India, Aug. 11 -- To promote industrial development and investments, the Maharashtra government has recently formulated a new mechanism that entails a three-tier system for the timely disposal of investment applications. It encompasses MAITRI (Maharashtra Industry, Trade and Investment Facilitation Cell), an empowered committee, and a supervisory committee.

The committees will facilitate investors, monitor progress of memoranda of understanding, prepare benchmark study reports according to globally recognised best practices, and collaborate with national and foreign embassies, consulates, industry associations, and ministers of other countries to identify potential investors and generate investments in the state, among others.

The nine-...