Maharashtra Chief Minister Devendra Fadnavis and senior officials secured 18 investment proposals worth Rs 4,99,321 crore during the World Economic Forum (WEF) summit in Davos. The agreements span sectors such as steel, renewable energy, infrastructure, cement, lithium-ion batteries, and solar modules. However, the initiative sparked criticism online, with many questioning the rationale behind signing MoUs with Indian companies on an international platform.
HUGE MILESTONE !
— CMO Maharashtra (@CMOMaharashtra) January 21, 2025
Maharashtra’s Mission @ #WEF25 Davos!
MoU 6
Signed between
Govt of Maharashtra & JSW Group.
Total investment: ₹3,00,000 crore
Employment : 10,000
Location : Gadchiroli
Sector: Steel, Renewable Energy, Infrastructure and Cement, Lithium-Ion Batteries,… pic.twitter.com/r0mwZHCkZ3
Among the major deals was a Rs 3,00,000 crore investment by the JSW Group to develop projects in the Naxal-affected Gadchiroli district. This was the largest of the 20 MoUs signed during the summit. Another significant agreement involved Belgium-based brewer AB InBev, which plans to invest Rs 750 crore to establish a plant in Chhatrapati Sambhajinagar. Pune’s Kalyani Group announced a Rs 5,250 crore investment, while Mumbai-based Waaree Energies committed Rs 30,000 crore to build a solar PV module plant in Nagpur.
Netizens React To Indian Companies Signing MoUs In Davos
Chief Minister Fadnavis highlighted that these investments would accelerate Maharashtra's industrial growth and promote sustainable development. However, netizens criticised the state government for finalizing MoUs with Indian companies at Davos, suggesting that such agreements could have been signed locally, such as in Mumbai’s industrial hub, Lower Parel.
Check netizens reactions here:
I seriously have 1 question @CMOMaharashtra @Dev_Fadnavis Kalyani group of companies is an Indian company head quartered in Pune at the distance of 2 Hrs max by your cavalcade which throws other traffic out of gear. So why did u have to go to Davos to sign the deal with kalyani?… https://t.co/ukifIU7yR6
— VT - EBO (@amp1066_ani) January 21, 2025
indian minister signing agreements and stuff w indian industrialists in switzerland
— Balram Vishwakarma | बलराम विश्वकर्मा (@Balram1801) January 22, 2025
(bhai lower parel mein hi yeh sab kar lete... kaahe davos gaye?) https://t.co/iCzXhQ7OD7
Why we need Indian Investors,to sign MoU at DAVOS?If ppl's memory isn't short,JSW had signed MOU wid Left Govt back in 2005,for 10MTPA Steel plant in WB,where Govt offered 3600 Acres of Land to them.Govt has to show Resolve to Execute its long pending Infra Project; #Boramani, https://t.co/RgQ7OXS2uV
— Sanjiv Sarkar (@sanjivsk50) January 21, 2025
Both are indian signing in Davos. https://t.co/PSEdIHIrPK
— Hashimkhan (@Hashimkhan66532) January 22, 2025
Indian Government should discourage Govt officials from visiting foreign nation for photo-ops and wasting taxpayers money. Many useless ministers are on visit to Switzerland currently. These photo-ops could have happend in remote corner of india. https://t.co/G1XXj8AHDq
— SHIVAM KUMAR (@1shivamkr) January 22, 2025
जिंदाल यांचे कार्यालय मुंबईला आहे सन्मानिय मुख्यमंत्री. त्यासाठी दावोस ला जाण्याची गरज नव्हती. https://t.co/NHgeEKC8ph
— Aniket Gadge (@GadgeAniket015) January 22, 2025
The agreements also include investments from other major players:
- Blackstone-Panchshil Realty: Rs 25,000 crore
- ZR2 Group: Rs 17,500 crore
- Balasore Alloys Limited: Rs 17,000 crore
- Reliance Infrastructure: Rs 16,500 crore
- Viraj Profiles: Rs 12,000 crore
- H2E Power: Rs 10,750 crore
- Avani Power Batteries: Rs 10,521 crore
- Welspun: Rs 8,500 crore
- Essar Group: Rs 8,000 crore
- Gensol: Rs 4,000 crore
- Blue Energy Motors: Rs 3,500 crore
- Elmont: Rs 2,000 crore
- Tembo Global Industries: Rs 1,000 crore
- BookMyShow: Rs 1,700 crore
- Bisleri International: Rs 250 crore