Maharashtra has emerged as the top recipient of Foreign Direct Investment (FDI) in India for the first quarter of the 2024-2025 financial year, according to recent data from the Department for Promotion of Industry and Internal Trade (DPIIT).
During the period from April to June 2024, Maharashtra attracted Rs 70,795 crore in FDI, accounting for over 50% of the total FDI received nationwide. This positions Maharashtra as the leading state for foreign investments, far surpassing other regions.
In comparison, Karnataka secured the second spot with Rs 19,059 crore, followed by Delhi with Rs 10,788 crore. Telangana and Gujarat came in fourth and fifth, attracting Rs 9,023 crore and Rs 8,508 crore respectively. Tamil Nadu ranked sixth with Rs 5,818 crore. Uttar Pradesh and Rajasthan received Rs 370 crore and Rs 311 crore respectively.
Deputy Chief Minister Devendra Fadnavis expressed his satisfaction on social media, stating, “Congratulations Maharashtra! Very happy news!! 52.46 per cent of the total investment in the country is in Maharashtra alone!”
Fadnavis highlighted that the state’s FDI for this quarter was higher compared to other states. He noted that out of a total national FDI of Rs 1,34,959 crore, Maharashtra received Rs 70,795 crore, or 52.46% of the total.
The BJP leader also pointed out Maharashtra’s strong performance over the past years, mentioning that in the fiscal year 2023-24, the state received Rs 12,35,101 crore in FDI, surpassing Gujarat and the combined total of Gujarat and Karnataka. For the fiscal year 2022-23, Maharashtra attracted Rs 1,18,422 crore in FDI, exceeding the combined figures for Karnataka, Delhi, and Gujarat.
Fadnavis further emphasized the state’s achievements during his tenure as Chief Minister from 2014 to 2019, noting that Maharashtra received Rs 3,62,161 crore in foreign investments under his leadership.
He also referred to the government’s ambitious goal, “On the very first day (June 30, 2022), we said that we would complete a five-year term’s work in two-and-a-half years. Now, in two-and-a-half years, we have brought in Rs 3,14,318 crore in investment. We are still awaiting Q2 figures.” he added.
The DPIIT report offers a major boost to the MahaYuti government, especially in light of criticism from the Maha Vikas Aghadi (MVA) regarding the relocation of major investment projects to other states. The MVA had previously criticized the current administration for losing key projects like the Rs 1.80 lakh crore Vedanta-Foxconn venture and other large-scale investments to states like Gujarat and Madhya Pradesh.
