Davos 2025: Maharashtra Signs MoUs Worth Rs 4.99 Lakh Crore, Aims To Create Over 92,000 Jobs
The speciality of the MoUs is that they are in various areas of divisions of Maharashtra, says CM Devendra Fadnavis.
Maharashtra kicked off the World Economic Forum in Davos with a bang, with Chief Minister Devendra Fadnavis signing memorandums of understanding worth Rs 4.99 lakh crore on the first day. The investments are set to generate over 92,000 jobs across key sectors, including defence, renewable energy, steel and infrastructure.
According to ANI, the largest deal was inked with the JSW Group, which committed Rs 3 lakh crore to projects in steel, renewable energy, cement, infrastructure and electric vehicles. This partnership will create 10,000 jobs, with a special focus on Nagpur and Gadchiroli.
In a first for the industrially underdeveloped Gadchiroli district, the state secured a Rs 5,200-crore investment from the Kalyani Group. ANI reported that the deal, focused on defence, steel and EVs, will generate 4,000 jobs, marking a milestone for balanced economic development in Maharashtra.
The state also saw substantial investments in the metals and infrastructure sectors. Reliance Infrastructure pledged Rs 16,500 crore to the defence sector in Ratnagiri, as per ANI. Balasore Alloys and Viraj Profiles committed Rs 17,000 crore and Rs 12,000 crore, respectively, for projects in steel and metals.
In the renewable energy sector, Waaree Energies signed an MoU to invest Rs 30,000 crore in solar device manufacturing, creating 7,500 jobs in Nagpur, ANI reported. Meanwhile, in the IT sector, Blackstone pledged Rs 25,000 crore to develop IT infrastructure across the Mumbai Metropolitan Region, which is expected to generate 1,000 jobs.
Speaking to ANI, Fadnavis said: "We have signed an MoU with JSW worth Rs 3 lakh crore. It is a different portfolio. It includes EV, solar manufacturing and steel...We had very good MoUs today. The speciality of MoUs is that they are from almost all fields and they are in various sectors of Maharashtra, various areas of divisions of Maharashtra."
Additionally, ANI reported an agreement with Friends Union for Energizing Lives to train 5,000 youth in artificial intelligence, digital marketing, and business analytics. Fuel also plans to establish the Fuel Skilltech University in Pune.
