The state of Maharashtra secured 31 MoUs amounting to investments of more than ₹6.25 lakh crore at the World Economic Forum, Davos, in Switzerland. The deals span sectors including automotive, steel, defence, electric vehicles (EVs), renewables, and electronics, according to Chief Minister Devendra Fadnavis.
Signings of agreements in this regard from some of India’s leading organizations such as Tata Group, Ceat, Essar Renewables, Bharat Forge, Welspun Corp, Reliance Infra, Olectra Greentech along with the other entities have finalized agreements with the state.
Among the key investments:
- Tata Group plans to invest up to ₹30,000 crore.
- Essar Renewables signed an MoU for ₹8,000 crore.
- UPL committed ₹6,500 crore.
- Powerin Urjaa plans to invest ₹15,300 crore in renewable energy.
- Olectra Greentech aims to explore EV-related projects worth ₹3,000 crore.
Chief Minister Fadnavis referred to Maharashtra as the “powerhouse of the Indian economy,” highlighting its emergence as the “data centre capital of India,” with 60% of the country’s capacity. Plans for four additional data centres in Navi Mumbai, costing ₹75,000 crore, further bolster this claim.
Fadnavis also emphasized a growing optimism among global investors regarding India. He noted that competition among states to attract foreign capital is driving the nation’s development.
In the first half of FY25, Maharashtra outperformed states like Karnataka, Gujarat, Delhi, and Tamil Nadu by attracting ₹1.13 lakh crore in foreign investments—31% of the total inflow during April to September. A report by Wealth 360 showcased Maharashtra as a leading state to invest in its startups for the FY24 edition. Maharashtra had an economy amounting to nearly $500 billion, the highest of any of the Indian states, and will double it further to $1 trillion by the 2028-30 deadline, according to a recent report from the World Bank, who pointed out that Maharashtra’s economic output is concentrated solely in seven out of 36 districts.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com.
Source: Moneycontrol
News Desk
