In a significant stride towards its ambitious goal of becoming a USD 1 trillion economy, Maharashtra Chief Minister Eknath Shinde announced the signing of 19 Memoranda of Understanding (MoUs) during his visit to the World Economic Forum Annual Meeting in Davos. Accompanied by Industries Minister Uday Samant and senior officials, Shinde expressed his determination to lead the state towards economic prosperity.
Strategic Investments Unveiled
The state government successfully sealed investment MoUs amounting to Rs 3.53 lakh crore (USD 44 billion) across various sectors, including electronics, IT, data centers, gems and jewelry, agriculture, automobile, and renewable energy. An additional expression of interest for Rs 1 lakh crore investment was also received, catapulting the total potential investment to Rs 4.5 lakh crore (almost USD 57 billion).
Job Creation on the Horizon
This substantial investment has the potential to generate around two lakh jobs, contributing significantly to employment across diverse industries.
Sectoral Breakdown of Investments
The signed MoUs encompass a spectrum of industries, ranging from the establishment of a green hydrogen and ammonia plant by Inox Air Product to the expansion of paper production capacity by a global natural resources conglomerate. Noteworthy agreements also include initiatives by BC Jindal for battery separator film manufacturing, Adani Group’s expansion of Dighi Port, and JSW Steel’s foray into renewables.
Global Outreach and Collaboration
Under the theme “Bringing Confidence during a changing World,” Chief Minister Shinde engaged with a multitude of global political leaders, industry captains, and decision-makers, presenting Maharashtra as the premier investment hub.
Key MoUs and Initiatives
- Inox Air Product: Green hydrogen and ammonia plant
- BC Jindal: Battery separator film manufacturing facility
- Global Natural Resources Conglomerate: Expansion of paper production capacity
- ABInBev: Brewery business expansion
- Adani Group: Dighi Port expansion
- JSW Steel: Renewable energy ventures
- Godrej Agrovet: Investment in cattle feed expansion and chemical segments
- CtrlS Data Centers: Setting up solar parks
- Web Werks: Investment in IT/ITES Data Center
- Hyundai Motor: Expansion plans