Maharashtra on Tuesday participated in the second day of the annual meeting of the World Economic Forum, 2022 in Davos Switzerland and signed 23 MoUs with companies. In the 10th edition of its Magnetic Maharashtra 2.0 programme, over 55% of the investment is foreign direct investment from countries including Singapore, Indonesia, the US and Japan.
Investment Involved in diverse sectors like Pharmaceuticals & Medical Devices, IT, Data Center, Textile, Food Processing, Packaging, Paper & Pulp, Steel etc. a total of $4 billion ( 30,379 crore) investment was signed at the MoU ceremony held at Maharashtra Pavilion in Davos.
These investments will potentially create more than 66,000 jobs. The Magnetic Maharashtra 2.0 program was conceptualized under Chief Minister Uddhav Thackeray to strengthen the resilience of the state’s economy.
while on the second day 10 version Out of these, these programs have been organized with 121 MoUs, which has resulted in total investment in the state. 2.2 lakh crore ($29 billion) with the potential to generate around 400,000 jobs.
In the last 9 editions, in the last 2 years, 98 MoUs were signed which are now in various stages of implementation, In addition, in the last two years from October 2019 to December 2021, Maharashtra received 26% of the total FDI , which was the highest in India.
Meanwhile, Minister of Environment and Climate Change, Aaditya Thackeray, Minister of Industries Subhash Desai and Minister of Power, Dr. Nitin Raut, ACS to Chief Minister Ashish Kumar Singh, ACS Industries Baldev Singh, MD of MSEDCL, Vijay Singhal, CEO of MIDC signed companies. Dr. P. Anbalagan and Joint CEO, MIDC, PD Malikner were also part of the function along with industry representatives.
The salient features of the 10th edition of Magnetic MH 2.0 are as follows:
- Major textile players like Indorama Corporation and Indocount Industries Limited are investing in textile hubs of Nagpur and Kolhapur in Maharashtra respectively.
- Microsoft is investing to set up a data center in Pune, with the investment amount 3200 crores.
- Sinarmas Pulp & Paper Pvt. Ltd., a unit of Asia Pulp & Paper (APP), a leading Indonesian pulp and paper company investing in 10,500 crore for paper and pulp manufacturing in Raigad.
- Food and agro processing will also get a big boost as Havmor Ice Cream Pvt Ltd is setting up an ice cream manufacturing unit in Pune.
- Sonai is in edible and Goyal protein oil extraction.
- Gramsci Business Hub Private Limited will invest 5000 crores in the IT sector, boosting the IT ecosystem of Maharashtra