₹1.13 Lakh Crore FDI in Just 6 Months in Maharashtra: Investors Bank on Fadnavis Govt's Stability!
08 Jan 2025 10:11:01
In a significant development, Chief Minister Devendra Fadnavis has announced that Maharashtra has attracted investments of ₹1.13 lakh crore of a total ₹2.49 lakh crore that flowed into the country in the first six months (April–September) of fiscal 2024-25. This figure is the highest for any state in India.
Maharashtra CM Fadnavis shared the data, published by the Department for Promotion of Industry and Internal Trade, in a post on X, emphasising Maharashtra’s consistent leadership in attracting FDI.
FDI Inflows Over the Years:
Given the rapid pace of FDI inflows in the first half of 2024-25, Maharashtra has set the stage for potentially record-breaking inflows by year-end. It is also pertinent to mention that the announcement comes ahead of Fadnavis’ visit to Davos for the World Economic Forum (WEF) summit, where the state government aims to secure more investments.
Interestingly, the data presented by Fadnavis serves as a strong rebuttal to the opposition's agenda during the Maharashtra Assembly Elections, where they accused the ruling BJP of diverting investments intended for Maharashtra to other states, especially Gujarat. It had massively campaigned to portray the BJP-led government as purposefully creating an obstacle towards Maharashtra's economic growth and industrial development and favouring other BJP-ruled states.
These figures also suggest that foreign companies and investors view Maharashtra as a favourable destination for investment in various sectors. This can be attributed to the stability provided by the government in the state over the past two years. A closer look at the data reveals that Maharashtra witnessed a dip in 2021-22 during Uddhav Thackeray’s tenure under the Maha Vikas Aghadi (MVA) government. However, with the formation of the Mahayuti government in June 2022, Maharashtra successfully regained its leading position by October 2024 on a large scale, reaffirming investor confidence and economic growth. This speaks high volumes of the investors’ faith in a politically stable government like the Fadnavis-led Mahayuti government. It sets an example to enhance its growth through its investor-friendly FDI policy.
The FDI data highlights that major infrastructure projects, such as the Mumbai Trans Harbour Link, Navi Mumbai International Airport, Samruddhi Mahamarg and the expansion of metro rail networks, play a key role in attracting foreign investments to the state. These initiatives bolster investor confidence by offering modern facilities, seamless operations, and enhanced logistics. This also sends the right message to investors who are eager to invest in Maharashtra.
It also reflects on the current government's commitment to the slogan, "BJP Chi Sarkar Mhanje Vikas Chi Sarkar", emphasising its focus on development and progress.
Fadnavis's detailed presentation showcases Maharashtra's continued progress and ability to attract substantial investments under the BJP's governance.
Maharashtra CM Fadnavis shared the data, published by the Department for Promotion of Industry and Internal Trade, in a post on X, emphasising Maharashtra’s consistent leadership in attracting FDI.
FDI Inflows Over the Years:
- 2020-21: ₹1,19,734 crore
- 2021-22: ₹1,14,964 crore
- 2022-23: ₹1,18,422 crore
- 2023-24: ₹1,25,101 crore
- 2024-25 (April–September): ₹1,13,236 crore (6 months)
Fadnavis stated that Rs 1,13,236 crore in foreign investments is 94.71% of the four-year annual average of Rs 1,19,556 crore in just six months. He also said that Maharashtra outperformed all other states regarding FDI input, accounting for approximately 31.48% of the nation's total inflow during this time. Between October 2019 and September 2024, Maharashtra attracted Rs 6,45,664 crore in FDI, representing 31.48 per cent of the national total. Karnataka and Gujarat ranked second and third, with shares of 20.79 per cent and 16.44 per cent.
Given the rapid pace of FDI inflows in the first half of 2024-25, Maharashtra has set the stage for potentially record-breaking inflows by year-end. It is also pertinent to mention that the announcement comes ahead of Fadnavis’ visit to Davos for the World Economic Forum (WEF) summit, where the state government aims to secure more investments.
Interestingly, the data presented by Fadnavis serves as a strong rebuttal to the opposition's agenda during the Maharashtra Assembly Elections, where they accused the ruling BJP of diverting investments intended for Maharashtra to other states, especially Gujarat. It had massively campaigned to portray the BJP-led government as purposefully creating an obstacle towards Maharashtra's economic growth and industrial development and favouring other BJP-ruled states.
These figures also suggest that foreign companies and investors view Maharashtra as a favourable destination for investment in various sectors. This can be attributed to the stability provided by the government in the state over the past two years. A closer look at the data reveals that Maharashtra witnessed a dip in 2021-22 during Uddhav Thackeray’s tenure under the Maha Vikas Aghadi (MVA) government. However, with the formation of the Mahayuti government in June 2022, Maharashtra successfully regained its leading position by October 2024 on a large scale, reaffirming investor confidence and economic growth. This speaks high volumes of the investors’ faith in a politically stable government like the Fadnavis-led Mahayuti government. It sets an example to enhance its growth through its investor-friendly FDI policy.
The FDI data highlights that major infrastructure projects, such as the Mumbai Trans Harbour Link, Navi Mumbai International Airport, Samruddhi Mahamarg and the expansion of metro rail networks, play a key role in attracting foreign investments to the state. These initiatives bolster investor confidence by offering modern facilities, seamless operations, and enhanced logistics. This also sends the right message to investors who are eager to invest in Maharashtra.
It also reflects on the current government's commitment to the slogan, "BJP Chi Sarkar Mhanje Vikas Chi Sarkar", emphasising its focus on development and progress.
Fadnavis's detailed presentation showcases Maharashtra's continued progress and ability to attract substantial investments under the BJP's governance.