Nagpur: Maharashtra’s remarkable feat of attracting the highest foreign direct investment (FDI) during the first quarter of the current financial year 2024-2025 is seen by the ruling state government as a testament to the state’s burgeoning economic potential.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), Maharashtra maintains a number one slot among other states as it has received the FDI of Rs 70,795 crore in the first quarter of April to June 2024-25. This substantial amount of investment is a testament to Maharashtra’s robust economy and its attractiveness to foreign investors.
The neighbouring Karnataka ranked second by attracting investment worth Rs 19,059 crore, Delhi third with Rs 10,788 crore, Telangana fourth with Rs 9,023 crore, Gujarat fifth with Rs 8,508 crore, Tamil Nadu sixth with Rs 5,818 crore, Uttar Pradesh eighth with Rs 370 crore and Rajasthan ninth with Rs 311 crore.
Deputy Chief Minister Devendra Fadnavis posted on social media platform X on Friday: “Congratulations, Maharashtra! Very happy news!! 52.46 per cent of the total investment in the country. Foreign investment only in Maharashtra!!!”
He said the investment attracted by Maharashtra was the highest and much more than the other states, a promising sign for the state’s economic growth.
“In short, 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 alone is reported in Maharashtra,” said Fadnavis.
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The BJP leader said that Maharashtra had received Rs 12,35,101 crore FDI in 2023-24, more than that of Gujarat and more than Gujarat plus Karnataka combined. Further, Maharashtra had attracted FDI worth Rs 1,18,422 crore in 2022-23, more than Karnataka, Delhi and Gujarat combined.
He said that during the BJP-led government, under his chief ministership from 2014 to 2019, a total of Rs 3,62,161 crore of foreign investment came to Maharashtra.
“On the very first day (June 30, 2023), we had said that we (MahaYuti) would complete the work of a five-year term in two-and-a-half years. Now, in two-and-a-half years we have brought an investment of Rs 3,14,318 crore. Q2 figures are still to come,” he said.
The DPIIT’s data has come as a major relief to the MahaYuti government, a coalition of political parties, especially when the Maha Vikas Aghadi, another political alliance, has been stepping up attacks against it for the flight of capital and investments to Gujarat and other states during its rule.
The trigger for MVA’s criticism was the loss of Rs 1.80 lakh crore Vedanta-Foxconn project, Tata Airbus manufacturing plant, GAIL’s 1.5 million tonnes per annum ethane cracking unit at Sehore, Madhya Pradesh, with an investment of Rs 50,000 crore to other states.
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–IANS
