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Maharashtra govt attracts FDI worth Rs 2 lakh crore at World Economic Forum | Mumbai News


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MUMBAI: Maharashtra government has been able to attract an FDI (foreign direct investment) worth Rs 2 lakh crore through industrial and corporate agreements at the World Economic Forum at Davos, Switzerland. These agreements were made as part of Magnetic Maharashtra MM 2.0 initiative.
At the ongoing Davos summit the state industries and environment departments have entered partnerships in order to implement certain programmes such as driving manufacturing growth and banning plastic in the state to give renewed push to the economic and industrial reforms.
Maharashtra Inaugurated its Pavillion at WEF, Davos, with a pledge to achieve sustainable development for a trillion dollar economy, revealed a statement issued by state industrial development corporation. The Maharashtra state is participating as a part of Team India representing the state’s role in building the $5 trillion economy for India.
Maharashtra had launched the Magnetic Maharashtra 2.0 program for attracting investments in the state. So far, in the 9 editions of the MM 2.0 initiative, Maharashtra has been able to attract INR 1.89 lac crore in new investments in addition to an FDI of more that INR 2 lac crore, highest in India, said a release. Now, the MIDC is executing the 10th edition of Magnetic Maharashtra 2.0 at the World Economic Forum.
The state delegation has a series of high-powered meetings lined up with global CEOs of Fortune 500 companies and hopes to mobilize huge investments in Maharashtra. Some of the key investors that the state met today included Suntory – a global beverage company that is leading efforts in sustainable packaging; UPL, a multinational major in chemicals who are investing Rs 5000 Cr in 200 acres of land in Raigad district of the state.
The state also signed an MoU with the Global Plastic Action Partnership (“GPAP”)and initiated the Maharashtra Plastic Action Partnership (Maharashtra PAP), which will serve as a roadmap for sustainable development in the state. Maharashtra was the first state to ban single use plastic in 2018 and has been at the forefront in sustainable development with aggressive policies and action plans to balance development and climate change.
State delegation also met the UAE Minister for Environment Maria Al Mheiri for enhancing bilateral environmental collaboration and Sutendra Patawari, the Chairman of Gemini Corporation, the Belgium based multinational who are in to recycling and reuse of scrap material
The state delegation is led by Minister of Environment & Climate Change, Aaditya Thackeray, Minister of Industries Subhash Desai and Energy minister Nitin Raut who are bPuneg accompanied by ACS to Chief Minister Ashish Kumar Singh, ACS Industries Baldev Singh, MD of MSEDCL Vijay Singhal, and CEO of MIDC Dr P. Anbalagan.
The partnership with GPAP will bring together Maharashtra’s leading policy-makers, business leaders, civil society organizations and experts to formulate a state-level plan to eradicate plastic pollution. The announcement follows the fifth United Nations Environment Assembly (UNEA 5), where a resolution was adopted in March 2022 that will hold member nations legally accountable for their contributions to the global plastic pollution crisis.
“Covid proved a hurdle towards our single use plastic ban, where health priorities in PPP took precedent. Now as we refocus on our climate and sustainability objectives, we are laying the foundation to deliver the systems-wide change needed across sectors. This partnership is the building block as we transition towards a more resource circular approach to tackle climate change while strengthening our economy,“Thackeray said while speaking at Davos.

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