Devendra Fadnavis’s takeaway from Davos: 20,000 jobs, India’s first escalator plant

MUMBAI(PTI): Information technology giant Cognizant assured creation of 20,000 jobs on its new campus after the Maharashtra government announced allotment of 20 acres of land near Pune to the global firm during this year’s World Economic Forum at Davos. In another welcome development, leading elevator manufacturer Schindler would be setting up India’s first escalator manufacturing plant in the state.

“Davos is a forum for networking and generally no memorandum of understanding is signed during the meet. Since the atmosphere of investment in India has improved, investors were eager to come to India, especially Maharashtra. The talks were so fruitful that we issued the letter of allotment to Cognizant on the discussion table. The company has assured to create 20,000 jobs on its new campus,” said chief minister Devendra Fadnavis.

Apurva Chandra, secretary of the Department of Industries confirmed allotment of land at Hinjewadi to the IT firm.

India’s dependence on imported escalators will come down with Schindler planning to set up a zero-discharge plant in Maharashtra, said Fadnavis. He said many Japanese firms would be visiting the state to explore the possibility of setting up a textile cluster in Amaravati with the aim of providing end-to-end solution to cotton growers. The CM said that he had offered the Japanese companies to develop a Japanese park.

Cafeteria approach
The CM said that JP Morgan has showed keen interest in doing a roadshow in the US to attract financial sector giants to Maharashtra. Several Japanese firms too have shown keenness in having similar drives in their home country. He said that the state government would have a cafeteria approach and offer space for investors in whichever area they want in terms of diverse opportunities and faster clearances on par with China.