Maharashtra Signs 23 Deals Worth Rs 30,000 Crore At Davos Forum

The Maharashtra delegation at the World Economic Forum in Davos has announced the signing of 23 MoUs worth Rs 30,000 crore. Of these, over 55% of investments are Foreign Direct Investments from countries such as Singapore, Indonesia, the US, and Japan. Maharashtra is participating as a part of team India at WEF, Davos, showcasing the state's role in building the $5 trillion economy for India.

This includes investment in diverse sectors including pharmaceuticals and medical devices, IT, data centres, textiles, food processing, packaging, paper & pulp, steel, etc. "A total of USD 4 Billion (Rs 30,379 crore) in investments was signed at the Memorandum of Understanding (MoU) ceremony held in the Maharashtra pavilion at Davos. These investments will potentially generate more than 66,000 jobs," a media release from the state government said.

"A great success for Magnetic Maharashtra 2.0 program today at @WEF #Davos2022. A total of 23 MoUs worth USD 4 Bn (INR 30k cr) were signed which will generate 66k jobs in Maharashtra @CMOMaharashtra, @midc_CEO," Cabinet Minister Aaditya Thackeray said in a tweet.

The state's delegation is being led by Minister of Environment & Climate Change Aaditya Thackeray, Minister of Industries Subhash Desai, and Minister of Energy Dr Nitin Raut.

Maharashtra had launched the Magnetic Maharashtra 2.0 program for attracting investments in the state. So far, in the 9 editions of the MM 2.0 initiative under the leadership of Chief Minister Uddhav Thackeray, the state has been able to attract Rs 1.89 lakh crore in new investments in addition to an FDI of more than INR 2 lakh crore - the highest in India. The Maharashtra Industrial Development Corporation is executing the 10th edition of Magnetic Maharashtra 2.0 at the World Economic Forum.

"Today @WEF @Davos the state government signed 23 MoUs with various companies with investments worth Rs 30,379 crore. these investments will potentially generate more than 66000 jobs. The MoUs were signed in the presence of ministers @AUThackeray & @NitinRaut_INC," Industries Minister Subhash Desai said.

The World Economic Forum is a yearly event, which serves as a melting pot of ideas and many important global partnerships are forged during the week-long event.

The state delegation is holding a series of high-powered meetings with CEOs of Fortune 500 companies to mobilise huge investments in Maharashtra. Some of the key investors that the state met include Suntory, a global beverage company that is leading efforts in sustainable packaging, and UPL, a multinational major in chemicals which is investing in 250 acres of land in the Raigad district of the state.

The state also signed an MoU with the Global Plastic Action Partnership ("GPAP") and initiated the Maharashtra Plastic Action Partnership (Maharashtra PAP), which will serve as a roadmap for sustainable development in the state. Maharashtra was the first state to ban single-use plastic in 2018 and has been at the forefront of sustainable development with aggressive policies and action plans to balance development and climate change.

"In an insightful session at the Forum Initiative briefing with @PlasticImpact Executive Director, Kristin Hughes, elaborated on the policy changes and business partnerships on a global scale for stringent plastic action measures, in this hour of climate emergency," Aaditya Thackeray said in a tweet.

"It was great meeting @alanjope CEO, @Unilever. Discussed various CSR projects that Unilever is undertaking in the low income areas of Mumbai and the amazing impact has on sustainability & improving lives," Mr. Thackeray added.