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Maharashtra has secured the highest foreign direct investment (FDI) in India for the second consecutive time. The state attracted Rs 70,795 crore in the April-June quarter (Q1) for the financial year 2024-25 (FY25), maintaining its position as the leading destination for foreign investment in the country.

This accounts for 52.46 per cent of India’s total FDI, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT). Commenting on the figures, Maharashtra’s Deputy Chief Minister, Devendra Fadnavis, said, “The total investment in the country during this quarter is Rs 1,34,959 crore, of which Rs 70,795 crore, or 52.46 per cent, comes from Maharashtra alone.”

 

Congratulations Maharashtra !

Very good news !

Maharashtra leads in FDI with a staggering 52.46% of India's total investment !

Maharashtra which is consecutively ranked No. 1 for last 2 years in FDI, now has secured maximum investment i.e 52.46% of India's total FDI in the 1st… pic.twitter.com/IVKjGqzGTI

— Devendra Fadnavis (@Dev_Fadnavis) September 6, 2024

Maharashtra has held the top spot in FDI for the past two years. Fadnavis added that the state received Rs 12,35,101 crore in FDI during 2023-24, surpassing Gujarat and even more than the combined FDI of Gujarat and Karnataka.

According to the data, Maharashtra has left behind eight states -- including Karnataka, Delhi, Telangana, and Gujarat. Karnataka followed at a distant second, with FDI totalling Rs 19,059 crore.

State-wise FDI list for Q1FY25

Maharashtra -- Rs 70,795 crore

Karnataka -- Rs 19,059 crore

Delhi -- Rs 10,788 crore

Telangana -- Rs 9,023 crore

Gujarat -- Rs 8,508 crore

Tamil Nadu -- Rs 8,325 crore

Haryana -- Rs 5,818 crore

Uttar Pradesh -- Rs 370 crore

Rajasthan -- Rs 311 crore

While sharing this data, Fadnavis also wrote, “We promised from day one that we would achieve in 2.5 years what would normally take 5 years! In just 2 years and 3 months, we have attracted Rs 3,14,318 crore in investments, and the figures for the second quarter are yet to be revealed...”

He further noted that during his tenure as Maharashtra’s chief minister from 2014 to 2019, the state attracted Rs 3,62,161 crore in foreign investment.

Shot in the arm for Mahayuti govt

The DPIIT data provides a major boost to the Mahayuti government, which has been under fire from the Opposition Maha Vikas Aghadi (MVA) coalition, which has accused it of losing investment to Gujarat and other states.

The MVA's criticism intensified after Maharashtra missed out on multi-crore projects such as the Rs 1.8 trillion Vedanta-Foxconn project, Tata Airbus manufacturing plant, and Gail’s Rs 50,000 crore ethane cracking unit in Sehore, Madhya Pradesh.