Davos 2025: Maharashtra CM Fadnavis Targets Deals Worth Rs 7 Lakh Crore

The Maharashtra government has set a target of signing memorandums of understanding (MoUs) worth Rs 7 lakh crore at the upcoming annual World Economic Forum (WEF) meeting in Davos in Switzerland, a senior official from the state industries department said on Thursday.

In 2023, Maharashtra signed MoUs worth Rs 1.37 lakh crore, while in 2024, MoUs worth Rs 3.53 lakh crore were signed, he pointed out.

"Maharashtra and Tamil Nadu are the two states in the country with the highest conversion rate of MoUs. This time we have raised the bar and plan to achieve an 80 to 85% conversion rate,' he said.

The WEF meeting will be held from January 20 to January 24, and the Maharashtra delegation will be led by Chief Minister Devendra Fadnavis.

The Maharashtra government has also set a deadline of March 31 to execute the maximum number of MoUs, he said.

The industries department reviewed the outcomes of the last two WEF meetings and the challenges faced while converting MoUs into investments, and this will help improve the state's approach and rectify any mistakes it at all, the official said.

Incidentally, the opposition had last year demanded that the government publish a White Paper on the MoUs.

While then industries minister Uday Samant had promised in June 2024 to come out with a White Paper, it has still not been done.