Maharashtra Inks Nearly $50 Billion in Investment Deals, Focus on Infra

Maharashtra government entities signed MoUs worth nearly $50 billion with both domestic and global investors on Tuesday, with a majority of the investment headed for infrastructure, the state government said in a release.

This comes after the state signed MoUs totalling around ₹15.7 trillion in January during the World Economic Forum in Davos.

A large portion of the latest investments will come from central government-owned listed companies. The Mumbai Metropolitan Region Development Authority signed MoUs totalling $49.02 billion with Housing and Urban Development Corp. Ltd. (₹18.09 billion), REC Ltd. and Power Finance Corp. Ltd. (₹12.06 billion each), Indian Railway Finance Corp. (₹6.03 billion), and the National Bank for Financing Infrastructure and Development, the release said. These investments will go toward infrastructure development in the Mumbai region.

In addition, Unilever’s Magnum Ice Cream Co. signed an MoU to set up its India headquarters in Mumbai, which will serve as a regional hub for West Asia, Turkey and South Asia. The company also plans to open a Global Capability Centre in Pune with an investment of ₹9 billion, expected to generate 500 direct jobs by 2029.