Chief Minister of Maharashtra, Eknath Shinde lines up MOUs in excess of $17 billion with investors, during visit to the World Economic Forum

DAVOS,Switzerland,Jan. 17,2023 --TheChief Minister of Maharashtra,India,Shri Eknath Shinde,has lined up 21 Memorandums of Understanding (MOUs) with leading foreign investors and global companies,worth over $17 billion,at the World Economic Forum (WEF). The investments are estimated to create more than 66,500 jobs over the next few years. These investments are aimed at jumpstarting Maharashtra on its ambitious $ 1-trillion economy goal journey.

Of these,the majority are greenfield projects in Data Centres,pharmaceuticals,logistics,chemicals,automobiles,electric vehicles,renewable energy and ESDM,which will foster inclusive growth,job creation and sustainable development. Shri Shinde is on a two-day visit to Davos,for the World Economic Forum (WEF).

Chief Minister of Maharashtra Eknath Shinde stated: "Maharashtra has been a key driver and contributor to India's economic growth. We are leading the way in delivering ground-breaking investment opportunities and building confidence for the investing community. These MOUs demonstrate the heightened interest in the state and are a testament to Maharashtra's progressive policies and investor-friendly initiatives under our new government. I have presented the progressive policy reforms of my government,making the state a part of the global conversation,to reiterate to political leaders and global investors why Maharashtra is a premier investment destination."

Maharashtra also signed the prestigious three-year Platform Partnership with the WEF,a commercial contract for continuous engagements on subjects of strategic importance to the State. The subjects focus on Shaping the Future of Urban Transformation - smart and connected cities,urban resilience,governance,infrastructure & services and resource management – and New Economies and Societies,focusing on entrepreneurship,education & skills,economic growth and job creation.

During his visit,Shri Shinde also will be presenting Maharashtra's progressive policies and investor-friendly outlook to key political and government representatives from Luxembourg,Saudi Arabia,and Singapore,among others.

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,petrochemicals,food processing and IT/ITeS.