Maharashtra bags MoUs for investments worth $50B at WEF

Maharashtra bags MoUs for investments worth $50B at WEF

Maharashtra Chief Minister Devendra Fadnavis has signed several deals at the World Economic Forum (WEF) in Davos, bringing new investments into the state and strengthening job creation.

The state government, through the Mumbai Metropolitan Region Development Authority (MMRDA), has signed five memoranda of understanding (MoUs) with Indian and foreign firms.

These MoUs are expected to bring in investments worth over $50 billion and create hundreds of thousands of jobs.

Major investments and job creation potential

The MoUs signed at the WEF include one with Sumitomo Realty & Development for an investment of $8 billion, and another with K Raheja Corp for $10 billion.

These two companies are expected to create around 80,000 jobs and 100,000 jobs respectively.

The biggest commitment came from Alta Capital in partnership with Panchshil Realty, which signed a deal proposing a $25 billion investment that could generate up to 250,000 jobs.