Maharashtra Takes Lead In Foreign Direct Investment With Rs 4 Lakh Crores In Last Three Years
Mumbai, 6th June 2023: Maharashtra has emerged as the frontrunner in foreign direct investment (FDI) in the country, securing a significant share of 29% in the total investment across India. Over the past three and a half years, the state has attracted approximately ₹4 lakh crores in foreign investment. In the financial year 2022-23 alone, Maharashtra received an impressive investment of ₹1.18 lakh crores, earning the top spot nationwide.
“Yes! Once again Maharashtra is number 1 in foreign investment… We have consistently maintained that the new government has put an end to the era of extortion, corruption, and malpractices. Now, the flow of investment will further increase in Maharashtra.” – Devendra Fadnavis, Deputy Chief Minister.
The Industries Department of the Central Government recently released statistics highlighting Maharashtra’s dominance in foreign investment. The state surpassed other key players such as Karnataka, Delhi, Gujarat, and Telangana. From October 2019 to March 2023, Maharashtra witnessed a total investment of ₹4.07 lakh crores, while Karnataka received 24% of the investment during the same period, followed by Gujarat with 17%, and Delhi with 13%.
Last week, the state government signed a significant agreement with Bajaj Finserv in the financial services sector, near Pune, involving an investment of approximately ₹5,000 crores. This collaboration has the potential to generate 40,000 jobs. Deputy Chief Minister and Finance Minister Devendra Fadnavis, during the announcement, highlighted the substantial investments in the financial services sector across the country. The data from the Central Government, confirming Maharashtra’s leadership in foreign investment, provided a major boost to the state government. Taking to Twitter, Fadnavis criticized the Mahavikas Aghadi government, emphasizing that the current administration has effectively put an end to extortion, corruption, and malpractices, paving the way for increased investment inflows into Maharashtra.
The remarkable surge in foreign investment reflects Maharashtra’s attractiveness as a prime investment destination and underscores the state’s commitment to creating a favorable business environment. With its strategic location, skilled workforce, and robust infrastructure, Maharashtra is well-positioned to continue leading the way in foreign direct investment in the country.
