Maharashtra preferred Foreign Direct Investment (FDI) destination, contributes 14% to Gross Domestic Product (GDP), says Governor of Maharashtra, Mr. C. P. Radhakrishnan

Maharashtra remains a preferred destination for Foreign Direct Investment (FDI), contributing over 14% to India's Gross Domestic Product (GDP), Governor of Maharashtra, Mr. C. P. Radhakrishnan said during the state legislature's budget session. At the World Economic Forum 2025 in Davos, the state signed a Memoranda of Understanding (MoU) worth Rs. 15,72,000 crore (US$ 180.1 billion) with 63 national and international companies, expected to generate 15 lakh employment opportunities. To attract further investments, the state government plans to disburse an investment promotion subsidy of Rs. 5,000 crore (US$ 573 million). It has allotted 3,500 acres of land through the Maharashtra Industrial Development Corporation (MIDC), with 10,000 acres notified for future industrial projects. Additionally, the government will develop 10 integrated industrial and logistics parks and has launched the Maharashtra Technical Textiles Mission to strengthen the textile sector. 

In infrastructure, the state will build the Nagpur-Goa Shaktipeeth Expressway at an estimated cost of Rs. 86,300 crore (US$ 9.8 billion), enhancing connectivity and fostering regional economic growth. MoUs with 13 agencies for 38 pumped storage projects for renewable energy will generate 55,970 megawatts (MW) of power, attracting Rs. 2,95,000 crore (US$ 33.8 billion) in investments and creating 90,000 jobs. Under the Magel Tyala Saur Pump Yojana, 3.12 lakh solar irrigation pumps have been installed to provide 10 lakh pumps in five years. In housing, over 12.64 lakh houses have been built under the Pradhan Mantri Awas Yojana (PMAY-Gramin), with 16.81 lakh houses planned in Phase II. The government also prioritizes cyber security through the Maharashtra Cyber Security Project in Navi Mumbai. It supports farmers with the Agristack scheme and Kisan Credit Cards, benefiting over 87 lakh farmers. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.