Maharashtra Welcomes British Tech Companies to LTW 2023 with Exclusive UK Zone and Incentives for Startup Hostels

At London Tech Week 2023, where UK Prime Minister Rishi Sunak unveiled significant tech-business related updates, the Maharashtra government was the sole Indian state delegation in attendance.

The Maharashtra government delegation to London Tech Week 2023 was led by Minister Uday Samant, who is currently in charge of Industry. This delegation was seen actively hosting meetings with key stakeholders and industry players in the UK to attract investment to India. It also announced a new IT policy for Maharashtra with special emphasis on infrastructure and skill development.

This delegation had clear priorities: to attract British technology companies to Maharashtra by offering them tangible incentives, access to India’s diverse IT talent, upgraded infrastructure and support for start-ups.

WATCH VIDEO: UK wants to work with Indian startups: Trade Commissioner Harjinder Kang

Maharashtra’s larger aim is to expand its own ‘Silicon Valley’ by presenting itself as a more competitive destination compared to Bengaluru, where property rents have risen over the years and infrastructure bottlenecks are now becoming a serious obstacle. The delegation promoted areas like Pune, Greater Mumbai, Thane, Nagpur, Nashik, Aurangabad and Wardha among others.

Together with Minister Uday Samant, Maharashtra Industrial Development Corporation (MIDC) CEO Dr. Vipin Sharma and Deepender Singh Kushwah, Development Commissioner (Industries) and Export Commissioner, Government of Maharashtra highlighted the importance of key infrastructure like 700 in the state. km Mumbai–Nagpur Expressway (Maharashtra Samruddhi Mahamarg), which will reduce the travel time between Mumbai and Nagpur from 16 hours to 8 hours.

Interestingly, this expressway connects key areas that could become India’s next major industrial corridor. The MIDC CEO said the state government is considering creating “nodes” on this expressway and is willing to have exclusive areas to connect different companies from the same foreign country. Two such nodes promoted by the state government are AURIC (Aurangabad) and Dighi (Raigad).

“We understand the convenience of doing business in a foreign country with familiar people around you. We are ready to have an exclusive ‘UK zone’ along the corridor where all companies operating in the UK can work together. Not just the UK, even companies from South Korea or Japan or others can have their own industrial estate, said Dr Vipin Sharma, MD, MIDC.

“Maharashtra government is ready to provide all possible support to companies who want to open offices in India. Most of the UK-based companies operating in India are based in Maharashtra. Notable UK-based IT companies such as BT, Vodafone, Revolut, Barclays, Colt and ARK, are already in Maharashtra and we are taking this opportunity at London Tech Week to welcome more British companies to India,” said Deepender Singh Kushwah, Development Commissioner. (Industries) and Export Commissioner, Government of Maharashtra.

Key Aspects of Maharashtra’s New IT Policy Announced in 2023

To fuel this Maharashtra IT corridor, the delegation also shared a plan to provide easy access to India’s IT talent. One concept that was brought up was the creation of “startup hostels”. This helps early-stage companies to save on office rent and housing and to focus on product development.

The delegation explained this as a “Walk to Work” initiative, where eligibility criteria (60:40/50:50) and space use norms are relaxed to support the future workforce and enable integrated working, living and social activities. premises.

“We are also enabling IT units to work 24 x 7, decongesting urban centers through Walk to Work complexes and support talent generation in growth centers in the state,” Kushwah added.

The government will set up the Maharashtra Hub (MHub), an initiative to promote innovation in emerging technologies and make the state a knowledge-based economy, with a fund of Rs 500 crore.

“The Chief Operating Officer (COO) under M-Hub will be appointed as Maharashtra’s technology ambassador to drive policy and performance,” added Dr. Sharma.

The state government is also focusing on creating the Maharashtra Information Technology Interface (MAHITI), a single window system for end-to-end support for all IT units. Supporting existing colleges, skill institutes and training centers to launch competitions and hackathons in Maharashtra and provide a platform for talent growth.

India’s IT industry is mostly considered a backend and service segment, but the government is working to change that. It promotes “Super Specialised” job roles in areas such as AI researchers, solution architects, data scientists, optical scientists, embedded, solution engineers, etc.

To promote future skills, the state government stated that nationally competitive incentives will be provided to AVGC and Emerging Technologies sectors.