WEF: Eknath Shinde led govt to sign 21 MoUs worth Rs.1.40 lakh crore at Davos

Maharashtra has been the key driver and contributor to India's economic growth

January 17, 2023

Maharashtra investment: World Economic Forum mission $1 trillion

Maharashtra Chief Minister Eknath Shinde is all set to sign 21 MoUs worth Rs.1.40 lakh crore with a goal of a $1 trillion economy, intended to create over 66,500 jobs in the next five years, officials said here on Monday.

The MoUs are scheduled with major global conglomerates and investors in greenfield projects like data centres, pharmaceuticals, logistics, chemicals, automobiles, electric vehicles, renewable energy, and ESDM during Shinde’s ongoing visit to the World Economic Forum (WEF) in Davos, Switzerland.

Shinde, heading a 20-strong delegation, reached on Monday and will camp there during the next three days of the WEF before returning here late on Wednesday.

“Maharashtra has been the key driver and contributor to India’s economic growth. We lead 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 of our government,” Shinde said in a statement from Davos.

He showcased the progressive policy reforms of the 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.

On the occasion, Maharashtra 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, said Shinde.

In the next couple of days, Shinde will present Maharashtra’s progressive policies and investor-friendly outlook to key political and government representatives from Luxembourg, Saudi Arabia, and Singapore, among others.

Among the most industrialized states in India, Maharashtra contributes 15 percent to the national GDP and 16 percent to the country’s industrial output.

The services sector accounts for much of the state economy, up to 62 percent of the state GDP, followed by the manufacturing sector which contributes 20 percent through major industries including automobiles, engineering, textiles, pharmaceuticals, chemicals, petrochemicals, food processing, and IT/ITeS.

[With Inputs from IANS]

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