Maharashtra Deputy CM Devendra Fadnavis, CM Eknath Shinde and Deputy CM Ajit Pawar File Photo
Maharashtra has garnered 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 top foreign investment destination in the country.
According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), this accounts for 52.46 per cent of India’s total FDI. Commenting on the figures, Maharashtra 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, is from Maharashtra alone.”
Congratulations Maharashtra!
Very good news!
Maharashtra leads FDI with a staggering 52.46% of India’s total investment!Maharashtra, which has consecutively held the No. 1 position for the last 2 years in FDI, has now secured maximum investment i.e. 52.46% of India’s total FDI in the 1st quarter. image.twitter.com/IVKjGqzGTI
— Devendra Fadnavis (@Dev_Fadnavis) September 6, 2024
Maharashtra has held the top spot in terms of FDI for the last 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 outstripped eight states, including Karnataka, Delhi, Telangana and Gujarat. Karnataka follows a distant second with total FDI of Rs 19,059 crore.
State-wise FDI list for Q1 FY2025
Maharashtra– 70.795 crore rupees
Karnataka– 19,059 crores
Delhi– 10,788 crores
Telangana– 9,023 crores
Gujarat– 8,508 crores
Tamil Nadu– 8.325 crores
Haryana– 5,818 crores
Uttar Pradesh– 370 crores
Rajasthan — 311 crores
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 Q2 numbers are yet to be revealed…”
He further noted that during his tenure as Maharashtra chief minister from 2014 to 2019, the state attracted Rs 3,621,610 crore in foreign investment.
A shot in the arm for the Mahayuti government
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 investments to Gujarat and other states.
Criticism of the MVA intensified after Maharashtra lost multi-billion dollar projects like 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: September 6, 2024 | 16:29 IS
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