Pune is the start-up city and manufacturing hub of Maharashtra, along with the numerous qualitative educational and skill development institutions. It is one of the top 10 cities in India and is also the largest city that is not a state capital. The rich heritage of Pune, the culture, educational facilities and industries around the city are the attractive things that many cities would crave.
Pune has been the most prominent city in education and skill development. The focus on knowledge and skilling helps it generate employment in high-paying job roles that have a positive externality of creating amultiplier effect of producing more jobs at the bottom of the pyramid. Industries and commerce bring jobs and prosperity to the city dwellers. Therefore, attracting desired industries and commerce cannot only be left to the Centre and State Governments. Cities need to take the initiative as well.
Pune is, yet again, demonstrating its authority and leading the way to show that a City Administration can take a few proactive steps to attract the investment. Pune Municipal Corporation (PMC) has set up an ‘Investor Facilitation Cell’ (IFC). The Cell will increase investment in Pune city and nearby areas. It will act as a one-window system for all the foreign investors, companies, representatives of various countries and businesses, etc.
Red Carpet for Investment
The Foreign Direct Investment (FDI) observed a decline of 3.57 per cent in the last five years. If the prominent cities in the State do not make significant efforts to attract investment, we might see a significant loss of FDI inflow in Maharashtra by 2023-24. To cater to all kinds of investors and encourage them invest and launch new ventures, IFC will act as a facilitator for Pune city and the surrounding region.
FDI inflow in Maharashtra (in Crores rupees)
*FDI inflow till 2018-19 includes combined data for Maharashtra, Dadra and Nagar Haveli, Daman, and Diu. (Source: dipp.gov.in)