Clash of India – China has resulted in many decisions to either halt or roll back. Recently, a deal worth investments of total over Rs 5,000 crore with three Chinese companies was proposed by Magnetic Maharashtra 2.0 investor meet was held. Now, The Maha Vikas Aghadi government has put the three agreements signed with on hold.
The decision has been taken in consultation with the Union government. The deal was made prior to the clash at the Indo-China border. Further, Industry Minister Subhash Desai stated that the Ministry has advised not to sign any further with Chinese companies.
Chinese ambassador Sun Weidong attended by the online conference. To set up an automobile plant in Talegaon near Pune, the three agreements included a Rs 3,770-crore MoU with Great Wall Motors. In addition, PMI Electro Mobility in a joint venture with Foton (China) had announced a Rs 1,000-crore unit that would create 1,500 jobs. Press release stated that Hengli Engineering will generate 150 jobs, a project for a Rs 250-crore investment as part of its phase II expansion at Talegaon.
Post COVID – 19, in order to boost up the economy, Magnetic Maharashtra 2.0 was an attempt by the Maharashtra government.Singapore, South Korea, US besides several Indian companies had a jint venture. Desai said the state government is actively processing the other nine MoUs.