"Maharashtra Inks Investment MoUs Worth Rs 3.53 Trillion at Davos"

Maharashtra Chief Minister Eknath Shinde expressed unwavering determination on Friday to lead the state towards its ambitious goal of becoming a USD 1 trillion economy. The announcement came as the state government successfully secured investment Memoranda of Understanding (MoUs) totaling Rs. 3.53 lakh crore (USD 44 billion) during the World Economic Forum Annual Meeting.

The state not only signed 19 MoUs but also received an expression of interest for an additional investment of Rs 1 lakh crore, elevating the total investment commitments to Rs. 4.5 lakh crore (nearly USD 57 billion). This substantial investment has the potential to generate around two lakh jobs across various sectors, including electronics, IT, data centers, gems and jewelry, agriculture, automobiles, and renewable energy, as per an official statement.

Under the theme "Bringing Confidence during a Changing World," Chief Minister Shinde showcased Maharashtra as the premier investment hub during meetings with global political leaders, industry influencers, and decision-makers.

The formalized MoUs cover a diverse range of projects, including the establishment of a green hydrogen and ammonia plant by Inox Air Product, battery separator film manufacturing facility by BC Jindal, expansion of paper production capacity by a global natural resources conglomerate, and brewery business expansion by ABInBev.

Other significant MoUs involve the expansion of Dighi Port by Adani Group, JSW Steel's foray into 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.

The Chief Minister, concluding his visit, expressed satisfaction with the productive outcomes of the World Economic Forum, highlighting the diverse investments across sectors that 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," Shinde added.

Furthermore, MoUs were signed with India Jewellery Park Mumbai (IJPM) for a gems and jewelry park, expansion projects by Indospace Logistics and ALU TECH. Steel companies, including Llyod Metals, Surjagarh Ispat, Kalika Steel, Arcelor Mittal, and Million Steels Pvt Ltd, also committed to significant investments in the state.

In addition, the Swiss India Chamber of Commerce (SICC) and an eight-company Swiss delegation inked an MoU, exploring investment opportunities across multiple sectors. Chief Minister Shinde also held meetings with dignitaries including the Prince of Liechtenstein, Oman Minister for Industries, UAE Minister of Economy, and the Governor of Gyeonggi Province in South Korea."

BS