Mumbai: Maharashtra made its mark at the World Economic Forum’s India Pavilion in Davos, securing record-breaking investment agreements worth ₹15.75 lakh crore with major global corporations. This is expected to generate 15.98 lakh jobs across the state, Chief Minister Devendra Fadnavis said. He expressed gratitude to the people of Maharashtra for their support and acknowledged the opportunity to represent the state on this global platform.
CM Fadnavis announced that Maharashtra is poised to become the data center capital of the world. “Data is the new oil of this era, and this sector will witness exponential growth,” he added.
The announcement was made during a virtual press conference from Davos, with Industry Minister Uday Samant joining from Mumbai.
Acknowledging Key Figures
CM Fadnavis began by paying homage to Shiv Sena founder Balasaheb Thackeray on his birth anniversary. He also thanked Prime Minister Narendra Modi for the opportunity to represent Maharashtra alongside six other Indian states at the forum. He noted that India’s global perception has significantly improved due to PM Modi’s leadership.
Collaborative Efforts with Other States
Participating in the “Country Dialogue” session alongside Andhra Pradesh Chief Minister Chandrababu Naidu and Telangana Chief Minister Revanth Reddy, CM Fadnavis emphasized presenting India as a united front to attract global investments. The session showcased each state’s strengths, development strategies, and opportunities to potential investors.
Water Conservation Initiatives
The chief minister highlighted Maharashtra’s water conservation efforts, including the “Jalyukt Shivar Abhiyan,” showcasing the state’s progress and dedication to securing a sustainable future.
Record-Breaking Investment Agreements
CM Fadnavis expressed pride in Maharashtra’s achievement of securing record-breaking investment agreements. He emphasized that while the average success rate of implementing such agreements is 40% nationally, Maharashtra has achieved a 65% success rate. He credited the groundwork laid during former Chief Minister Eknath Shinde’s tenure, which had a 95% implementation rate.
The investments are expected to transform regions across the state:
• Mumbai Metropolitan Region (MMR): ₹6 lakh crore
• Vidarbha: ₹5 lakh crore
• North Maharashtra: ₹30,000 crore
• Marathwada: Positioned as a manufacturing hub
Why Davos?
Addressing questions on why agreements were signed in Davos, CM Fadnavis explained that the forum provides a unique platform for global networking. While many of the companies are Indian, their international partners and investors were present at Davos, making it an ideal venue for discussions. He emphasized that 95% of the investments secured for Maharashtra come from foreign sources.
Focus on Artificial Intelligence and IT
CM Fadnavis highlighted several agreements to establish Maharashtra as a leader in artificial intelligence and IT. Google has committed to building an innovation city in Navi Mumbai, and a center of excellence for AI has already been set up in collaboration with the company. He reiterated that data, being the “new oil,” will play a crucial role in economic growth. Discussions with global CEOs underscored the employment potential in this sector.
Environmentally Sustainable Development
The chief minister assured that all investments prioritize environmental sustainability, focusing on green energy, hydro energy, and solar energy projects. Maharashtra is also leading the way in energy transition, aiming to increase clean energy production from 13% in 2022 to 25% by 2030, with a long-term goal of 50%. The state is set to become a hub for electric vehicles (EVs) and solar energy initiatives.
Appreciation for the Team
CM Fadnavis praised the efforts of Industry Minister Uday Samant, the MIDC team, and advisory firms for their hard work in securing these investments. He highlighted their exceptional coordination with multinational companies and international agencies.
Highlights of Davos Engagements
• Sumitomo Group (Japan): ₹43,000 crore investment in infrastructure in Maharashtra.
• MMRDA Projects: Focused on boosting infrastructure development in Mumbai.
• Japan-Maharashtra Collaboration: Reinforcing partnerships and mutual goodwill.
The partnership with Sumitomo Group, led by President Koji Nishima, showcased the group’s ongoing commitment to Maharashtra and its people.
With these developments, Maharashtra continues to solidify its position as India’s most attractive investment destination and a global leader in innovation and sustainability.
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