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Business & Finance

Maharashtra CM Eknath Shinde generates $17 billion of investment at WEF

DAVOS, Switzerland

One of the largest investment commitments aims to generate over 101,389 jobs in the manufacturing, hi-tech, renewables and food processing sectors

The Chief Minister of Maharashtra, Shri Eknath Shinde, concluded his World Economic Forum 2023 (WEF) meetings at Davos, on a successful note, paving the way for accelerated growth for Maharashtra and India.

Shri Shinde’s visit to Davos was packed with back-to-back meetings with global business and political leaders, which resulted in the signing of 19 MOUs with globally and nationally renowned companies such as Berkshire Hathaway, ICP investments, New Era CleanTech, Gogoro India, Greenko Energy Projects, Mahindra Electric Vehicle Automobile and several more.

Offering a vibrant economic climate, ease of doing business, robust infrastructure, and decisive leadership these investments are spread across Maharashtra and will lead to uniform economic growth across all the districts in the state. With the economy recovering rapidly from the slowdown caused by the Covid-19 pandemic, these investments will create over 100,000 jobs in hi-tech, manufacturing, agriculture and food processing, renewable & clean energy and the infrastructure sectors.

Maharashtra’s visit to Davos proves that the state is the most preferred in India for global investments; with the success at the WEF validating the government’s agenda, which was rolled out amid challenging times seven months ago.

Concluding his visit, Shri Shinde said, “It was a highly productive visit, and I am extremely happy with the outcome of my meetings. With these global investments, across key growth sectors spread across the state, we have laid down the foundation for accelerated economic growth of Maharashtra and India. The confidence shown by these global investors have once again reinforced Maharashtra’s unique position as the gateway to India. I will continue to lead the state’s efforts for rapid economic growth in order to achieve our $1 trillion GDP goal.”

About Maharashtra:
Maharashtra is one of the most industrialised states in India, contributing 16% to the country’s industrial output and 15% to its GDP. The service sector contributes the most to the state’s economy, accounting for 62% of its GDP, while the manufacturing sector is the second-largest contributor to the state’s economy, accounting for 20% of its GDP. Major industries in Maharashtra include automobiles, engineering, textiles, pharmaceuticals, chemicals, petrochemicals, food processing and IT/ITeS.

Source: Maharashtra Industrial Development Corporation (MIDC)