Maharashtra Signs First MoUs at the Davos Worth ₹4.99 lakh crore.

Maharashtra Signs Historic MoUs Worth ₹4.99 Lakh Crore at Davos

Written by: Supriya Kadu

Edited by: Pinky Deshmukh

Last Updated: January 23, 2025

Summary: The first Memorandum of Understanding was signed in Davos for the Gadchiroli district.

In Davos, Maharashtra signed memorandums of understanding (MoUs) totaling ₹4.99 lakh crore on the first day of the World Economic Forum. It is anticipated that these investments will create 92,235 employment.

For investments in steel, renewable energy, infrastructure, cement, lithium-ion batteries, solar wafers, and cell modules, the most important Memorandum of Understanding (MoU) was inked with JSW Group, valued at ₹3 lakh crore.

The state administration signed 20 Memorandums of Understanding (MoUs), the largest of which was worth over ₹5,00,000 crore, on Tuesday during the World Economic Forum's (WEF) annual conference in Davos, Switzerland. Two or more parties can enter into a formal, non-binding agreement called an MOU.

The ₹5,200 crore agreement was struck with the Kalyani Group for initiatives in steel production, electric car manufacture, and defense manufacturing. It is anticipated that the effort will create 4,000 jobs in the district.

AB InBev, JSW, Vari Energy, Tembo, Blackstone, Panchshil Realty, Avni Power Batteries, GenSol, Bisleri International, Viraj Profiles Pvt. Ltd., Reliance Infrastructure, and Balasore Alloys Ltd. are among the companies that have invested in the deals. The investments include steel, automobiles, IT, infrastructure, entertainment, electronics, energy, and logistics.

Chief Minister Devendra Fadanvis said, “Today is a historic day for Maharashtra. While it’s snowing outside in Davos, the investment flow inside has created a warm atmosphere.” Investors are lining up to invest in Maharashtra, he said, highlighting the state's business-friendly climate.

Additionally, the Maharashtra government and FUEL (Friends Union for Energizing Lives) inked a deal to provide 5,000 young people with training in digital marketing, business analytics, and artificial intelligence. Additionally, FUEL revealed plans to open the FUEL SkillTech University in Pune.