With a 29% rise, Maharashtra tops in FDI this year

Deputy Chief Minister Devendra Fadnavis said that the state is number one again in attracting FDI. Maharashtra has got Rs 1.18 lakh crore investments in 2022-2023.

Published: 07th June 2023 07:51 AM  |   Last Updated: 07th June 2023 09:01 AM   |  A+A-

FCRA, Foreign Investment, FDI, NGO investment

Image for representational purpose only.

Express News Service

MUMBAI: After lagging behind in attracting foreign investment for a few years, Maharashtra once again topped in getting foreign direct investment (FDI) with a 29% share across India.

Deputy Chief Minister Devendra Fadnavis said that the state is number one again in attracting FDI. Maharashtra has got Rs 1.18 lakh crore investments in 2022-2023.

“As per the findings of the Department of Industrial Policy and Promotion (DIPP) report, Maharashtra has secured the highest share of FDI at 29%, surpassing states like Karnataka with 24% and Gujarat with 17% while Delhi has 13%. We will continue to attract the FDI and will make Maharashtra the favourite destination for investment,” Devendra Fadnavis added.

Fadnavis said Gujarat was ahead a few years back, but now Maharashtra is. He said there is healthy competition among all states to get the investment. “Gujarat is not Pakistan. It is our brother state. It was earlier a part of Maharashtra only but got separated. So, we are competing with Gujarat, Karnataka and other states of India to get more and more investment,” he added.

Moreover, the Maharashtra government also signed a Memorandum of Understanding for 13,050 MW Hydro Pumped Storage projects with National Hydro Power Corporation (7,350 MW) & Torrent Power (5,700 MW). The agreement was signed by the officials from the Power Ministry, NHPC and Torrent Power.

“Maharashtra will get a total investment of Rs 71,000 crore and it will generate 30,000 employments besides, increasing the electricity demand of agriculture, industry and commercial sector as well. Environmental conservation through green and clean energy generation will happen. Maharashtra will be self-reliant in meeting grid balancing, meeting the peak power demand,” said Fadnavis.

He also commented on the previous Uddhav Thackeray-led Maha Vikas Aghadi government’s tenure. “Earlier governments lacked confidence and did not have effective leadership. This decline led to a dip in investor confidence. Corruption and blackmailing incidents tarnished the state’s image, both domestically and internationally.”


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