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Maharashtra inked 2,984 MoUs, realised 50%, says CM Devendra Fadnavis

Fadnavis on Saturday inaugurated the Logo of Magnetic Maharashtra - Convergence 2018, for the global investors' summit to be held at MMRDA grounds between February 18 and 20.

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CM Devendra Fadnavis
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Saying that Maharashtra had received an actual investment worth Rs 4,91,690 lakh crore through the Make in India initiative in 2016, Chief Minister Devendra Fadnavis on Saturday said that it had resulted in employment for 22 lakh people. Fadnavis said that the state government had inked 2,984 MoUs, of which 1,523 resulted in actual investment.

The CM said that the realisation of these MoUs at the National level ranges between 30-35 per cent. " The state government had inked MoUs worth Rs 8 lakh crores and an investment of Rs 4.91 lakh crores, which is 51 per cent, is already there. He said that the investors or potential investors had assured that with these MoUs, there will be employment opportunities with 30 lakh jobs, and we have already provided employment to 22 lakh which is 74 per cent of the assured employment opportunity," he said

Fadnavis on Saturday inaugurated the Logo of Magnetic Maharashtra - Convergence 2018, for the global investors' summit to be held at MMRDA grounds between February 18 and 20. A smartphone application as well as website of the event was also released by him. Minister for industries Subhash Desai and Tourism Minister Jaikumar Rawal were also present on the dais.

Fadnavis said, "Maharashtra is the most favoured destination for investment and last year, the state attracted 50 per cent of the foreign direct investment. As far as infrastructure is concerned, 50 per cent projects on infrastructure are being undertaken in Maharashtra."

Praising the industries department on its performance, Fadnavis said that Maharashtra has shown a new model of development where infrastructure-led development would change economy of the state. He said that it would result in addressing the agrarian crisis and also would result in stabilising the industry and service sector.

Minister for Industries Subhash Desai said that Maharashtra is most favored destination for investment with 15 per cent share in national GDP. He said that the state has industrial investment of 4 lakh crores through Make in India and there are 3.8 lakh MSMEs registered making Maharashtra the leaser state in country.

Magnetic maharashtra convergence

  • Prime Minister Narendra Modi would inaugurate Magnetic Maharashtra Convergence 2018
  • It would be 3-day global investors' summit between Feb18 and 20, 2018
  • It would be held at MMRDA ground.
  • 4000 including global investors would attend inaugural function.
  • Awards competition for start ups under 30 has been announced.
  • First award worth Rs. 50 lakh, 2'nd worth Rs. 30 lakhs and 3'rd worth Rs. 20 lakhs announced.
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