Maharashtra Is India's Gateway For Foreign Investment: CM Fadnavis

(MENAFN- IANS) Davos, Jan 19 (IANS) Asserting Maharashtra's dominance as a premier global investment destination, Chief Minister Devendra Fadnavis on Monday stated that the state serves as the "Gateway of India" for international investors.

Speaking to the media at the Maharashtra Pavilion during the World Economic Forum (WEF) Annual Meeting in Davos, the Chief Minister expressed immense confidence in the state's "ecosystem of trust" and its trajectory towards becoming a trillion-dollar economy.

Accompanied by Industries Minister Dr Uday Samant and a high-level delegation, CM Fadnavis highlighted that Maharashtra's reliability is its greatest strength.

"We do what we say. This consistency has bolstered the confidence of global entrepreneurs," he said.

As per the release issued by the CMO, the Chief Minister noted that while Maharashtra competes healthily with other Indian states, it remains at the forefront of attracting foreign direct investment (FDI).

CM Fadnavis projected that Maharashtra is on track to become a $1 trillion economy by 2030, two years ahead of the initial 2032 target, maintaining a growth rate of over 10 per cent for the past decade.

Maharashtra accounted for 39 per cent of India's total FDI last year.

The CM credited this to 16 investor-friendly policies that have created a robust and credible business environment.

Breaking the industry norm where only 25-30 per cent of MoUs typically materialise, Maharashtra boasts a conversion rate of 50-55 per cent overall, and an impressive 75-80 per cent for agreements signed at Davos, he said.

The Chief Minister detailed several "game-changing" projects currently underway.

"Plans are in motion to develop an Edu-City, Innovation City, Medicity, and Sports City near the upcoming Navi Mumbai International Airport. This cluster is expected to generate 3.5 million high-paying jobs. Maharashtra currently hosts 60 per cent of India's data centre capacity. The state aims to expand this further through green energy initiatives," said the Chief Minister.

He said that the Vadhavan Port, which is set to be one of the top 10 ports globally and three times the size of JNPT, will secure India's supply chain for the next century.

The first phase is expected to be operational within three years.

Recognising MSMEs as the backbone of the economy, CM Fadnavis emphasised that the government is providing not just capital, but a track record of reliability.

He also touched upon the "New Urbanism" vision inspired by PM Modi, noting that since 65 per cent of the GDP is generated around cities, improving the quality of life in Maharashtra's 29 municipal corporations is vital for economic momentum.

The Chief Minister assured investors of "zero tolerance" regarding law and order, ensuring that every investment in Maharashtra is safe, secure, and future-ready.

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