Home / Business and Economy / Maharashtra Seals 85 MoUs in Davos for Global Investment
Maharashtra Seals 85 MoUs in Davos for Global Investment
23 Jan
Summary
- Maharashtra signed nearly 85 MoUs in Davos, focusing on industry and tech.
- 83% of pacts involve foreign direct investment, 16% in technology partnerships.
- Innovation City planned near Mumbai with Tata Group, over Rs 1 lakh crore investment.
At the World Economic Forum in Davos, Maharashtra has secured close to 85 Memoranda of Understanding (MoUs) across critical sectors like industry, services, agriculture, and advanced technology. Chief Minister Devendra Fadnavis highlighted that these agreements are set to significantly boost the state's economy.
These MoUs represent a substantial inflow of foreign capital, with 83% of them geared towards direct foreign investment and an additional 16% focused on foreign technology collaborations. These investments are anticipated from 18 countries, including major economies like the United States, Japan, and Germany.
Key focus areas for these new partnerships include quantum computing, artificial intelligence, data centers, and green steel. A landmark announcement is the development of India's first Innovation City near Mumbai in collaboration with the Tata Group, projected to attract over Rs 1 lakh crore in investment.
Fadnavis emphasized that these global engagements underscore Maharashtra's ambition to be a premier international investment destination. The state has a strong historical conversion rate of MoUs into tangible projects, with most investments materializing within a three- to seven-year timeframe.
