The Maharashtra government has signed 67 memorandums of understanding (MoUs) involving 65 companies, with proposed investments of Rs 8.57 lakh crore and potential employment for 2.91 lakh people.
The agreements were signed and exchanged in Mumbai during the launch of Invest Maharashtra, the state’s new investment-promotion and facilitation initiative. According to the Chief Minister’s Office (CMO), the proposed projects cover data centres, semiconductors, renewable energy, advanced manufacturing, aerospace and defence, metals, healthcare and agro-processing.
Chief Minister Devendra Fadnavis said the agreements involved 65 companies, while the total number of MoUs was 67, indicating that some companies had signed more than one agreement.
One of the largest proposals is a Rs 1 lakh crore investment by Akshat Greentech across Navi Mumbai and Pune. The proposal covers data centres, IT-enabled services and semiconductor-related projects.
Other major proposals include digital infrastructure and semiconductor projects by the Sterlite Group in Shahpur and Khalapur, a metals and mining project by Shyam Metalics and Energy in Chandrapur, a semiconductor facility by Pi-Semicon in Nashik and a data centre project by Astracity in Ratnagiri.
The latest agreements add to Maharashtra’s efforts to attract investments in digital infrastructure and advanced industries. Fadnavis had said in August that the state had signed data-centre MoUs worth more than $300 billion and expected its installed data-centre capacity to reach 5.7 GW by 2031. Mumbai and Navi Mumbai together account for around 65% of India’s existing data-centre capacity, according to his earlier statement.
The latest investment pipeline also extends beyond the Mumbai-Pune industrial corridor, with proposed projects in Chandrapur, Nashik, Ratnagiri and Ahilyanagar.
Fadnavis said the state wanted the investment programme to create opportunities for local MSMEs, suppliers, young workers and farmers, while also supporting industrial development across different regions of Maharashtra.
Invest Maharashtra has been established under the Maharashtra Industries, Investment and Services Policy 2025 as a government-investor interface to facilitate investments, monitor projects and coordinate with agencies including MIDC, MAITRI and other state departments.
The state has allocated Rs 3,000 crore for the initiative, including a Rs 1,000 crore catalytic fund for frontier and emerging manufacturing and services sectors. The framework also provides for investment country desks in markets including the US, Europe, Dubai, Taiwan, Australia and Japan.
The platform is expected to coordinate investor requirements related to land, power, infrastructure, government approvals and skilled manpower once projects are selected.
The Maharashtra Industries, Investment and Services Policy 2025 targets Rs 70.5 lakh crore in manufacturing and services investments and around 50 lakh direct jobs over the policy period. It also aims to increase manufacturing’s contribution to Maharashtra’s gross state value added from 13.8% in FY25 to 20% by 2047.
Fadnavis also reiterated the state government’s target of making Maharashtra a $1 trillion economy by 2030. The wider investment programme includes planned development around “Mumbai 3” and “Mumbai 4”, along with proposed education, medical, artificial intelligence and innovation hubs.