Maharashtra Chief Minister Devendra Fadnavis, with a focus on the state — particularly the Mumbai Metropolitan Region (MMR) – announced on Thursday the signing of 61 MoUs during his visit to the World Economic Forum in Davos entailing investment of Rs 15.70 lakh crore and having the potential to provide 16 lakh jobs in the state.
MoUs worth Rs6 lakh crore pertain to Mumbai Metropolitan Region (MMR) and Pune, Rs 5 lakh crore pertains to Vidarbha, Rs30,000 crore to north Maharashtra, and Rs25,000 crore is for Marathwada, which is emerging as a manufacturing hub, Fadnavis informed.
“Al has changed industry and job market and we have to embrace technology. My government plans to make Maharashtra the first mover in Al An Innovation City is also being planned in Navi Mumbai, which will create an eco-system for all innovations,” Fadnavis said.
The materialisation rate of these MoUs stands at 65-70 per cent, he said. “Last time, it was 95%. All are serious players. Most MoUs are connected to sustainability, green hydrogen and clean fuel,” the CM asserted. Interacting with reporters via Zoom link from Davos, he said seven of these MoUs were strategic partnerships for knowledge in mobility and education and not investment.
All the MoUs have 98 percent FDI component in the field of infrastructure, green energy, electronics, IT, steel, defence, textiles, solar, biotechnology, pharma, among others, the CM added.
“The economic advisory council we had set up under Tata Group Chairman N – AHARARHTIA Fadnavis with Rishad Premiji, executive chairman of Wipro, in Davos MMR and Pune 6 lakh cr North Maharashtra 330,000 cr Marathwada 325,000 cr Materialisation rate of MoUs 65-70% Major investments, Paras Defence %12,000cr for country’s first optics park, Amazon Web Services $8.3 bn for cloud infrastructure, Investments play a key role in it because it is a force multiplier, says CM Chandrasekaran with 20 global CEOs as part of, has given us their report and that has given us detailed blueprint for investments across regions and sectors.
We are in process of implementing those recommendations and our aim is to reach the target by 2028-29 or 2030-2031,” he said. “If India becomes a five trillion dollar economy, Maharashtra also has to achieve its USD 1 trillion target and I believe investments play a key role in it because it is a force multiplier.
When money gets invested, it has different impacts on different areas of economy. An investment of one rupee can have impact of two or four rupees for different segments of the economy,” he said. On investments coming for areas earlier known as Naxalite-affected, Fadnavis said Gadchiroli, which was earlier known as a Naxalite-affected area, has now become a hot destination for investments.
Paras Defence said it is planning to invest Rsl2,000 crore to set up the country’s first optics park in the state and signed an initial pact with the state government at Davos. The project is expected to commence in 2028 and will continue till 2035 to ensure scalability and flexibility. Amazon Web Services (AWS) has announced plans to invest USD 8.3 billion into cloud infrastructure in the AWS Asia-Pacific (Mumbai) Region in Maharashtra, to spruce up cloud computing capacity in India.
