IMC welcomes the Power Tariff Reduction in Maharashtra

Indian Merchants’ Chamber (IMC) welcomes the Maharashtra Government’s decision to lower electricity rates.

In January of this year IMC wrote to the Hon’ble Chief Minister Mr. Devendra Fadnavis requesting for a reduction in the power charges in Maharashtra. We are glad that our suggestion has been accepted.

Power is a key ingredient for the growth of manufacturing and the economy in general, and access to reliable power supply at a competitive price is a prerequisite for the entire development process. It is gratifying to note that the lower power tariff is not just for industry, but across the board.

IMC President Mr. Dilip Piramal said, “It is heartening to note that the Government of Maharashtra has addressed the issue of rising costs of power in the State. After taking some measures for enhancing the ease of doing business in the State, this is certainly another step in the right direction, which will help promoteMake in Maharashtra, and thus, Make in India. It is imperative that the State retains its competitive edge”.

Given that Maharashtra contributes over 14% of India’s GDP, this measure will go a long way in positively impacting both the State and the national economy in the coming years.