Aurangabad, Nov 10:
The coronavirus is showing signs of slowing down, and the process of accelerating the economic cycle in Aurangabad industrial sector is now gaining momentum. The graph of two-wheeler and four-wheeler products is growing. The brewing companies have generated revenue of Rs 1,500 crore in taxes in the last six months. The process of setting up a medical equipment manufacturing park in Delhi-Mumbai Industrial Corridor (DMIC) is gaining momentum. Companies in Shendra DMIC have also started production.
The central government will set up four medical equipment manufacturing parks including Aurangabad. A grant of Rs 100 crore will also be provided for the construction of collective infrastructure in the construction of these parks. Big concessions have been given by the state government for the industries. The electricity rate for ten years has remained at Rs 1.05 per unit. Stamp duty waiver has also been given for purchase of land, lease, bank loan and mortgage. As Aurangabad ranks first in the state in terms of infrastructure, it is believed that industries will flourish here. Entrepreneurs in Aurangabad have been eyeing good investment in the city. CMIA president Kamleish Dhoot said, "Medical equipment manufacturing plant will provide huge opportunity for the local entrepreneurs. The park will accelerate investment in Marathwada. There will be 100 per cent subsidy in electricity bill, tax concessions for next ten years. This will surely attract investment."
Companies start production in Shendra
Shendra DMIC has become a hub for industrial growth and has infrastructure available on about two thousand hectares. As all the state-of-the-art services including water, electricity, high speed internet are operational, 40 companies are currently under construction and production has also started in 20 companies. Over Rs 3,000 crore has been invested by Hyosung, Swiss company Oerlikon Balzers, Coatall and Arrow Tools. Russian company NLMK Steel will also start construction.
Bidkin awaiting investment
New infrastructure work is underway on 2,500 hectares out of 8,000 hectares at Bidkin DMIC. Entrepreneurs are also making efforts for investment in Bidkin phase. Investment is being encouraged by the central government as it has decided to set up a medical equipment park in Bidkin under a self-reliance scheme. New investment in the sector is expected to increase employment.