Maharashtra Chief Minister Eknath Shinde has approved four major high-tech investment projects worth ₹1.17 lakh crore, which will significantly boost the State’s semiconductor and electric vehicle (EV) manufacturing sectors. These projects, to be set up in Marathwada, Vidarbha, Pune, and Panvel, are expected to generate 29,000 jobs.
During a meeting of the Cabinet Sub-Committee on Industry, chaired by CM Shinde in Mumbai on Thursday, the projects were given the green light. The Chief Minister highlighted the importance of these investments, stating that Maharashtra is poised to become a leading State in EV manufacturing, creating both direct and indirect employment opportunities.
“These projects will drive technological innovation, research, and development while establishing a robust local supply chain. Micro, Small, and Medium Enterprises (MSMEs) will benefit significantly from these developments,” said CM Shinde. He also emphasised that the projects will offer training and skill development opportunities, enhancing the employability of local workers in emerging technologies.
Semiconductor manufacturing
A major highlight is a semiconductor manufacturing project, jointly undertaken by Tower Semiconductor and the Adani Group, to be set up in Panvel, Raigad district. The project will involve a total investment of ₹83,947 crore, with ₹58,763 crore in the first phase and ₹25,184 crore in the second phase. It is expected to create 15,000 jobs.
Additionally, the State had earlier approved another semiconductor project by RRP Electronics in July, marking Maharashtra’s first venture into semiconductor manufacturing. The combined efforts of RRP Electronics and Tower Semiconductor will position Maharashtra as a leader in India’s growing semiconductor sector, helping meet the country’s increasing demand, and establishing a robust ecosystem for semiconductor production.
In Pune, Skoda Auto Volkswagen India will invest ₹12,000 crore to set up an integrated electric vehicle manufacturing facility, creating 1,000 jobs. This facility will produce electric vehicles using cutting-edge technology.
Toyota Kirloskar Motor will also establish a large-scale electric vehicle manufacturing project in Chhatrapati Sambhajinagar under the State’s electric vehicle promotion policy. The project will attract ₹21,273 crore in investment and generate 12,000 jobs. CM Shinde highlighted that this project will strengthen Maharashtra’s position as a leading State in electric vehicle production.
Mitigating climate change
The projects are also expected to contribute to environmental sustainability by reducing greenhouse gas emissions through increased electric vehicle adoption, improving air quality, and mitigating climate change.
In addition, Raymond Luxury Cottons will set up a ₹188 crore textile project in Nandgaon Peth, Amravati, focusing on spinning, yarn dyeing, and weaving of jute and cotton. This project will create 550 jobs and support local industry growth.
With these approvals, Maharashtra is set to become a hub for technological advancement and innovation, driving growth across key sectors and creating numerous employment opportunities for its citizens.