Maharashtra is making a strong comeback in the automobile sector after losing out to Gujarat, Andhra Pradesh and Tamil Nadu in recent years, with companies promising fresh investments worth billions of dollars in the western state over the next five to seven years. US automobile giant General Motors has committed to invest $1 billion (Rs 6,770 crore) in new facilities.
The Maharashtra government has signed memoranda of understanding with companies such as Mahindra & Mahindra, Mercedes-Benz and Fiat Chrysler, which are expected to bring in $2.5 billion to the state, including from component manufactures. The planned investments are estimated to generate direct employment to 15,000 to 17,000. Two to three times more people are expected to get indirect jobs.