maharashtra-seals-6-25-lakh-crore-investment-deals-at-wef-on-day-1

Maharashtra has secured 31 Memorandums of Understanding (MoUs) for investments worth over Rs 6.25 lakh crore at Davos, Switzerland, Chief Minister Devendra Fadnavis informed on January 22.

 

These agreements span sectors such as automotive, steel, defence, electric vehicles, renewables, and electronics.

 

The list of companies that have signed agreements with the state government includes Tata Group, Ceat, Essar Renewables, Bharat Forge, Welspun Corp, Reliance Infra, and Olectra Greentech.

 

Tata Group plans to invest up to Rs 30,000 crore, Essar Renewables signed a MoU worth approximately Rs 8,000 crore, UPL plans a total investment of Rs 6,500 crore, and Powerin Urjaa has committed to Rs 15,300 crore in renewable energy projects.

 

Olectra Greentech is exploring investments of up to Rs 3,000 crore for electric vehicle projects.

 

Chief Minister Fadnavis called Maharashtra the 'powerhouse of the Indian economy', highlighting its rise as the 'data centre capital of India', housing 60% of the nation’s capacity.

 

Maharashtra is creating history..🚩
Maharashtra bags whopping ₹6,25,457 crore of investments at Davos in just one day under the leadership of CM Devendra Fadnavis !
And this is just the beginning…
To be contd…@Dev_Fadnavis @wef#WEF25 #UnstoppableMaharashtra #MahaAtDavos pic.twitter.com/SNJGGdoIHt

— CMO Maharashtra (@CMOMaharashtra) January 21, 2025

 

Four additional data centres are planned in the New Mumbai region, with a total cost of Rs 75,000 crore.

 

JSW Group is also set to invest $35 billion in Maharashtra to expand in the electric vehicle and green energy sectors.

 

The state is also planning to establish an ‘Innovation City’, similar to Gujarat’s GIFT City, as announced by CM Fadnavis.

 

There is a growing optimism among global investors towards India, with states competing for foreign capital, which CM Fadnavis described as beneficial for the nation’s overall development.

 

In the first six months of FY25, Maharashtra attracted more foreign investment than Karnataka, Gujarat, Delhi, and Tamil Nadu combined.

 

The total foreign investment during this period was Rs 1.13 lakh crore, accounting for 31% of the total inflow between April and September.

 

A report by Wealth 360 highlighted Maharashtra’s emergence as the largest investment destination for startup investments in FY24.

 

Maharashtra’s $500 billion economy is the largest for any state in India.

 

However, a recent World Bank report noted that just seven of its 36 districts contribute more than half of the state’s GDP.

 

The state aims to achieve a $1 trillion economy by 2028-30.