The Maharashtra government has signed a record-breaking 31 Memorandum of Understandings (MoUs) with investment proposals worth ₹6,25,457 crore across various sectors, including steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries, and Solar Modules. The signing took place on the sidelines of the World Economic Forum summit at Davos on Tuesday, in the presence of Chief Minister Devendra Fadnavis and senior government officials.
Chief Minister Fadnavis highlighted the significance of these agreements, stating, “The MoU signed today paves the way for Maharashtra’s comprehensive growth and development.” He further noted that this marks a new record for securing such a significant investment amount in a single day, with additional agreements expected on the second day.
Among the substantial investments, JSW has committed ₹3 lakh crore for Maharashtra’s Green Transformation, while the Tata Group will invest ₹30,000 crore in multiple sectors. Chief Minister Fadnavis held discussions with several key executives to encourage investments in the state, including Tata Group Chairman N. Chandrasekaran, Carlsberg Group CEO Jacob Aarup-Andersen, and Lulu Group Managing Director M.A. Yusuff Ali.
ReNew Power Chairman and CEO Sumant Sinha discussed a 15,000 MW pipeline and wind energy projects in the Beed district with the Chief Minister. Additionally, Schneider Electric India’s Managing Director and CEO Deepak Sharma met with the Chief Minister to discuss the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Mastercard APAC President Ling Hai, Louis Dreyfus Company CEO Michael Gelchie, and Cognizant CEO Ravi Kumar S. also held talks with Fadnavis on potential investments and opportunities.
“The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development,” stated the Chief Minister’s Office in a release.
The state government signed numerous other MoUs, including:
- Waaree Energy: ₹30,000 crore in green energy and solar components, creating 7,500 jobs.
- Blackstone-Panchshil Realty: ₹25,000 crore for data center development, generating 500 jobs, and an additional ₹25,000 crore in Information Technology in the Mumbai Metropolitan Region, creating 1,000 jobs.
- Erulearning Solutions: ₹20,000 crore in education.
- ZR2 Group: ₹17,500 crore in automobiles and EVs in the Pune region, generating 4,000 jobs.
- Balasore Alloys Ltd: ₹17,000 crore in steel and metals, creating 3,200 jobs.
- Reliance Infrastructure Ltd: ₹16,500 crore in the defense sector, generating 2,450 jobs.
- Powerin Urjaa: ₹15,299 crore in green energy, generating 4,000 jobs.
- Open Origin India Inc: ₹15,000 crore in green energy, creating 1,000 jobs.
- Viraj Profiles Pvt Ltd: ₹12,000 crore in steel and metals, generating 3,500 jobs.
- Avani Power Batteries: ₹10,521 crore in electronics, generating 5,000 jobs in Chhatrapati Sambhajinagar.
- H2e Power: ₹10,750 crore in green energy, creating 1,850 jobs in the Pune region.
- Rural Enhancers: ₹10,000 crore in social sectors including hospitals.
- Welspun: ₹8,500 crore in logistics, generating 17,300 jobs.
- Essar and Blue Energy: ₹8,000 crore in green energy, creating 2,000 jobs.
- United Phosphorus: ₹6,500 crore in green energy, generating 3,000 jobs.
- Olectra EV: ₹3,000 crore in automotive and EV, generating 3,000 jobs.
- Kalyani Group: ₹5,250 crore in defense, steel, and EV, creating 4,000 jobs.
- Gensol: ₹4,000 crore in electronics in Chhatrapati Sambhajinagar, creating 500 jobs.
- El Mont: ₹2,000 crore in infrastructure, generating 5,000 jobs.
- BookMyShow: ₹1,700 crore in the entertainment sector, generating 500 jobs.
- Tembo: ₹1,000 crore in the defense sector, creating 300 jobs.
- AB InBev: ₹750 crore in the F&B segment.
- CEAT Limited: ₹500 crore in automotive and EC, generating 500 jobs.
- Bisleri International: ₹250 crore in food and beverages in the Mumbai Metropolitan Region, creating 600 jobs.
These agreements pave the way for Maharashtra’s comprehensive growth and development, marking a significant milestone in attracting global investments to the state.
CM Fadnavis expressed his enthusiasm on X, saying, “Extremely happy to witness the historic ₹3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra’s industrial environment. The areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission ‘Green Maharashtra.”
