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Industrial development is essential, but so is safeguarding the environment.As generatenews about Maharashtra’s achievements at the World Economic Forum in Davos poured in, several questions crossed my mind. Securing new investment agreements to the tune of nearly Rs 15.75 lakh crore is no small feat -- it has shattered all previous records in the country. These major agreements are undoubtedly a testament to the trust the industrial world has in Maharashtra chief minister Devendra Fadnavis. He is increasingly being accepted by the business community too as ‘Bhau’ or brother.While the news of significant investments was making headlines, some raised concerns that the companies involved in these agreements are primarily Indian and already have their presence in Maharashtra. So the question is, how much of this truly is foreign investment? To this, Fadnavis responded that Davos attracts global leaders, and the Indian companies with whom agreements were signed also have foreign investors associated with them. For example, Amazon Web Services has signed a deal with Maharashtra and plans to invest around Rs 71,800 crore over the next five years, generating over 81,000 jobs. Many foreign companies are eager to enter India but remain hesitant due to uncertainties caused by global factors, including the US President Donald Trump’s policies. They are, therefore, adopting a wait and watch policy. However, Maharashtra holds immense potential for foreign direct investment (FDI). The state is already a preferred destination for foreign companies, but there’s a need to make it even more attractive. Fadnavis has been working towards this goal by focussing on ease of doing business in the state. But more needs to be done.During his first tenure (2014–2019), Fadnavis visited Davos thrice and organised ‘Magnetic Maharashtra’ investment summit twice. He continues to focus on attracting foreign investment in his second term.A dedicated desk for investors has been created, and efforts are underway to align Maharashtra’s investment policies with global standards. Fadnavis maintains regular interactions with key industry leaders, embassies and trade organisations to foster collaborations. Notwithstanding this, Maharashtra has managed to secure an average of Rs 1.19 lakh crore annually in FDI over the past four years. While it’s commendable that Maharashtra accounts for over 31% of the country’s FDI, there are ample possibilities for a significant growth in it. Another concern has been the shifting of several proposed projects from Maharashtra to other states in recent years, which needs urgent attention.The most important question alongside capital investment is, how is this investment geographically distributed across the state? I congratulate Devendra Ji for focussing on the Naxal-affected Gadchiroli region over the past decade. He has worked to improve the civic amenities, deployed competent officers there and strengthened the administrative structure. Now, as the guardian minister of Gadchiroli, he appears determined to transform the district into a steel hub. Companies are showing interest in the region. When the youths will get employment, they will not go astray. Just as Devendra Ji is concentrating on Gadchiroli, he must similarly focus on other districts across the state where employment opportunities are lacking. A thorough study needs to be conducted to identify which industries could be established in industrially backward regions such as Vidarbha, Marathwada, North Maharashtra and the Konkan. Equitable development across the state is necessary. There are districts that have an excess of industries, while others are still waiting for their turn. The Samruddhi Mahamarg has created new opportunities in several areas. For instance, an automobile industry could be set up in Kelzar in Wardha district. The need is to provide incentives and facilities to attract companies in these areas.Devendra Ji must also focus on other critical issues. When my father and veteran freedom fighter Jawaharlalji Darda was the industries minister of Maharashtra, the Hinduja Group had acquired land to set up a Leyland factory. However, they simply turned the land into a storage facility, and there has been no progress towards establishing a factory. This is just one example. There are several such examples across the state. The chief minister should ensure that if companies fail to fulfil their contractual obligations after acquiring land, their allotment should be cancelled and the land should be reallocated to other industrialists willing to set up units and generate jobs. For instance, around 50 years ago, a Raymond factory was set up in Dhule, but the same was shut down for some unknown reasons. Therefore, Devendra Ji will also have to fight the ‘disease’ of industries closing down. While promoting industries is crucial for the overall development of the state, prioritising environment protection is equally important. Many government and private industries are causing severe damage to the environment. It is essential to rein in such industries.Nonetheless, I congratulate chief minister Devendra Fadnavis and all 54 industries, including Reliance Industries, Adani Group, JSW and Lloyds Metal and Energy Limited, that signed investment agreements. I hope the agreements these industries have entered into will be implemented in letter and spirit.The author is the chairman, Editorial Board of Lokmat Media and former member of Rajya Sabha.

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