#Thread
Why Maharashtra lost to Gujarat on Vedanta Foxconn Semicondictor plant worth Rs.1.54 lakh Cr.
I am going to tag @OfficeofUT, hoping that he gives me a factual rebuttal on allegations that I am going to level on him.
It's his poor administration which was the main cause
Why Maharashtra lost to Gujarat on Vedanta Foxconn Semicondictor plant worth Rs.1.54 lakh Cr.
I am going to tag @OfficeofUT, hoping that he gives me a factual rebuttal on allegations that I am going to level on him.
It's his poor administration which was the main cause
Vedanta had clearly laid few conditions that it wanted 1000 acres of land free of cost on 99 year lease and they also asked for power & water at subsidised rates & fixed prices for 20 years.
Above conditions were met by Gujarat CM, which was main reason why MH lost to Gujarat.
Above conditions were met by Gujarat CM, which was main reason why MH lost to Gujarat.
As mentioned above, Gujarat fulfilled the demand which was made by Vedanta Foxconn
On 28th July 2022, Gujarat became the first state to announce Semiconductor policy with heavy subsidy on land, power & water. They announced a Semicon city dedicated to Semiconductor manufacturing
On 28th July 2022, Gujarat became the first state to announce Semiconductor policy with heavy subsidy on land, power & water. They announced a Semicon city dedicated to Semiconductor manufacturing
Icing on the cake, Gujarat also announced that State Gov will provide additional 40 per cent capex assistance provided by the Centre under ISM scheme.
So Vedanta got free land, concessional rate for power & water supply plus additional capex assistance.
So Vedanta got free land, concessional rate for power & water supply plus additional capex assistance.
Now let's look at one final surge made by Shinde Gov to win the Vedanta project for MH.
Day when Gujarat announced a detailed policy for Semiconductor manufacturing, Shinde-Fadnavis Govt announced to give free land to Vedanta at Talegaon, Pune
Day when Gujarat announced a detailed policy for Semiconductor manufacturing, Shinde-Fadnavis Govt announced to give free land to Vedanta at Talegaon, Pune
Shinde-Fadnavis Gov also approved water & power subsidy for the Vedanta Foxconn project & also announced 25 per cent capex assistance for the project
These announcements came when negotiations were already in the final stage, whr Gujarat had promised 40 per cent capex assistance
These announcements came when negotiations were already in the final stage, whr Gujarat had promised 40 per cent capex assistance
Now let's focus on inefficiency of @OfficeofUT
Vedanta Foxconn Semicondictor plant in MH was a dream project of Fadnavis. Whr he had signed a MoU in 2015, whr he promised to invest 5 billion dollar for the project
But in 2020, UT announced to scrap that $5 billion investment
Vedanta Foxconn Semicondictor plant in MH was a dream project of Fadnavis. Whr he had signed a MoU in 2015, whr he promised to invest 5 billion dollar for the project
But in 2020, UT announced to scrap that $5 billion investment
In 2016, Fadnavis had already announced to provide Power subsidy for industrial growth in Maharashtra. His policies were attracting highest Foreign Direct Investment in MH.
But Uddhav Thackeray had another plans
But Uddhav Thackeray had another plans
In Feb 2022, MH gov led by Uddhav Thackeray decided to scrap power subsidy to the textile industry. Which was a huge set back for that industry.
Reason, Maharashtra was facing power crisis
Reason, Maharashtra was facing power crisis
State Power Minister Nitin Raut was seeking CM Uddhav's intervention in recovering Rs.9138 Cr from Urban & Rural development against the electricity used for water supply & streetlight.
He also said that all other power subsidies will be scrapped if dues were not paid on time.
He also said that all other power subsidies will be scrapped if dues were not paid on time.
Fadnavis Government had issued a Maharashtra Electronic Policy in 2016 for next 5 years, specifically designed to attract Semiconductor projects like Vedanta Foxconn.
When the policy was abt to expire in 2021, UT extended that same policy by 2 years till March 2023 ๐
When the policy was abt to expire in 2021, UT extended that same policy by 2 years till March 2023 ๐
In fact, Uddhav Thackeray should hav resigned the Maharashtra Electronic Policy based on the current market conditions & issued a new policy from 2021-2026
But he simply extended the existing policy till Mar 2023, without a further roadmap to attract new investors to Maharashtra
But he simply extended the existing policy till Mar 2023, without a further roadmap to attract new investors to Maharashtra
In his tenure from Dec 2019 till June 2022, Uddhav Thackeray has taken Zero efforts to win Vedanta Foxconn project or any similar Electronic project. No policies were made to attract investor while neighbours Gujarat were well prepared with detailed roadmap & long term commitment
Also, during Fadnavis Govt, Maharashtra was attracting highest Foreign Direct Investment whereas in Uddhav Thackeray era Maharashtra slipped at number 3 behind Gujarat & Karnataka
There were internal power crises plus political instability were one of main reasons why MH lost
There were internal power crises plus political instability were one of main reasons why MH lost
Shinde-Fadnavis did try to win the project back in the slog overs but honestly it was too late by then.
I am challenging @OfficeofUT to show me those policies made by his Govt to win Vedanta Foxconn or any other Semiconductor project
Let me know your views in comments๐๐ผ. Thanks
I am challenging @OfficeofUT to show me those policies made by his Govt to win Vedanta Foxconn or any other Semiconductor project
Let me know your views in comments๐๐ผ. Thanks
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