Home World Economy Richard Branson coming as Maharashtra summit attracts big names

Richard Branson coming as Maharashtra summit attracts big names

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MUMBAI: Come February 18, Sadhguru Jaggi Vasudev would be rubbing shoulders with Richard Branson of Virgin Atlantic. The Maharashtra government is pulling out all stops to make its investment summit, Magnetic Maharashtra, a big success by roping in some big names. Besides Indian CEOs and industrialists like Mukesh Ambani, who have confirmed have already confirmed their presence, global stars like Tonino Lamborghini would also light help up the event.

The state government is trying to get in US President Donald Trump’s son, Donald Trump Jr, to attend the event. With Prime Minister Narendra Modi, who is going to be inaugurating the event, the state government is going all out to make the event a success. The crowning glory is of course Richard Branson, chairman of Hyperloop One, the company in talks with the Maharashtra government to build the country’s first Hyperloop track between Mumbai and Pune. A pre-feasibility study has already been done, said officials, and a agreement for a feasibility study will be signed with Branson’s company during the summit. The MOU would be for about $5 million.

The Maharashtra government believes the feasibility study could be completed in a few months and they could issue tenders for the construction of the track before the year-end. Others who are coming for the event are Tonino Lamborghini of Lamborghini. Edward Monser, president of Emerson, Hande Diltemiz, country manager, Global production, India,H&M, Cho Hyun-Joon, chairman, Hyosung Group and Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World.

Maharashtra government officials said they are also lobbying to rope in Donald Trump Jr for the event. “We are trying for it, but it looks iffy because Trump Jr is only coming to Mumbai on February 22nd, since Magnetic Maharashtra is a three day even that begins on February 18th, attempts are being made to convince him to arrive two days earlier. However, as of now, it looks unlikely,” said a government official who did not want to be identified.

The state plans to sign close to 4,500 MOUs and is get investments upwards of Rs 10 lakh crore. CII is the national partner partner for this event. Sanjay Sethi, CEO of Maharashtra Industrial Development Corporation said that a lot of interest has been generated about the summit. “We are working towards making Maharashtra a trillion dollar economy,” Sethi told ET.

“This is not just a summit about investments made, we are also looking at it is as a convergence meet with ideas being discussed,” Sethi added.

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