The Devendra Fadnavis-led Maharashtra government has signed 54 Memoranda of Understanding (MoU) worth Rs 15.70 lakh crore as of Wednesday at the World Economic Forum (WEF) in Davos, news agency ANI reported. These investments are expected to generate approximately 16 lakh jobs, according to a statement from the Chief Minister`s Office (CMO).
Among the MoUs signed on Wednesday, the largest investment deal was with Reliance Group, amounting to Rs 3,05,000 crore, ANI reported. This investment will span various sectors including petrochemicals, polyester, renewable energy, bioenergy, green hydrogen, green chemicals, industrial development, retail, data centres, telecommunications, hospitality, and real estate, the statement from the CMO added.
An MoU was also signed with MSN Holdings Ltd in the presence of CM Devendra Fadnavis. The collaboration will pave the way for an advanced lithium battery and cell manufacturing project under the `Ultra Mega Project` initiative, as outlined in the state government`s policy, ANI reported.
The project, with an investment of Rs 14,652 crore, is set to transform the industrial landscape of Maharashtra by creating both direct and indirect employment opportunities for around 8,760 individuals, particularly in the underdeveloped region of Vidarbha, stated MSN Holdings Ltd.
The state has also formalised an agreement with Tembo Defence Products Private Limited, a subsidiary of Tembo Global Industries Limited during the World Economic Forum in Davos. The deal is set to boost India`s defence manufacturing capabilities.
The CMO further emphasised that Fadnavis` vision is to make Maharashtra the first state in India to achieve a USD 1 trillion economy.
The Annual Meeting 2025 of WEF is being held at Davos-Klosters in Switzerland from January 20 to 24. The India Pavilion at the 55th WEF Annual Meeting features eight states, each actively seeking investment opportunities from global business leaders. They include Kerala, Telangana, Uttar Pradesh, Andhra Pradesh, Maharashtra, Tamil Nadu, Karnataka, and West Bengal.
Davos 2025 convenes under the theme `Collaboration for the Intelligent Age.`
This year, more than 350 governmental leaders are expected to attend the forum, including 60 heads of state and government. India has sent its largest-ever delegation to the WEF Annual Meeting in Davos, consisting of five Union ministers and three state CMs. Nearly 100 Chief Executive Officers (CEOs) and leaders from the government, civil society, and arts are also participating in the forum.
(With ANI inputs)
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