Davos 2023: Rs 1.37-trn MoUs signed for investments in Maharashtra, says CM

Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement".

This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra.

"The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.

The MoUs have been signed in the fields of hi-tech infrastructure, renewable energy, electric vehicles, steel manufacturing and agro food processing, Shinde told reporters after returning to Mumbai on Wednesday.

The CM said he had appealed to all to invest in "Magnetic Maharashtra".

The impact of Prime Minister Narendra Modi's leadership and India was felt in Davos, he said, while terming his visit as successful and fruitful.

Shinde said, ''MoUs worth Rs 1.37 lakh crore have been signed. This is satisfactory and a big achievement. Ours is the government of the common man. The industrial policy which envisages single-window clearance, capital subsidy, GST subsidy will attract huge investment in the state."

"Maharashtra has huge potential for industrial development and the government will provide a red carpet welcome to the potential investors. I appealed to all to invest in 'Magnetic Maharashtra'," he said.

The government will extend all cooperation to the investors, he added.

Shinde had gone to Davos to seek investments in Maharashtra, where his government faced flak after some big-ticket industrial projects moved to other states, notably Gujarat.

The WEF is an international organisation for public-private cooperation.

The forum engages foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. The regular winter meeting of the global body is being held after a two-year coronavirus pandemic-induced hiatus.

The CM said MoUs worth Rs 54,276 crore were signed in the hi-tech and infrastructure sectors which will provide jobs to 4,300 people, agreements worth Rs 32,414 crore were inked in IT and fintech sectors which will generate employment for 8,700 people, while pacts worth Rs 46,000 crore were inked in renewable energy and electric vehicle sectors which will provide employment to 4,500 people.

Besides, investment commitments worth Rs 2,200 crore were signed in steel manufacturing sector which will provide jobs to 3,000 people and pacts worth Rs 1,900 crore were made in agro and food processing sector which will facilitate employment for 600 people, he said.

"In the next two days, more MoUs are expected to be signed. Foreign investors have shown trust and faith in the state government. The MoUs will not remain just on paper. Land identification process (for projects) has already begun," he said.

Shinde was welcomed at the Mumbai airport by his supporters and ministers Shambhuraj Desai and Deepak Kesarkar.