Maharashtra relaxes norms for setting up Integrated Industrial Areas

To compete with neighbouring states such as Gujarat and Karnataka in attracting investments, the Maharashtra government, on February 14, 2018, relaxed its norms for Integrated Industrial Areas (IIAs). The state cabinet passed a resolution, which said that states such as Gujarat, Karnataka and Tamil Nadu, woo industries by providing them more facilities and hence, the government was taking this decision. The cabinet decision comes ahead of the forthcoming ‘Magnetic Maharashtra’ investor summit. As per the decision, the mandatory condition of having 40 hectares of land for setting up an IIA, has been relaxed to 20 hectares. The land utilisation ratio of industry to residential area, has been revised from 60:40 to 80:20, which means more land would be available for industry, an official statement said.