Maharashtra state deputy chief minister Devendra Fadnavis said India should be ready to attract industries exiting China, as global investors have realised they cannot put all eggs in one basket.
Fadnavis also said that the Eknath Shinde-led Maharashtra government has cleared investment proposals worth Rs 90,000 crore in the last six months.
Addressing the valedictory session of the Advantage Maharashtra Expo here, Fadnavis said there was an exodus of industries from China, which was the factory of the world, with about 40 per cent of manufacturing globally done there.
Global investors have decided to leave China now, and the only country which has the capacity to digest this exodus is India. We need to attract them, as investors have realised they can't put all their eggs in one basket, the deputy chief minister said.
This is an opportune time and we have to be ready, he said. Despite recession, India is growing at 7 to 8 per cent because of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi to make India self-reliant, Fadnavis said.
A government has to be approachable. The previous regime did not hold a meeting of the cabinet committee on investment for 15 months. While in the last six months, we have held two meetings and cleared investment proposals worth Rs 90,000 crore, Fadnavis said.
In order to attract investors coming out of China, the government and industries should come together to create the right ecosystem, he said.