Maharashtra Bags Over Rs 4.99 Lakh Crore Investment at WEF

On the WEF's first day, Maharashtra secured MoUs exceeding Rs 4.99 lakh crore, aimed at creating 92,000 jobs across diverse sectors like defense, renewable energy, and steel. Key deals include JSW Group's Rs 3 lakh crore investment, boosting development in Nagpur and Gadchiroli, and major agreements in green energy and IT.

On the first day of the World Economic Forum (WEF) in Davos, Maharashtra made headlines by signing memorandums of understanding (MoUs) worth over Rs 4.99 lakh crore. This unprecedented investment drive is set to create over 92,000 jobs spanning various sectors such as defense, renewable energy, and steel.

The highlight of the day was the announcement of an enormous Rs 3 lakh crore investment by the JSW Group. The funds will be channeled into sectors including steel, renewable energy, and electric vehicles (EVs), targeting job creation in Nagpur and Gadchiroli. Chief Minister Devendra Fadnavis expressed gratitude to JSW's Chairman Sajjan Jindal for his contribution to Maharashtra's economic progress.

In a historic move, the state secured its first-ever industrial agreement for Gadchiroli, traditionally lagging in industrial development. The Kalyani Group's investment of Rs 5,200 crore in defense, steel, and EVs marks a pivotal point in decentralizing economic growth within Maharashtra. Other significant commitments include Reliance Infrastructure's Rs 16,500 crore in defense, and substantial investments from Balasore Alloys Ltd. and Viraj Profiles Pvt. Ltd. Additionally, notable investments in the food and beverage sector promise to generate numerous jobs across the state.

(With inputs from agencies.)