Modi's influence key to record investment and job commitments for Maharashtra at Davos: Fadnavis

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Maharashtra's Chief Minister, Devendra Fadnavis, has announced that the state has secured a record investment commitment of over Rs 15 lakh crore and nearly 15 lakh job opportunities at the World Economic Forum (WEF) Annual Meeting. According to Fadnavis, the driving force behind this unprecedented success is the global community's trust in Prime Minister Narendra Modi, as well as the decisive mandate his government has received for its past performance.

Presenting Maharashtra as a thriving industrial powerhouse, Fadnavis highlighted that the state's "Magnetic Maharashtra" initiative is attracting global investors from a diverse range of sectors, including manufacturing, education, technology, and new-age industries. He further stated that the investment commitments are spread across the state's different regions, marking a significant achievement in boosting Maharashtra's economy.

"We have seen an overwhelming sense of renewed confidence from investors in Maharashtra. In just the first two days of the event, we secured MoUs worth Rs 15.7 lakh crore, which will generate close to 15 lakh new jobs in the state," Fadnavis said in an exclusive interview with PTI. "This sets a new benchmark for Maharashtra and is a historic milestone for us."

The Chief Minister also stated that these investments would serve as a key driver in the state's ambition to become a USD 1 trillion economy. This goal is part of Maharashtra's broader vision, aligned with India's aspiration to become a five trillion dollar economy. Fadnavis pointed out that investments are crucial to achieving this target as they act as a multiplier, positively impacting various segments of the economy.

As per PTI, Fadnavis detailed the progress made under the guidance of the economic advisory council, led by Tata Group Chairman N Chandrasekaran. This council, consisting of 20 global CEOs, has already provided a comprehensive blueprint for future investments in the state, focusing on regional and sectoral growth. The government aims to meet its USD 1 trillion target by 2028-29 or 2030-31.

Notably, investments are also flowing into areas that were once plagued by Naxalite activity. Gadchiroli, once notorious for its insurgency, has now emerged as a hotspot for industrial development. Fadnavis shared that a steel production capacity equivalent to 30% of Maharashtra's total will be set up in the region, thanks to the investment deals secured at Davos. This, he said, marks a "revolution" in the steel sector.

Fadnavis is also keen to revive the "Magnetic Maharashtra" investment summit and elevate it to the same level as the WEF event in Davos. He emphasised the importance of such summits in creating a platform for investors to collaborate and explore opportunities, with the potential to generate substantial results.

Explaining the key factor that has helped attract such record-breaking investments, Fadnavis said, "The decisive mandate received by the government has played a pivotal role in enhancing investor confidence. Investors carefully assess the past performance of a government, and they have recognised that Maharashtra has consistently created a business-friendly environment under the leadership of Prime Minister Narendra Modi."

He added that the combination of a strong central government policy alignment and Maharashtra's business-friendly environment has significantly increased trust among global investors. "Global investors are now convinced that Maharashtra is one of the most attractive states for doing business, and they see that we have the full backing of the central government," Fadnavis concluded.