Maharashtra signs 3 projects with China worth Rs 5000 crore .

In the Magnetic Maharashtra 2.0 Investors Meet , Maharashtra Government has signed 3 agreements worth Rs 5000 Crore , with Chinese Companies.

This deal comes as a shock because just few days back India and China had a major clash at the Galwan Valley , which took away the lives of 20 personnels from the Indian Army. Though the reports suggest that the deal with the Chinese companies , was already signed before the taking place of this particular incident.
“The decision has been taken in consultation with the Union Government . These were signed prior (to the killing of 20 Indian Soliders on India-China border) . The Ministry of External Affairs has advised not to sign any further agreements with Chinese companies ” , said Shubham Desai , Industry Minister.

In the all-party meeting , which took place , post the clash between India and China , was headed by the Prime Minister Narendra Modi, where Uddhav Thackeray was present as well , to which he had said that, “India wants peace but that doesn’t mean we are weak. China’s nature is betrayal. India is mazboot not majboor.”

The Magnetic Maharashtra Investors Meet is an initiative by the Maharashtra Government to kickstart the economy, post COVID-19 period .

A total of 12 agreements were signed out of which , 3 were with China , the are with companies from Singapore, South Korea , the US and some Indian companies as well . The left over 9 MoUs are being processed by the State Government .

The 3 agreements signed ,included Rs 3,370 – crore MoU , which was with Great Wall Motors, for setting up an automobile plant in Talegaon , near Pune. Then there was PMI Elecetro Mobility with Foton ( China ) , as a joint venture , had announced Rs 1000-crore unit, which aims to create 15000 jobs . An investment of Rs-250 crore by Hengli Engineering , which is a Chinese company , has been made for the phase 2 expansion at Talegaon, which shall create 150 new jobs.
In the beginning of year 2020 only , Great Wall Motors has signed an agreement to acquire Talegaon plant from US-based multinational General Motors. “This would be highly automated plant in Talegaon (near Pune) with advanced robotics technology integrated in many of the production process” , said Parker Shi , Managing Director of the Indian Subsidiary of Great Wall Motors. ” Overall we are committed to $1billion of investment in India in a phased manner , which is directed towards manufacturing world class intelligent and premium products, R&D centre , building supply chain and providing jobs to over 3000 people in a phased manner” , he further added.

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