MUMBAI: In a major boost to its investment drive, Maharashtra, which of late has lost the top notch rank as the best investment destination to its neighbours, has inked investment agreements worth around $50 billion at the India Global Forum, held in Mumbai, on Tuesday.
Chief minister Devendra Fadnavis said, of the total from both domestic and international investors, five of them largest investment deals totaling $49.02 billion were signed by the Mumbai Metropolitan Region Development Authority (MMRDA) for infrastructure development in the Mumbai metropolitan region.
The proposed investments include the $18.09-billion with Housing and Urban Development Corporation, (Hudco), a $12.06 billion investment agreement with REC; a $12.06 billion deal with Power Finance Corporation; a $6.03 billion with Indian Railway Finance Corporation; and an $843-million with the National Bank for Financing Infrastructure and Development (Nabfid), Fadnavis said.
Other consumer sector investment include Magnum Ice Cream Company, a division of Unilever and the world’s largest ice cream brand group, to establish its India headquarters in Mumbai, which will also serve as the regional HQs for the Middle East, Turkey, and South Asia.
The agreement also includes the company setting up a global capability center in Pune with an investment of $108.4 million, to help the company consolidate global business services and innovation. The facility is expected to create over 500 direct jobs by 2029.
Addressing the gathering, he said, “today is better than yesterday and tomorrow will be better than today. We are interacting with our investors; they are confident and bullish.”