Maharashtra Deputy CM Devendra Fadnavis attended the Energy Summit of Bharat Express in Mumbai on Wednesday, 7 August. During the summit, Bharat Express News Network Chairman, CMD, and Editor-in-Chief Upendrra Rai questioned Fadnavis about the recent trend of projects moving from Maharashtra to Gujarat. Rai asked if the criticisms from opposition leaders like Uddhav Thackeray and Sharad Pawar regarding this shift were valid.
Fadnavis Addresses Project Relocation
In response, Fadnavis acknowledged that some projects had indeed moved to Gujarat and Karnataka during his tenure. He pointed out that such relocations could be influenced by various factors. Fadnavis emphasized that if a state’s own police were involved in criminal activities, it would deter investors. He illustrated his point by suggesting that no major industrialist would invest in a state where the police were planting bombs and making threats.
Maharashtra’s FDI Performance
Fadnavis highlighted that despite these challenges, Maharashtra consistently led the country in Foreign Direct Investment (FDI) from 2015 to 2019. He noted that before 2014, the state ranked lower in FDI, but under his leadership, Maharashtra achieved top positions with 49% and 42% of the country’s total FDI in consecutive years. Fadnavis criticized the previous government for its failure to maintain this trend, leading to Gujarat and Karnataka briefly surpassing Maharashtra in FDI rankings.
Current Investment Status
Fadnavis reassured that Maharashtra has reclaimed its position as the top state for FDI. He stated that in both 2022-23 and 2023-24, Maharashtra led in investment, surpassing the combined total of Gujarat, Karnataka, and Delhi. He emphasized that Gujarat, Karnataka, Delhi, and Tamil Nadu are now behind Maharashtra in terms of investment. Fadnavis concluded by affirming that Maharashtra is the undisputed leader in attracting FDI and reiterated his belief that the state’s competitive edge remains strong.
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