Maharashtra Chief Minister Prithviraj Chavan today said the state is still a favoured destination for investors and is far ahead of neighbouring Gujarat.
During the opening day of the two-day 'Advantage Vidarbha' investors' meet here today, Chavan said that the Maharashtra government will make all out efforts to keep its number one position.
He said that the conference evoked tremendous response from investors and the state government would leave no stone unturned to welcome new investments to Vidarbha.
Chavan told reporters that Maharashtra supplies uninterrupted power to industries instead of giving subsidies, while other states give tariff concessions though their power supply is not smooth.
Around 25 industrial houses including Raymond Group, Ambuja Group and BHEL signed memorandums of understanding (MoU) worth about Rs 18,461 crore with the Maharashtra government to set up new units and expand their businesses in the Vidarbha region.
However, Chavan remained non-commital on a power subsidy, saying that the state already gave a power subsidy to farmers, roughly to the tune of Rs 3500 crore, and the issue would have to be discussed with the Maharashtra Electricity Regulatory Commission (MERC).
Earlier, he interacted with Tata Group Chairman Cyrus Mistry who recalled the long association of the group, when Jamshedji Tata set up textile mills.
Later, they visited the Multi-modal International Cargo Hub and Airport (MIHAN) project.
The conference will conclude tomorrow evening.