(MENAFN- KNN India)
Mumbai, Jan 23 (KNN) At the World Economic Forum in Davos, Switzerland, the Maharashtra government achieved a significant milestone by securing memorandums of understanding (MoUs) totaling Rs 9.30 lakh crore with various global and domestic corporations, marking an unprecedented single-day investment commitment for the state.
Chief Minister Devendra Fadnavis spearheaded the investment drive, initially signing agreements worth Rs 6,25,457 crore on the first day, which subsequently expanded to the total Rs 9.30 lakh crore figure.
"This is a new record for securing such a significant investment amount in a single day," Fadnavis emphasised, highlighting the state's robust economic potential.
The investment portfolio demonstrated remarkable diversity, with key corporate leaders expressing substantial interest across multiple sectors. The Tata Group, under Chairman N Chandrasekaran's leadership, confirmed a Rs 30,000 crore investment in Maharashtra.
Notably, the Reliance Industries Limited (RIL) signed an expansive MoU worth Rs 3,05,000 crore, promising over 3,00,000 employment opportunities across new energy, retail, hospitality, and high-tech manufacturing domains.
Strategic discussions encompassed various critical sectors. ReNew Power explored a 15,000 MW pipeline and wind energy projects in Beed district.
Schneider Electric India deliberated on artificial intelligence applications in the energy sector and potential collaboration to strengthen industrial training institutes. International corporations like Carlsberg Group, Louis Dreyfus Company, and Mastercard also engaged in exploratory conversations about potential investments.
The Lulu Group's Managing Director, M.A. Yusuff Ali, expressed interest in expanding operations in Nagpur, further underscoring Maharashtra's attractiveness to global investors. Cognizant's CEO Ravi Kumar S also participated in discussions exploring potential collaborative opportunities.
A noteworthy diplomatic engagement occurred when Fadnavis met former UK Prime Minister Tony Blair, discussing public transport, energy transition, and Maharashtra's ambitious renewable energy goals.
Fadnavis highlighted the state's commitment to sourcing over 50 percent of its energy from renewable sources, positioning Maharashtra as a progressive economic powerhouse.
However, political opposition emerged, with Maharashtra Congress president Nana Patole questioning the substantive nature of these MoUs.
He challenged the government to demonstrate actual ground-level investments and raised concerns about the predominantly domestic composition of signing entities.
Anant Ambani, in a video message, lauded Prime Minister Narendra Modi's vision of a transformative "Viksit Bharat" and commended Fadnavis for positioning Maharashtra as a gateway to India's anticipated USD 5 trillion economy.
The comprehensive investment drive at Davos underscores Maharashtra's strategic approach to attracting global capital, diversifying its economic landscape, and reinforcing its position as a premier investment destination within India's rapidly evolving economic ecosystem.
(KNN Bureau)
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