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Maharashtra signs investment MoUs worth Rs 3.53 lakh crore at Davos

Davos: Maharashtra Chief Minister Eknath Shinde on Friday said he is resolute in leading the state to its ambitious target of becoming a USD 1 trillion economy as the state government secured investment MoUs worth Rs 3.53 lakh crore (USD 44 billion) this week at the World Economic Forum Annual Meeting.

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The state also received an expression of interest for an additional Rs 1 lakh crore investment, taking the total to Rs 4.5 lakh crore (nearly USD 57 billion) with a potential to create about two lakh jobs across sectors, including electronics, IT, data centres, gems and jewellery, agriculture, automobile and renewable energy, an official statement said.

During his visit here accompanied by Industries Minister Uday Samant and several senior officials, Shinde signed 19 MoUs (Memoranda of Understanding).

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Presenting Maharashtra as the premier investment hub under the theme “Bringing Confidence during a changing World”, Shinde held meetings with a large number of global political leaders, industry leaders and decision makers.

The state government formalised MoUs worth Rs 3,53,675 crore and received an expression of interest for an additional Rs 1 lakh crore investment.

These include setting up a green hydrogen and ammonia plant by Inox Air Product, battery separator film manufacturing facility by BC Jindal, paper production capacity expansion by a global natural resources conglomerate and brewery business expansion by ABInBev.

Other MoUs pertain to Dighi Port expansion by Adani Group, JSW Steel in renewables, Godrej Agrovet’s investment in cattle feed expansion and chemical segments, CtrlS Data centers setting up solar parks, Web Werks investment in IT/ITES Data Center and Hyundai Motor’s expansion plans.

Concluding his visit, Shinde said, “My visit to the World Economic Forum proved highly productive. The diverse investments across sectors reaffirm Maharashtra’s unique position as India’s gateway.

“I am resolute in leading the state’s initiatives to achieve our ambitious USD 1 trillion GDP goal. The future holds promise, and I am enthusiastic about propelling Maharashtra’s ongoing success on the global stage which is only possible because of the amazing and talented people in Maharashtra,” he added.

MoUs were also signed with India Jewellery Park Mumbai (IJPM) for a gems and jewellery park, expansion by Indospace Logistics and ALU TECH.

Steel companies, including Llyod Metals, Surjagarh Ispat, Kalika Steel, Arcelor Mittal and Million Steels Pvt Ltd, also signed MoUs for significant investments in the state.

Swiss India Chamber of Commerce (SICC) and an eight-company Swiss delegation also signed a MoU for exploring investment in multiple sectors.

Shinde also held meetings with Prince of Liechtenstein, Oman Minister for Industries, UAE Minister of Economy UAE, and the Governor of Gyeonggi Province of South Korea.

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