The Maharashtra Government has put on hold a Memorandum of Understanding,MoU signed with three Chinese companies last week in view of the tense border situation.
In a statement, Maharashtra’s Industry Minister Subhash Desai clarified that maintaining status quo on projects does not mean cancellation of MoUs. Hours before violent clashes broke out between Indian and Chinese soldiers in Galwan Valley, Maharashtra had signed agreements with Hengli Engineering, PMI Electro Mobility Solutions JV with Photon and Great Wall Motors for developing industrial units in Talegaon in Pune district.
The MoUs worth five thousand and 20 crore rupees were signed under the Magnetic Maharashtra 2.0 Investor Summit. The Minister has said that the State Government is awaiting clear policy guidelines from the Centre in this regard.
