 "L to R - Maharashtra Deputy CM Devendra Fadnavis, CM Eknath Shinde and Deputy CM Ajit Pawar inaugurate Dharmveer Swarajya Rakshak Chhatrapati Sambhaji Maharaj Coastal Road in Mumbai on Monday, 11th March 2024 | Photo: Kamlesh Pednekar")
Maharashtra Deputy CM Devendra Fadnavis, CM Eknath Shinde and Deputy CM Ajit Pawar File Photo
Maharashtra has secured the highest foreign direct investment (FDI) in India for the second consecutive time. The state attracted Rs 70,795 crore in the April-June quarter (Q1) for the financial year 2024-25 (FY25), maintaining its position as the leading destination for foreign investment in the country.
This accounts for 52.46 per cent of India’s total FDI, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT). Commenting on the figures, Maharashtra’s Deputy Chief Minister, Devendra Fadnavis, said, “The total investment in the country during this quarter is Rs 1,34,959 crore, of which Rs 70,795 crore, or 52.46 per cent, comes from Maharashtra alone.”
Congratulations Maharashtra !
Very good news !
Maharashtra leads in FDI with a staggering 52.46% of India’s total investment !Maharashtra which is consecutively ranked No. 1 for last 2 years in FDI, now has secured maximum investment i.e 52.46% of India’s total FDI in the 1st… pic.twitter.com/IVKjGqzGTI
— Devendra Fadnavis (@Dev_Fadnavis) September 6, 2024
Maharashtra has held the top spot in FDI for the past two years. Fadnavis added that the state received Rs 12,35,101 crore in FDI during 2023-24, surpassing Gujarat and even more than the combined FDI of Gujarat and Karnataka.
According to the data, Maharashtra has left behind eight states — including Karnataka, Delhi, Telangana, and Gujarat. Karnataka followed at a distant second, with FDI totalling Rs 19,059 crore.
State-wise FDI list for Q1FY25
Maharashtra — Rs 70,795 crore
Karnataka– Rs 19,059 crore
Delhi — Rs 10,788 crore
Telangana — Rs 9,023 crore
Gujarat– Rs 8,508 crore
Tamil Nadu — Rs 8,325 crore
Haryana — Rs 5,818 crore
Uttar Pradesh– Rs 370 crore
Rajasthan — Rs 311 crore
While sharing this data, Fadnavis also wrote, “We promised from day one that we would achieve in 2.5 years what would normally take 5 years! In just 2 years and 3 months, we have attracted Rs 3,14,318 crore in investments, and the figures for the second quarter are yet to be revealed…”
He further noted that during his tenure as Maharashtra’s chief minister from 2014 to 2019, the state attracted Rs 3,62,161 crore in foreign investment.
Shot in the arm for Mahayuti govt
The DPIIT data provides a major boost to the Mahayuti government, which has been under fire from the Opposition Maha Vikas Aghadi (MVA) coalition, which has accused it of losing investment to Gujarat and other states.
The MVA’s criticism intensified after Maharashtra missed out on multi-crore projects such as the Rs 1.8 trillion Vedanta-Foxconn project, Tata Airbus manufacturing plant, and Gail’s Rs 50,000 crore ethane cracking unit in Sehore, Madhya Pradesh.
First Published: Sep 06 2024 | 4:29 PM IS