Maharashtra signs Rs 6.25 lakh crore deals during Davos WEF meet

Mumbai: In one of the biggest investments during the World Economic Forum at Davos, the Maharashtra government has signed MoUs to the tune of Rs 6.25 lakh crore including a mega deal with the JSW Group which is aimed at transformation of the once Naxalite-affected Gadchiroli district, which is being described as a Steel City on the lines of Jamshedpur.

Maharashtra Chief Minister Devendra Fadnavis is leading a delegation of the state to the WEF, the annual meet in the Swiss ski resort town.

According to latest reports from Davos, the Maharashtra government has inked deals to the tune of Rs 6,25,457 crore which will create over one lakh jobs across sectors in the state.

“Maharashtra is creating history...Maharashtra bags a whopping Rs 6,25,457 crore of investments at Davos in just one day…and this is just the beginning…to be continued,” Fadnavis posted on X.

The biggest chunk of MoUs worth Rs 3 lakh crore, was signed with JSW Group and covers sectors such as steel, renewable energy, infrastructure, cement, lithium-ion batteries, solar wafers, and cell modules.

The 31-odd MoUs were signed with JSW Group, Tata Group, Reliance Infrastructure Ltd, Kayani Group, Balasore Alloys Ltd, Viraj Profiles Pvt Ltd, AB InBev, Waaree Energies, Telmo, Elmont, Blackstone, Blackstone and Panchshil Realty, Adani Power, Jensol, Bisleri International, H2E Power, ZR2 Group, Blue Energy Motors, Book My Show, Welspun, L’Oréal, Olectra EV, Erulearning Solutions, United Phosphorus Ltd, Essar, Anvi Power Batteries.

The Centre and the Maharashtra government is giving a major push to the industrialisation in the tribal district of Gadchiroli, which was once affected by Naxalism.

In fact, Fadnavis spent his New Year Day in Gadchiroli district, during which he launched several projects and said, “Naxalism is nearing its end in Maharashtra”.

The move of Fadnavis has earned praise not only from Prime Minister Narendra Modi but also leaders of opposition parties like Uddhav Thackeray-led Shiv Sena (UBT) and Sharad Pawar-headed NCP (SP).

Announced at the World Economic Forum (WEF) in Davos, this ambitious partnership will further cementing the state’s position as India’s leading industrial hub.

The MoUs were signed in presence of Maharashtra Chief Minister Devendra Fadnavis and state Industries Minister Uday Samant.

“Signing of an MoU with JSW Steel, a company with diverse investments across key sectors such as steel, solar, auto, and cement in Maharashtra, is a significant step in fulfilling our vision to developing Gadchiroli as the ‘steel city’ of India,” said Fadnavis, who is also the guardian minister of the Gadchiroli district.

State Industries Minister Uday Samant and other officials were also present at the event. “Today is a historic day for Maharashtra,” said Fadnavis.

“JSW’s continued commitment to Maharashtra, including their focus on electric vehicles and sustainability, is a clear testament to their confidence in our state’s potential. I am confident that this collaboration will further strengthen Maharashtra’s position as an industrial and economic powerhouse, driving innovation, job creation, and long-term prosperity for our people,” said Fadnavis.

JSW Group Chairman Sajjan Jindal said the MoU reflects our unwavering commitment to Maharashtra, a state that has been pivotal to JSW Group’s journey of growth and innovation.

“Through this partnership, we take another step towards Modi’s vision of Clean and Green Bharat. This investment will not only boost industrial development but also drive India’s green transition with sustainable technologies, clean mobility and renewable energy solutions.”