
The Maharashtra government signed 32 memorandums of understanding (MoU) worth Rs 9.30 lakh crore with various firms at the World Economic Forum at Davos in Switzerland.
According to the Maharashtra chief minister's office, on the first day of the World Economic Forum, Chief Minister Devendra Fadnavis signed investment agreements worth Rs 6,25,457 crore. Subsequently, the total investments have gone up to Rs 9.30 lakh crore.
“This is a new record for securing such a significant investment amount in a single day and several investment agreements are expected on the second day as well,” Fadnavis said.
Fadnavis met key executives of several companies and invited them to invest in Maharashtra.
Tata Group Chairman N Chandrasekaran held discussions with Fadnavis, during which it was confirmed that it would invest Rs 30,000 crore in the state. Fadnavis also met Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra. The Chief Minister assured him of full cooperation for the group’s plans.
Additionally, M.A. Yusuff Ali, Managing Director of the Lulu Group, conveyed interest in investing in Nagpur and expanding operations in Maharashtra.
Fadnavis held discussions with ReNew Power Chairman and CEO Sumant Sinha about a 15,000 MW pipeline and wind energy projects in Beed district.
Schneider Electric India’s Managing Director and CEO Deepak Sharma also met the Chief Minister. Discussions included the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Expansion plans in Ahilyanagar and Nashik were also hinted at.
Mastercard APAC President Ling Hai held talks with Fadnavis, while Louis Dreyfus Company CEO Michael Gelchie discussed opportunities in agriculture, food processing, international shipping, and financial sectors. Emphasis was placed on enhancing collaboration in agriculture.
Fadnavis also discussed potential investments and opportunities with Cognizant CEO Ravi Kumar S.
The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development.
Fadnavis also met former UK Prime Minister Tony Blair. “We had an insightful discussion on public transport, energy transition, with Maharashtra at the forefront, set to source over 50% of its energy from renewables soon. Mr. Blair expressed his eagerness to visit India soon, and we also discussed India’s progress, the Davos agenda, and Maharashtra’s role as a powerhouse. Moving from 48GW to 78GW, energy transition remains a key focus for our future,” said Fadnavis.
The Maharashtra government also signed an MoU with RIL worth Rs 3,05,000 crore, with over 3,00,000 employment opportunities across diverse sectors, including new energy, retail, hospitality and high-tech manufacturing. Anant Ambani in his video message lauded PM Narendra Modi for his transformative efforts in building a Viksit Bharat, with RIL committed to contributing to a New India. “CM Devendra Fadnavis is leading the state with his leadership in positioning Maharashtra as the gateway to India’s $5 trillion economy and, soon to be first trillion-dollar economy,” he added.
Maharashtra Congress president Nana Patole said signing MoUs is fine, but asked what are the actual investments that take place on the ground. He said many firms that signed MoUs are from India, asking why these firms signed the MoUs in Switzerland and not in Maharashtra. “It shows that the state government just wants to inflate the MoUs and investment amount to misguide the people. However, the reality is completely different,” Patole said.