Maharashtra Secures Highest Foreign Investment in India
Maharashtra Chief Minister Devendra Fadnavis announced in the state legislative assembly that the state has emerged as the top destination for foreign investment (FI) in India. He dismissed claims by the opposition that Gujarat surpasses Maharashtra in attracting investments, stating that Maharashtra continues to lead in this sector.
Maharashtra Outperforms Gujarat in Investments
In his speech, Fadnavis revealed that Maharashtra received ₹1.39 lakh crore in foreign investment during the first nine months of the financial year, which is three times higher than Gujarat’s FI inflows. He further stated that even when combined, the investment received by Karnataka, Gujarat, and Delhi still falls short of Maharashtra’s total.
Opposition’s Claims on Losing Investments to Gujarat
The Maha Vikas Aghadi (MVA) has repeatedly accused the Mahayuti government of failing to prevent businesses from shifting to Gujarat, resulting in job losses. Responding to these allegations, Fadnavis sarcastically remarked that some Maharashtra leaders seem to be promoting Gujarat as if they were its ambassadors.
Maharashtra’s Record-Breaking Investment Growth
The CM highlighted that in 2016-17, Maharashtra had received ₹1.31 lakh crore in foreign investment. However, in the first three quarters of the current financial year, this figure has already reached ₹1.39 lakh crore, with the fourth quarter results yet to be added.
Defending Davos Investment Deals
Addressing criticism from opposition leader Aaditya Thackeray, who questioned the state government’s Memorandums of Understanding (MoUs) with Indian companies at Davos, Fadnavis pointed out that Thackeray himself had signed similar MoUs with Indian firms in 2022.
The CM further defended the government’s efforts, stating that Maharashtra has signed MoUs worth ₹1.60 lakh crore, and at the World Economic Forum (WEF) in Davos, Maharashtra’s counter attracted the highest number of investors among the six participating states.
Aaditya Thackeray’s Criticism on Investment Deals
Aaditya Thackeray took to social media platform X to criticize the MoUs, claiming that out of 29 agreements signed, only one was with an international company, while the rest were Indian businesses already based in Maharashtra. He questioned the effectiveness of signing deals with companies that are already present in the state instead of focusing on global outreach.
Despite the opposition’s remarks, Maharashtra continues to maintain its position as India’s leading state for foreign investment, showcasing strong economic growth and attracting global businesses.
