Maharashtra is India's gateway for foreign investment: Fadnavis at Davos

Mumbai, Jan 19 (PTI) Chief Minister Devendra Fadnavis on Monday said Maharashtra has emerged as India's gateway for foreign investment and will keep on attracting large investments across regions and sectors.

Speaking at the Maharashtra Pavilion on the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Fadnavis noted that the state's credibility and strong execution record have strengthened global investor confidence.

"Maharashtra is reliable. We do what we say, and that is why investors from across the world trust us," he said, adding that the ecosystem created under Prime Minister Narendra Modi's leadership has helped the state attract large-scale investments," he said, according to a release issued by the Chief Minister's Office (CMO).

Fadnavis said Maharashtra is engaging with industries in 10 to 12 sectors and expects strong investment interest in projects such as the third Mumbai and other infrastructure-led developments.

Maharashtra received 39 per cent of India's total foreign direct investment (FDI) last year, making it the leading destination for overseas capital, he stated, adding that the state has implemented 15 to 16 investor-friendly policies to create a stable business environment.

Fadnavis informed that investment agreements worth Rs 16 lakh crore were signed last year, with Maharashtra achieving a conversion rate of 50 to 55 per cent, while Davos-related agreements recorded 75 to 80 per cent conversion, much higher than the national average.

Maharashtra aims to become India's first trillion-dollar economy by 2030, supported by strong growth, urban infrastructure expansion and focus on future technologies such as artificial intelligence, data centres and startups.

The chief minister assured investors of full protection and a zero-tolerance approach on law and order, saying Maharashtra remains one of the safest and most reliable destinations for investment in India. PTI MR NSK