MUMBAI: Maharashtra has emerged as the top destination for foreign direct investment (FDI) in India during the first half of the 2024-25 fiscal year, attracting Rs 1.13 lakh crore, according to data shared by chief minister Devendra Fadnavis.
The state has bagged 31 per cent of FDI inflow into the country during the period, followed by 21 per cent by Karnataka, 21 per cent by Gujarat, 13 per cent by Delhi and 5 per cent by Tamil Nadu. Total FDI inflows into India during the first half of the fiscal year amounted to Rs 4,596,537 crore.
Between October 2019 and September 2024, Maharashtra attracted Rs 6,45,664 crore in FDI, representing 31.48 per cent of the national total. Karnataka and Gujarat ranked second and third, with shares of 20.79 per cent and 16.44 per cent.
“In 2022-23, Maharashtra received Rs 1.18 lakh crore FDI that increased to Rs 1.25 lakh crore in 2023-24. Within six months of 2024-25, it received Rs 1.13 lakh crore FDI. It will surpass the previous year’s FDI records. This shows that Maharashtra was always favourite destination for FDI. It is on the top and will remain on the top when it comes to FDI,” said Fadnavis.
He said the growth of the state will continue under the MahaYuti government. Earlier, Fadnavis asked all departmental secretaries to prepare 100-day plans for development. In the meeting, he told the secretaries to suggest where their departments are lagging and where they need to focus for growth.
Fadnavis’s remarks appear to counter criticism from the opposition Maha Vikas Aghadi (MVA), which accused the ruling coalition of failing to attract investments. During last year’s Lok Sabha and assembly elections, the opposition claimed Maharashtra was lagging behind other states due to state government policies.
Sources said Fadnavis asked the secretaries not to clear files involving expenses of more than Rs 5 crore. “CM Fadnavis wants to restrain expenditure where it is not required. In coming days, the state finances will be tightened and growth will be given a push,” a secretary said.
“Political stability is important and this government has got the huge mandate that will send the right message to investors who are eager to invest in Maharashtra. Fadnavis has a bigger opportunity to showcase his talent and leadership skill to push the growth of Maharashtra once again,” officer said.
Despite the positive numbers, opposition leaders remained critical. Maharashtra Congress general secretary Sachin Sawant alleged that the central government’s policies favoured Gujarat. “Maharashtra has always led in FDI and never competed with Gujarat,” Sawant said.