Maharashtra's Record-Breaking FDI Surge in 2024: A Political Triumph?

Maharashtra Chief Minister Devendra Fadnavis announced that the state received Rs 1.13 lakh crore in FDI within six months of 2024-25, matching its yearly averages. The figures were shared following a heated state election where opposition parties alleged investment redirection to other states.

Maharashtra Chief Minister Devendra Fadnavis announced on Friday that the state has received a staggering Rs 1.13 lakh crore in foreign direct investment (FDI) over just six months of the financial year 2024-25. This amount matches what the state has averaged annually over the past four years.

The announcement, made via a post on platform X, details that Maharashtra secured Rs 1,13,236 crore in FDI in the first two quarters ending in September 2024. Comparatively, the state had received Rs 1,19,734 crore in 2020-21, Rs 1,14,964 crore in 2021-22, Rs 1,18,422 crore in 2022-23, and Rs 1,25,101 in 2023-24.

Fadnavis's statement comes amid political scrutiny following claims by opposition parties that the ruling BJP diverted investments originally intended for Maharashtra to other states, notably Gujarat, during a fervent campaign in the state elections last year. Despite this, Fadnavis asserts his administration's commitment, alongside Deputy Chief Ministers and cabinet members, to maintain the state's growth trajectory.

(With inputs from agencies.)