Synopsis
The Maharashtra government has established a remarkable 31 MoUs at the World Economic Forum summit in Davos, with investment proposals totaling Rs 6,25,457 crore across various sectors. This initiative aims to drive substantial economic growth and job creation in the state.Key Takeaways
- 31 MoUs signed with Rs 6,25,457 crore investment.
- JSW and Tata Group leading with significant investments.
- Focus on renewable energy, infrastructure, and technology.
- Job creation estimated at over 60,000 across sectors.
- Commitment to Maharashtra's green transformation.
Mumbai, Jan 22 (NationPress) The Maharashtra government has formalized an unprecedented 31 MoUs with investment commitments totaling Rs 6,25,457 crore across sectors such as steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries, and Solar Modules during the World Economic Forum summit held in Davos.
These agreements were finalized on Tuesday in the presence of Chief Minister Devendra Fadnavis and high-ranking government officials.
CM Fadnavis stated, "The MoUs signed today set the stage for Maharashtra's extensive growth and development." He further emphasized that this achievement represents a new benchmark for securing such a substantial investment in a single day, with additional agreements anticipated on the following day.
Out of the total Rs 6,25,457 crore, JSW is poised to invest an astonishing Rs 3 lakh crore for Maharashtra's Green Transformation, while the Tata Group is set to contribute Rs 30,000 crore across various sectors.
The Chief Minister engaged with several top executives to encourage investment in Maharashtra. Notably, Tata Group Chairman N. Chandrasekaran confirmed during discussions with CM Fadnavis that the Group will invest Rs 30,000 crore in the state. Additionally, Carlsberg Group CEO Jacob Aarup-Andersen expressed interest in investing in Maharashtra, to which the Chief Minister assured full support for the group's initiatives.
Furthermore, M.A. Yusuff Ali, Managing Director of the Lulu Group, indicated plans to invest in Nagpur and expand operations within Maharashtra.
CM Fadnavis also deliberated with ReNew Power Chairman and CEO Sumant Sinha regarding a 15,000 MW pipeline and wind energy initiatives in Beed district. Discussions with Schneider Electric India’s Managing Director and CEO Deepak Sharma included the application of AI in the energy sector and enhancing ITIs through World Bank support. Potential expansion plans in Ahilyanagar and Nashik were also mentioned. Mastercard APAC President Ling Hai and Louis Dreyfus Company CEO Michael Gelchie also engaged with CM Fadnavis on opportunities in agriculture, food processing, international shipping, and finance, focusing on enhancing agricultural collaboration.
“This series of meetings underscores Maharashtra’s commitment to attract significant global investments and stimulate economic growth,” remarked the Chief Minister’s Office in a release.
In a post on X, CM Fadnavis expressed, “I am extremely pleased to witness the historic Rs 3,00,000 crore MoU signing between the Government of Maharashtra and JSW Group, which is expected to generate 10,000 jobs in Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Heartfelt thanks to Sajjan Jindal for being a part of this momentous event at Davos, which promises to significantly enhance Maharashtra's industrial landscape. The sectors involved in this investment, including Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules, will play a pivotal role in our mission for a 'Green Maharashtra'.
The government has also signed an MoU with Waaree Energy for a total investment of Rs 30,000 crore in green energy and solar components, which is expected to create 7,500 jobs. The company’s chairman, Hitesh Joshi, was present during the signing.
Moreover, an MoU was signed with Blackstone-Panchshil Realty for an investment of Rs 25,000 crore dedicated to data center development, generating 500 jobs. Additionally, Blackstone will invest another Rs 25,000 crore in Information Technology within the Mumbai Metropolitan Region, leading to the creation of 1,000 jobs.
The state government has inked an MoU with Erulearning Solutions for an investment amounting to Rs 20,000 crore in education. Furthermore, an MoU with ZR2 Group for Rs 17,500 crore in automobiles and EVs in the Pune region aims to generate 4,000 jobs.
In collaboration with Balasore Alloys Ltd, the state government signed an MoU for an investment of Rs 17,000 crore in steel and metals, which is expected to create 3,200 jobs. The agreement was represented by Satish Kaushik during the signing.
Additionally, an MoU was signed with Reliance Infrastructure Ltd for an investment of Rs 16,500 crore in the defence sector, generating 2,450 jobs, with representation from Sateesh Seth.
Powerin Urjaa will invest Rs 15,299 crore in green energy, leading to 4,000 jobs. Open Origin India Inc will also invest Rs 15,000 crore in green energy, anticipated to create 1,000 jobs.
Viraj Profiles Pvt Ltd signed an MoU with the state government for an investment of Rs 12,000 crore in steel and metals, aiming to generate 3,500 jobs. The signing was attended by Neeraj Raja Kochhar, Chairman and MD of Viraj Profiles.
Avani Power Batteries will invest Rs 10,521 crore in electronics, creating 5,000 jobs in Chhatrapati Sambhajinagar. H2e Power is set to invest Rs 10,750 crore in green energy, generating 1,850 jobs in the Pune region.
The government has signed an MoU with Rural Enhancers for an investment of Rs 10,000 crore in social sectors, including healthcare.
Furthermore, an MoU with Welspun for an investment of Rs 8,500 crore in logistics is expected to generate 17,300 jobs.
Essar, in conjunction with Blue Energy, will invest Rs 8,000 crore in green energy, creating 2,000 jobs.
Additionally, United Phosphorus will invest Rs 6,500 crore in green energy, generating 3,000 jobs. An MoU with Olectra EV for an investment of Rs 3,000 crore in automotive and EV is expected to create 3,000 jobs.
Kalyani Group will invest Rs 5,250 crore in defence, steel, and EV sectors, leading to the creation of 4,000 jobs. The MoU was signed in the presence of CM Fadnavis and Amit Kalyani, Vice-Chairman & Joint MD of Bharat Forge Limited. “Grateful to Amit Kalyani for joining this MoU signing at Davos! This investment is special as it is coming to Gadchiroli, promising better lives for many,” stated the chief minister.
Gensol will invest Rs 4,000 crore in electronics in Chhatrapati Sambhajinagar, generating 500 jobs. The government also signed an MoU with El Mont for an investment of Rs 2,000 crore in infrastructure, expected to create 5,000 jobs. The company director Kabir Bhandari was present at the signing.
BookMyShow will invest Rs 1,700 crore in the entertainment sector, leading to 500 jobs. Additionally, an MoU with Tembo for an investment of Rs 1,000 crore in the defence sector is expected to create 300 jobs, with Shabbir Merchant, the company's director, present at the event.
The government also signed an MoU with AB InBev in the F&B segment for an investment of Rs 750 crore, with Kartikeya Sharma, President, India & South East Asia of AB InBev, present during the signing.
Moreover, the government inked an MoU with CEAT Limited for an investment of Rs 500 crore in automotive and EC, expected to generate 500 jobs.
Bisleri International will invest Rs 250 crore in food and beverages within the Mumbai Metropolitan Region, aimed at creating 600 jobs. This MoU sets the groundwork for Maharashtra's extensive growth and development.
