtra seeking to maintain its leadership attracting FDI, innovation and sustainable industrial development, Europe is a natural business partner for the state. This enhanced focus presents a unique opportunity for European businesses that have pioneered the shift of industries to become more sustainable and environmentally responsible.

These discussions seek to identify avenues for cooperation between relevant stakeholders from Europe and Maharashtra especially focused in the areas of Logistics, Renewable Energy, Machinery (Tools), Chemicals, Automobiles (Electric Vehicles), and ESDM. Further, the meetings focused on assessing the demand for different innovative and sustainable solutions offered by European businesses to facilitate Maharashtra’s long-term industrial and investment goalsand define paths for their entry into the stateas we collectively step out of the lull caused by the pandemic.

Mr. Baldev Singh, Additional Chief Secretary, Industries Department, Government of Maharashtra opined that “Maharashtra is recognized for its conducive policy ecosystem and for the Ease of Doing Business. A testament to that is the high-volume of FDI that Maharashtra attracts and the presence of leading MNCs in the state. The discussions initiated by EBTC and Primus Partners are indeed meaningful and will help in further strengthening the presence of European businesses in the state of Maharashtra. It is great to note the collective interest shown by European stakeholders towards doing business in the state and this is a testament to the infrastructure, policies and incentives that the state has to offer.”

Speaking on the initiative, Mr. Poul. V. Jensen, MD EBTC, said “The forward-thinking policies and incentives provided by Maharashtra provide a great opportunity for European stakeholder exploring the Indian market. There is an urgency between Europe and India to co-create demand-driven collaborations, shape global supply chains and undertake sustainable projects. The state’s focus towards sustainability is an area where Europe unlocks immense technology and potential for India.”

Mr. Arnaldo Abruzzini, a Member of the Advisory Board at EBTC and former CEO at EUROCHAMBRES, mentioned “Maharashtra is at the forefront of global investments not only in India, but globally. However, in this competitive environment with global supply chains, it is crucial to ensure that these policies are effectively conveyed to potential investors. Leading European businesses view India as a massive opportunity and huge consumption market and closer business ties between both regions is crucial to sustainable and inclusive growth.”

While Mr. Davinder Sandhu, Chairman, Primus Partners highlighted that “As we come out of the pandemic, it is heartening to see that FDI dialogues are happening with a focus on ease of doing business, efficient execution and streamlining projects. In view of India’s commitment to Net Zero and climate change and Europe’s thought and tech leadership in these areas, there is fertile territory for partnerships in energy, transportation, and urban infrastructure. The added aspect is Europe’s experience in facilitating MSME growth and that experience will help India’s push towards becoming a $5 trillion economy.”

On the sidelines, Primus Partners assisted in a dialogue between Asian Paints Ltd. and Government of Maharashtra, where Asian Paints shared its intent to further fresh investments into the State of Maharashtra to expand capacity.

Mr. Amit Kumar Singh, AVP and Group Head of Corporate Affairs of Asian Paints said “Asian Paints Ltd. is in advanced stage of discussions with Industries Dept, Govt of Maharashtra for exploring the possibility of expanding the capacity in our Khandala plant. AP is enthused by this opportunity of deepening our partnership with Govt of Maharashtra.”

Speaking on role of Primus Partners Mr. Nilaya Varma, CEO, Primus Partners said “Both Europe and India have at the highest levels reiterated their commitment in the key areas of sustainability and digitization. In line with that, the government of Maharashtra is taking giant strides to attract inward FDI by proactively engaging with all EU states. European businesses can play a key role in achieving Maharashtra’s long-term industrial and investment goals and help the state in retaining its position as the top attractor of FDI in India. In fact, we believe that conversations should also include borrowing best practices in skilling, technology and sustainability from Europe that will help build capacity for industries in Maharashtra.”

Summarizing the meetings,Mr. Adarsh Sharma, Managing Director, Primus Partners said ‘‘The discussions and the outcomes of these meetings set a strong example of fruitful results that collaboration between the State and Institutional Industry Champions can achieve. The State pitching its strength in the early stages of growth of these strategic sectors will directly contribute to India’s goal of achieving net zero emission yet enabling robust economic growth  maintaining timely policy interventions, and therefore seeding the industry consultation dialogue in formative stages will not just be excellent feedback to go back with, but also gives the state an excellent jump start to gaze interest of investors looking at the state for both greenfield and expansion plans. Along with EBTC, Primus Partners is very happy to play its part in assisting the forward-looking vision of the state.”