State targets securing INR 7 lakh crore contracts from Davos

On By Littum

The Mahayuti government has initiated strong preparations to bring more investment to the state through the World Economic Conference to be held in Davos, Switzerland from January 20 to 24. Last year, the government signed a memorandum of understanding worth 3 lakh 53 thousand crore rupees in Davos. This year, preparations are underway to make investment deals worth twice that amount, ie around seven lakh crore rupees, and most of these deals will actually be implemented in the next 100 days, reliable sources in the ministry said.

The World Economic Forum organizes the World Investment-Economic Conference in Davos every year. This year’s conference will be held between the 20th and 24th January. Chief Minister Devendra Fadnavis, Industries Minister Uday Samant, Chief Minister’s Upper Chief Secretary Vikas Kharge, Principal Secretary Ashwini Bhide, Special Duty Officer Kaustubh Dhavse, Industries Secretary P Anbalgan, Development Commissioner Dipendra Singh Kushwaha, Mumbai Metropolitan Area Development Authority Commissioner Dr. Sanjay. CIDCO Managing Director Vijay Singhal, Maharashtra Industrial Development Corporation CEO P Velarasu and other 20 people will be included in this team.

Through this financial conference, emphasis will be placed on bringing more and more foreign direct investment into the state. Accordingly, Chief Minister Fadnavis said in a meeting of the industries department a few days ago that the process of doing business should be further improved to bring maximum investment in the state. Besides, orders were given to the Industries Department to make changes in various industrial policies from time to time.


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Likely investments

● In Davos, the government is determined to invest massively in steel, information technology, artificial intelligence, green energy, agriculture, logistics, electronics, education

● Last year, an investment deal of 3.5 lakh crore rupees was signed at the Davos conference. It aims to create two lakh jobs. This year, the target is to sign an investment agreement of 6 to 7 lakh crore rupees, which will create 5 to 6 lakh jobs

● Right now 25 to 30 companies have got investment certificates worth INR 3 lakh crore and FDI of INR 50,000 to 60,000 crore is expected through Davos. Sources said discussions are ongoing

● It is planned that the memorandum of understanding in Davos will not only remain on paper, but will be implemented in 100 days.