Maharashtra bamboo industry policy eyes to attract Rs 50,000 cr investment and create 5 lakh jobs

Mumbai, Oct 14 (PTI) The Maharashtra cabinet on Tuesday approved its bamboo industry policy, which aims to attract an investment of Rs 50,000 crore and generate more than 5 lakh jobs.

Under the Maharashtra Bamboo Industry Policy-2025, as many as 15 dedicated bamboo clusters will be developed across the state, with a focus on leveraging the carbon credit market, an official release stated.

The five-year policy seeks to promote bamboo cultivation and processing industries, offering farmers an eco-friendly and sustainable income alternative comparable to cash crops, it said.

The policy, aligned with the National Bamboo Mission and Maharashtra Mission 2023, is expected to attract Rs 50,000 crore in investment and generate over five lakh direct and indirect jobs.

Other key features of the policy include promotion of bamboo use in contract farming, energy, industrial, and household sectors; development of anchor units and Common Facility Centres (CFCs) for farmers and micro CFCs in remote areas for artisans; collaboration with agricultural universities and international institutions for research, training and development.

Financial incentives including interest subsidies, electricity concessions, and reduced stamp duties for bamboo-based industries; a Rs 300 crore venture capital fund to support start-ups and MSMEs in the bamboo sector; planned use of 5 to 7 per cent bamboo biomass in thermal energy projects, and deployment of modern technologies like GIS, drones, tissue culture labs, and blockchain for value chain development, are some other focus areas of the policy.

The state has earmarked Rs 1,534 crore for implementing the policy during 2025-30, Rs 11,797 crore for the next 20 years, and Rs 50 crore for the current fiscal year, it said.

The state's bamboo cultivation currently spans 1.35 lakh hectares, with a production capacity of approximately 9.47 lakh tonnes in 2022, the statement added.

To enhance judicial efficiency, the cabinet approved the creation of 2,228 new posts for the Bombay High Court and its Nagpur and Aurangabad benches.

Of these, 1,717 are administrative positions. While 562 will be for the Mumbai main branch, 779 for the appeal branch, 591 for Aurangabad, and 296 for Nagpur, the statement said.

The positions cover Group A to Group D categories, and provisions have been made for salaries and associated expenses.

The cabinet also approved a development scheme for the People's Education Society, established by Dr Babasaheb Ambedkar.

The plan includes renovation, conservation, and modernisation of the society's educational institutions and hostels.

According to the release, nine educational institutions and two hostels located in Mumbai and Chhatrapati Sambhajinagar will be upgraded.

A budgetary provision of Rs 500 crore has been made for a period of five years, it said. PTI MR ARU NP