Maharashtra CM inks MoUs worth ₹1.37 lakh crore at World Economic Forum in Davos

Maharashtra has inked MoUs for investment worth ₹1.37 lakh crore during Chief Minister Eknath Shinde’s visit to Davos for the World Economic Forum (WEF) Summit.

Domestic and foreign investors have shown faith in the state by signing such a large number of MoUs at Davos for the first time, said Shinde on his return to Mumbai.

“The state has a favourable environment for the growth of industry and has good infrastructure and skilled manpower. Therefore, entrepreneurs have an opportunity to invest in Magnetic Maharashtra and they have shown their preference to invest in various sectors of the state,” said Shinde, adding that the proposed projects will be commissioned as soon as possible.

Details of MoUs Signed at Davos

Of the ₹1.37 lakh crore proposed to be invested, ₹54,276 crore is meant for hi-tech and infrastructure, which will create 4,300 jobs. MoUs worth ₹46,800 crore have been signed in the renewable energy and electric vehicle sectors, generating potential for the creation of more than 45,000 jobs.

In the field of information technology (IT), fintech, data center, MoUs for the investment of ₹32,414 crore were signed. These initiatives are expected to lead to the creation of 8,700 jobs. An investment of ₹2,200 crore is proposed in iron production, which could lead to 3,000 people getting jobs.

The chief minister informed that an MoU worth ₹1,900 crore has been signed in the agriculture and food processing industry sector and this will lead to employment of around 600 people.

1 Lakh Jobs in Maharashtra

Industry minister Uday Samant said the proposed investment will lead to the creation of 1 lakh jobs in the state.

Shinde said that the state government has approved a new policy to attract investment and promote the growth of industry. ‘’The new policy proposes a one window scheme, capital subsidy, GST tax subsidy and special package to new technology and large enterprises,” he said.

Shinde said that the state government has also signed MoUs for knowledge partnership in Maharashtra.