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Investment proposals worth Rs 50,000 cr for Pune

The state government has received investment proposals worth Rs 50,000 crore in Pune, which is expected to generate over 4 lakh jobs in the next few months across sectors like Information Technology (IT), automotive and forging industry.

Investment proposals The proposals were made even as the industry body, Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), cites shortage of land as a main deterrent to industrial growth in the city. Government officials, however, said they are looking to develop new industrial areas to lure investment.

General Manager, district industries centre, Pune, S S Survase said, “We have received proposals of investment worth Rs 45,000 crore in various sectors, which will generate over 4 lakh jobs.

Though the major chunk of investment will come through foreign direct investment (FDI), there are also proposals in the mega project development scheme.” He said 90 per cent of proposed investment is in the FDI sector.

Source: TOI, Oct 13, 2011