Maharashtra Shines at Davos: Poised to Become the Data Center Capital – CM Devendra Fadnavis

Record Investments of ₹15.75 Lakh Crore, 16 Lakh Jobs Created; CM Fadnavis Addresses Media from Davos
By Team DGIPR – January 23, 2025

Mumbai : Maharashtra dominated India’s pavilion at the World Economic Forum in Davos, securing record investment agreements worth ₹15.75 lakh crore with global industry giants. These investments are expected to create 15.98 lakh jobs in the state, Chief Minister Devendra Fadnavis announced. Expressing gratitude to the people of Maharashtra for the opportunity to participate in the Davos forum, CM Fadnavis shared details about 61 agreements signed, including 54 investment deals and 7 strategic collaborations.

“Maharashtra will soon become the data center capital. Data is the ‘new oil’ of this era, and this sector is set to grow rapidly,” CM Fadnavis stated during a virtual press conference from Davos, with Industry Minister Uday Samant joining from Mumbai.

The Chief Minister began by paying tribute to Shiv Sena founder Balasaheb Thackeray on his birth anniversary and thanked Prime Minister Narendra Modi for enabling Maharashtra’s participation alongside six other Indian states at the forum. Fadnavis highlighted the global perspective shift towards India under Modi’s leadership, which has instilled newfound confidence in the country.

During the ‘Country Dialogue’ session, CM Fadnavis joined Andhra Pradesh CM Chandrababu Naidu and Telangana CM Revanth Reddy to showcase their respective states’ strengths, development opportunities, and investment potential. He emphasized a unified approach, presenting India as a single entity to attract maximum global investments.

The state also highlighted its water conservation initiatives, including the Jalyukt Shivar scheme, as part of discussions on global cooperation for water security. Maharashtra’s efforts in water conservation and its role in attracting investments as an “attractive investment destination” were showcased effectively.

Investment Success and Regional Development
CM Fadnavis expressed pride in Maharashtra’s record-breaking investment agreements, which underscore the state’s economic strength. He noted that while India typically achieves a 40% success rate in converting agreements into investments, Maharashtra’s rate stands at 65%, with 95% of agreements signed during previous Davos visits under former CM Eknath Shinde being implemented.

Investments are flowing into key regions, with ₹6 lakh crore in the Mumbai Metropolitan Region (MMR), ₹5 lakh crore in Vidarbha, ₹30,000 crore in North Maharashtra, and significant manufacturing investments in Marathwada. These foreign direct investments and institutional investments are set to strengthen the national economy.

Why Davos?
Addressing questions on why many Indian companies signed deals at Davos, CM Fadnavis explained that Davos is an international networking hub where CEOs from around the globe convene. While many companies are Indian, they have global stakeholders, and discussions with foreign investors and partners are critical. Maharashtra leads in converting agreements into tangible investments, achieving a 65-70% success rate.

Focus on AI, IT, and Data Centers
Several agreements at Davos were aimed at positioning Maharashtra as a leader in artificial intelligence (AI). Deals with companies like Google will drive the creation of an Innovation City in Navi Mumbai, fostering a robust ecosystem. Highlighting data as the “new oil,” CM Fadnavis emphasized the vast growth potential in this sector. Maharashtra is also establishing an AI Excellence Center in partnership with Google. Discussions with global CEOs underscored the immense job creation potential in these fields.

Sustainability and Renewable Energy
Maharashtra has prioritized environmental sustainability, focusing on green energy, hydroelectric projects, and solar energy. The state plans to increase renewable energy from 13% in 2022 to 25% and aims for 50% by 2030. Maharashtra is also emerging as an EV hub and continues to promote sustainable energy initiatives.

Team Effort Recognized
CM Fadnavis commended Industry Minister Uday Samant, the Industries Department, MIDC, and advisory organizations for their coordinated efforts in achieving record-breaking investments. Their collaboration with multinational companies and various stakeholders ensured the success of the agreements.

Davos Highlights:

• Japan’s Sumitomo Group committed ₹43,000 crore for infrastructure development in Maharashtra, boosting progress through MMRDA initiatives.
• The collaboration exemplifies strong ties between Japan and Maharashtra, with Sumitomo Group President Kojun Nishima extending continued support to the state and Mumbai.