Maharashtra: India’s Top FDI Hub, Contributing 14% to GDP with ₹15.72 Lakh Crore Investments & 15 Lakh Jobs Incoming

Maharashtra continues to be a preferred destination for Foreign Direct Investment (FDI), contributing over 14% to India’s Gross Domestic Product (GDP). Governor C. P. Radhakrishnan, during the state legislature’s budget session, reiterated the state’s commitment to fostering investment and economic growth. At the World Economic Forum 2025 in Davos, Maharashtra signed Memoranda of Understanding (MoUs) worth ₹15.72 lakh crore (US$ 180.1 billion) with 63 national and international companies. These agreements are expected to generate 15 lakh employment opportunities, further solidifying the state’s economic prominence.

Investment Promotion and Industrial Expansion

To attract further investment, the Maharashtra government has announced an investment promotion subsidy of ₹5,000 crore (US$ 573 million). Additionally, the Maharashtra Industrial Development Corporation (MIDC) has allocated 3,500 acres of land for industrial use, with 10,000 acres earmarked for future projects. The state also plans to develop 10 integrated industrial and logistics parks to enhance industrial connectivity and efficiency.

Recognising the importance of the textile sector, Maharashtra has launched the Maharashtra Technical Textiles Mission, which aims to strengthen and expand the industry. These initiatives align with the state’s strategy to boost manufacturing and trade, reinforcing its reputation as an investment-friendly region.

Infrastructure Growth and Renewable Energy Initiatives

Infrastructure development remains a priority, with the state planning to construct the Nagpur-Goa Shaktipeeth Expressway at an estimated cost of ₹86,300 crore (US$ 9.8 billion). This project aims to improve connectivity and stimulate regional economic growth by linking key industrial and commercial hubs.

Maharashtra is also taking significant steps in renewable energy. MoUs have been signed with 13 agencies for 38 pumped storage projects, which will generate 55,970 megawatts (MW) of power. These projects are expected to attract ₹2.95 lakh crore (US$ 33.8 billion) in investments and create 90,000 jobs, reinforcing the state’s commitment to sustainable energy solutions.

Agricultural and Housing Development

The state is actively supporting farmers through initiatives like the Agristack scheme and Kisan Credit Cards, benefiting over 87 lakh farmers. Under the Magel Tyala Saur Pump Yojana, 3.12 lakh solar irrigation pumps have been installed, with a target of 10 lakh pumps over the next five years. This initiative is designed to promote sustainable farming and reduce dependency on conventional energy sources.

In the housing sector, Maharashtra has made substantial progress under the Pradhan Mantri Awas Yojana (PMAY-Gramin). Over 12.64 lakh houses have been constructed, with plans for an additional 16.81 lakh houses in Phase II. These efforts aim to improve rural housing and provide better living standards for residents.

Cyber Security and Digital Infrastructure

Recognising the growing importance of cybersecurity, Maharashtra has introduced the Maharashtra Cyber Security Project in Navi Mumbai. This initiative will strengthen the state’s digital infrastructure and enhance data protection measures. By prioritising cybersecurity, Maharashtra is positioning itself as a technologically advanced state, ensuring a safer digital environment for businesses and residents alike.

Conclusion

Maharashtra’s proactive approach towards industrial expansion, infrastructure development, renewable energy, housing, and cyber security highlights its commitment to economic growth. With substantial investments and strategic initiatives, the state continues to be a key driver of India’s economic progress, reinforcing its position as a top destination for both domestic and international investors.

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