Maharashtra Signs Investment MoUs Worth Rs 14.5 Lakh Crore On First Day At WEF Annual Meet

Mumbai: Maharashtra government on Monday signed 19 Memorandums of Understanding (MoUs) involving investment commitments worth Rs 14.5 lakh crore and over 15 lakh jobs, on the first day of the annual meeting of the World Economic Forum (WEF) at Davos, Switzerland.

Accompanied by Industries Minister Dr Uday Samant and a high-level delegation, Chief Minister Devendra Fadnavis inaugurated the state pavilion and highlighted that Maharashtra's reliability is its greatest strength. "We do what we say. This consistency has bolstered the confidence of global entrepreneurs," he said, adding that the state serves as the "Gateway of India" for international investors.

Sharing the details, CMO said in a release that these MoUs are across sectors and underscore strong global confidence in Maharashtra's consumer markets, infrastructure readiness, and long-term growth fundamentals.

CM Fadnavis said Maharashtra is getting a very good response and that he feels there will be more MoUs this time, involving higher investment commitments, across diverse sectors. "All types of investments are coming, whether it is manufacturing, data centers, or infrastructure. And I think that we have had some discussions with people, and some discussions will also happen here, and then maybe our discussions will be finalised here, and later we will do it after going to India," he added.

As per CMO, the Chief Minister noted that while Maharashtra competes healthily with other Indian states, it remains at the forefront of attracting foreign direct investment (FDI). CM Fadnavis projected that Maharashtra is on track to become a $1 trillion economy by 2030, two years ahead of the initial 2032 target, maintaining a growth rate of over 10 percent for the past decade.

Citing that Maharashtra has accounted for 39 percent of India's total FDI last year, the CM credited this to 16 investor-friendly policies that have created a robust and credible business environment. Breaking the industry norm where only 25-30 per cent of MoUs typically materialise, Maharashtra boasts a conversion rate of 50-55 per cent overall, and an impressive 75-80 per cent for agreements signed at Davos, he said. The Chief Minister also detailed several "game-changing" projects currently underway.

"We are a gateway for Indian businesses to meet their foreign counterparts," he said while also extending his best wishes for other Indian states seeking investments here. Asked about his victory in BMC polls and whether there would be any special MOUs for Mumbai here, the chief minister said, "They are definitely going to happen and especially the 'Third Mumbai' that we are building."

For this 'Third Mumbai', we are seeing large-scale investment, because today, especially international funds, are looking at India as a very important destination for investment, he said. "Because the infrastructure we have prepared, and especially the airport of New Mumbai, our Atal Setu, and the rest of the infrastructure that has been prepared, is creating a very large urban agglomeration," he said.

"I mean, if I say, an entire area of about 675 square kilometers has opened up, where we want to settle a new Mumbai, in a way. There we are preparing EduCity, there we are preparing MediCity, we are preparing Sports City, there we are preparing Innovation City, there we are preparing GCC city.

"So I feel that such a theme-based approach of ours is big, in which a lot of investment will also come and very good, high-paid jobs will also be created there," he added. He welcomed a healthy competition among states for investment.

"Because ultimately, investment should come to India only, this is our first goal, and our interest is Maharashtra, so we will try to ensure that it comes to Maharashtra," he said. On tariffs, he said it is a separate issue, on which we are also helping some industries that have problems. "But overall, I don't believe that it has such an effect that investment is completely stalled," he said. (With PTI Inputs)

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