Mumbai, March 13 – Industries Minister Uday Samant stated in the Legislative Assembly on Friday that Maharashtra continues to be the premier destination for investment in India.
Responding to a proposal under Rule 293, the Minister revealed that the state secured Memorandums of Understanding (MoUs) worth over Rs 31 lakh crore during the 2026 World Economic Forum in Davos.
For the third consecutive year, Maharashtra has maintained its top position in attracting Foreign Direct Investment (FDI), a feat the Minister attributed to the state's robust industrial ecosystem and proactive policy-making.
He announced that the government will soon release a white paper outlining the current status of MoU implementation.
Minister Samant highlighted that the investments are not limited to the Maharashtra Industrial Development Corporation (MIDC) but span multiple key departments. Of the Rs 31 lakh crore MoUs for investments, the Industries Department has signed MoUs worth Rs 15.15 lakh crore, the Mumbai Metropolitan Region Development Authority Rs 15.10 lakh crore, and the Maharashtra State Road Development Corporation Rs 1 lakh crore.
"While other states see a project implementation rate of 35 per cent to 40 per cent, Maharashtra has achieved a conversion rate of 75 per cent to 80 per cent since 2022," the Minister noted, emphasizing that these agreements will lead to massive job creation and industrial growth.
In a significant move for urban welfare, the state government is preparing a dedicated policy for the rehabilitation of slums on MIDC (Maharashtra Industrial Development Corporation) land.
Minister Samant explained that an SRA (Slum Rehabilitation Authority) policy, modelled after the state's Industrial and Gems & Jewellery policies, is under consideration. A formal decision is expected within the next two months. The initiative aims to provide permanent housing to families who have resided on industrial lands for years.
The Minister reaffirmed the Industries Department's commitment to balanced regional development.
He stated that the government is focused on establishing new MIDC areas and boosting employment to ensure that the benefits of industrialisation reach every corner of the state.
Addressing concerns regarding Mumbai's infrastructure, the Minister stated that the Brihanmumbai Municipal Corporation's (BMC) fixed deposits remain secure and are being utilised effectively for development.
He told the assembly that 1,048 roads spanning 278.83 km have been completed. Work on Phase 1 is 54 per cent complete, while Phase 2 stands at 56 per cent.
Following the discovery of irregularities amounting to Rs 65 crore, the government has taken strict action against those involved. To ensure transparency, tenders worth Rs 380 crore were cancelled and are being re-invited.