Tata, Mahindra, Volkswagen and Bajaj invested INR 1151 billion in Maharashtra

Local manufacturers like Tata electric, Mahindra and Bajaj signed a four rupee agreement with German carmaker Volkswagen and the Maharashtra government, investing 1151 billion rupees. Prithviraj Chawan, chief minister of Maharashtra state, Narayan rane, state industry minister, M & M, chairman of Anand Mahindra, Ravi pisharody, executive director of commercial vehicles Tata Motors and Pankaj Gupta, executive director of Volkswagen on this occasion.

Under the agreement, Volkswagen will invest 151 billion rupees, while Tata Motors and Mahindra will spend 400 billion rupees each time. Bajaj Auto also agreed to invest rs. 2000 in the existing facilities.

In addition, in 2011, the national government imposed a value-added tax law on net sales rather than sales. This time, the takaon tax system may even threaten the competitive advantage of many car manufacturers. However, according to the quotation per centimeter, things seem to get more noble.

Chief minister Chavan said: "this was a wrong judgment at that time", adding that the adjustment of VAT norms would help the industry.

"So far, we have invested 400 billion rupees in the Chakan plant and are looking for an additional 400 billion rupees over the next seven years," Mahindra said

With the pouring of new investment, employment opportunities will also increase. Mahindra's investment of 400 billion rupees will create 2500 jobs, while Tata Motors will further add jobs to 1200 people. In addition, with the 151 billion rupees invested by Germany, the Volkswagen plant will have 570 new openings.

When bidding to pour out the country's investment, the Chavan government signed 32 contracts with Bosch, Mercedes, helm umtram steel and other companies in February, with an investment of 2385 billion rupees.