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Maharashtra Tops FDI Charts Again, Plans Saffron Paper on Rs 31 Lakh Cr MoUs

Maharashtra Industries Minister Uday Samant announced the state has maintained its top position in attracting Foreign Direct Investment for the third consecutive year. The state secured Memorandums of Understanding worth over Rs 31 lakh crore during the World Economic Forum in Davos, with a notably high project conversion rate of 75-80%. The government will soon release a saffron paper detailing the implementation status of these MoUs and is formulating a dedicated policy for rehabilitating slums on MIDC land. Minister Samant also provided updates on Mumbai's infrastructure, noting progress on road works and action taken against financial irregularities.

Key Points: Maharashtra Leads India in FDI, to Release Saffron Paper on Investments

  • Rs 31 lakh crore MoUs signed at Davos
  • Top FDI destination for 3rd year
  • 75-80% project conversion rate
  • New SRA policy for MIDC slums
  • BMC road works progressing
2 min read

Maha leads in attracting FDI, to release saffron paper on present status

Maharashtra secures Rs 31 lakh crore MoUs at Davos, maintains top FDI rank for 3rd year. State announces 75-80% project conversion rate and new slum rehab policy.

"While other states see a project implementation rate of 35 per cent to 40 per cent, Maharashtra has achieved a conversion rate of 75 per cent to 80 per cent since 2022 - Minister Uday Samant"

Mumbai, March 13

Industries Minister Uday Samant on Friday said in the Legislative Assembly that Maharashtra continues to be the premier destination for investment in India.

Responding to a proposal under Rule 293, the Minister revealed that the state has secured Memorandums of Understanding (MoUs) worth over Rs 31 lakh crore during the 2026 World Economic Forum in Davos.

For the third consecutive year, Maharashtra has maintained its top position in attracting Foreign Direct Investment (FDI), a feat the Minister credited to the state's robust industrial ecosystem and proactive policy-making.

He announced that the government will soon release a saffron paper outlining the current status of MoU implementation.

Minister Samant highlighted that the investments are not limited to the Maharashtra Industrial Development Corporation (MIDC) but span multiple key departments. Of the Rs 31 lakh crore MoUs for investments, the Industries Department has signed MoUs worth Rs 15.15 lakh crore, the Mumbai Metropolitan Region Development Authority Rs 15.10 lakh crore and the Maharashtra State Road Development Corporation Rs 1 lakh crore.

"While other states see a project implementation rate of 35 per cent to 40 per cent, Maharashtra has achieved a conversion rate of 75 per cent to 80 per cent since 2022," the Minister noted, emphasising that these agreements will lead to massive job creation and industrial growth.

In a significant move for urban welfare, the state government is preparing a dedicated policy for the rehabilitation of slums on MIDC (Maharashtra Industrial Development Corporation) land.

Minister Samant explained that an SRA (Slum Rehabilitation Authority) policy, modelled after the state's Industrial and Gems & Jewellery policies, is under consideration. A formal decision is expected within the next two months. The initiative aims to provide permanent housing to families who have resided on industrial lands for years.

The Minister reaffirmed the Industries Department's commitment to balanced regional development.

He stated that the government is focused on establishing new MIDC areas and boosting employment to ensure that the benefits of industrialisation reach every corner of the state.

Addressing concerns regarding Mumbai's infrastructure, the Minister stated that the Brihanmumbai Municipal Corporation's (BMC) fixed deposits remain secure and are being utilised effectively for development.

He told the assembly that 1,048 roads spanning 278.83 km have been completed. Work on Phase 1 is 54 per cent complete, while Phase 2 stands at 56 per cent.

Following the discovery of irregularities amounting to Rs 65 crore, the government has taken strict action against those involved. To ensure transparency, tenders worth Rs 380 crore were cancelled and are being re-invited.

- IANS

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Reader Comments

P
Priya S
Rs 31 lakh crore is a staggering number! But I'm more interested in the 'saffron paper' on implementation status. We need full transparency. Where exactly are these investments going? Are they creating jobs in places like Vidarbha and Marathwada too, or just around Mumbai-Pune?
R
Rohit P
Good to see action on slum rehabilitation on MIDC land. It's a complex issue that has stalled projects for years. A clear SRA policy can bring relief to those families and free up land for industry. Hope they follow through in 2 months as promised.
S
Sarah B
As someone who works in the development sector, the numbers on road completion and the crackdown on the Rs 65 crore irregularity are positive signs. Cancelling and re-tendering Rs 380 crore worth of contracts sends a strong message against corruption. Accountability is key.
V
Vikram M
While attracting FDI is great, the government must ensure that local MSMEs are not sidelined. They are the backbone of our economy and create the most employment. The policies should support them equally. Jai Maharashtra!
M
Michael C
The report mentions balanced regional development. That's the real challenge. The state needs to develop industrial corridors beyond the usual hubs to prevent overcrowding and manage resources better. The infrastructure updates in Mumbai are a step, but what about water and power for new industries?

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