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Tata Group, Carlsberg Group, retail sector giant Lulu Group, and Schneider Electric India were among the major companies that expressed interest in investing in the state
Maharashtra CM Devendra Fadnavis and JSW Group Chairman Sajjan Jindal during the signing of an MoU for an investment of Rs 3 lakh crore in the state, on the sidelines of the World Economic Forum, in Davos, Switzerland. (PTI)
Maharashtra set an unprecedented record on the first day of the World Economic Forum in Davos by signing investment deals worth Rs 6,25,457 crore in the presence of chief minister Devendra Fadnavis, highlighting the state’s growing appeal as a global investment destination.
The chief minister, accompanied by senior officials, engaged with prominent business leaders to strengthen Maharashtra’s position on the world economic map. Fadnavis also held high-level meetings with several corporate giants to invite investments across sectors. Among these, his interaction with Tata Group chairman N Chandrasekaran stood out as a major milestone as the group committed Rs 30,000 crore in investments across various sectors, reinforcing its long-standing association with Maharashtra.
Another noteworthy meeting was with Jacob Aarup-Andersen, CEO of Carlsberg Group, who expressed a keen interest in expanding the company’s operations in Maharashtra. Fadnavis assured full cooperation to facilitate their plans, paving the way for enhanced industrial growth in the state.
Retail sector giant Lulu Group, led by managing director MA Yusuff Ali, also announced its intention to invest in Maharashtra, with a specific focus on Nagpur. Their plans to expand operations in the state underscore Maharashtra’s growing potential as a retail and logistics hub. In the renewable energy sector, Sumanth Sinha, chairman and CEO of ReNew Power, discussed 15,000 MW pipeline and wind energy projects in Beed. Schneider Electric India’s MD and CEO, Deepak Sharma, highlighted the company’s plans to collaborate on ITI empowerment programmes and integrate Artificial Intelligence into the energy sector. This initiative, supported by the World Bank, aims to enhance Maharashtra’s industrial and technological infrastructure.
Fadnavis also met with Mastercard APAC president Ling Hai, LDC CEO Michael Gelchie, and Cognizant CEO Ravi Kumar S. Discussions with these leaders centered on agriculture, food processing, international shipping, and IT advancements, all of which are critical to the state’s economic diversification strategy.
Key investment highlights include:
• Tata Group: Rs 30,000 crore, spanning multiple sectors.
• Olectra EV: Rs 3,000 crore, generating 1,000 jobs.
• eLearning Solutions: Rs 20,000 crore, creating 20,000 jobs.
• United Phosphorus: Rs 6,500 crore, generating 1,300 jobs.
• Open Origin India: Rs 15,000 crore, generating 1,000 jobs.
• Power In Energy: Rs 15,299 crore, creating 4,000 jobs.
• Rural Enhancer Sovereign Fund: Rs 10,000 crore to support social sector projects, including hospital construction.
• CEAT Tyres: Rs 500 crore, generating 500 jobs.
On the second day, Maharashtra aims to secure additional agreements with global investors, further solidifying its status as India’s top investment destination. These developments at Davos signify not just economic growth but also the creation of thousands of jobs, sustainable development projects, and technological advancements, positioning Maharashtra as a global economic powerhouse.
Fadnavis, in a statement, reaffirmed his vision for a prosperous Maharashtra: “Our state is open for business, innovation, and sustainable growth. These investments mark a new chapter in Maharashtra’s development story.”