Chief Minister Devendra Fadnavis on Tuesday defended the investment decisions announced at the World Economic Forum (WEF) in Davos, dismissing criticism circulating on social media and clarifying that all agreements signed there are strictly related to foreign direct investment (FDI) and have no connection with domestic enterprises or budgetary allocations.
Social Media Criticism Addressed
Addressing the media via video conferencing from Davos, Fadnavis said several social media posts questioning the government’s intent appeared to follow a similar narrative and wording. While refraining from naming those behind the campaign, he said it was evident that a structured “toolkit” was being used to create doubts about Maharashtra’s investment strategy. However, he added that instead of speculating about the source, it was important to address the concerns being raised.
Investments Linked to FDI Only
Clarifying the government’s stand, the Chief Minister said all decisions announced at Davos were exclusively related to FDI and not linked to either the state or national budget.
Massive Investments Announced
Providing details, Fadnavis said Maharashtra signed investment agreements worth Rs 30 lakh crore at the WEF, while preliminary discussions for an additional Rs10 lakh crore have been completed. These investments are expected to generate nearly 40 lakh jobs across the state.
Foreign Partnerships Drive Growth
He further informed that 83 per cent of the total agreements involve direct foreign investment, with investments coming from 18 countries. Another 16 per cent of the investments are based on foreign technology partnerships. The countries include the United States, the United Kingdom, Singapore, Japan, Switzerland, Sweden, the Netherlands, Norway, Italy, Germany, France, Austria, the UAE, Spain, Canada and Belgium, among others.
Sector-Wide Investments Planned
The investments will span across industrial, services, agriculture and technology sectors. Fadnavis also noted that Maharashtra has a strong track record in translating memoranda of understanding into actual projects, with a conversion rate of around 75 per cent. He added that nearly 75 per cent of the investment agreements signed last year have already materialised.
India’s First Innovation City
The Chief Minister also announced that India’s first Innovation City will be developed near Mumbai in partnership with the Tata Group. Detailed planning for the project is expected to be completed within the next six to eight months. The concept was discussed at last year’s Davos summit, and Fadnavis said he held discussions with Tata Sons Chairman N. Chandrasekaran on the project.
Also Watch:
Tata Group’s Rs 1 Lakh Crore Investment
Tata Group is expected to invest over Rs 1 lakh crore in the Innovation City, while several international investors are also likely to participate.
Circular Economy Initiative in Mumbai
Fadnavis further announced plans to develop a circular economy model in Mumbai to address critical issues related to water, air and waste management. The initiative aims to ensure scientific processing of all types of waste and is expected to show visible results in the next two to three years. The model will later be replicated in other major cities across the state.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
