Maharashtra attracted 45% of country’s FDI in first six months
Fadnavis takes to social media to boast. In annual tally, state has remained on top for the last five years
MUMBAI: Chief minister Devendra Fadnavis got a chance to push his tagline ‘Ata Maharashtra Thambnar Nahi (‘There’s no stopping Maharashtra now’)’ when the Foreign Direct Investment (FDI) numbers were released by the central government. It turned out Maharashtra had mopped up 45% of the total FDI of ₹2.49 lakh crore attracted by the country in the first six months of the financial year (April to September 2024).

Fadnavis on Friday used his social media handle to announce that Maharashtra had attracted investments of ₹1.13 lakh crore, of a total ₹2.49 lakh crore that flowed into the country in the current fiscal. This was the highest for any state in India.
The chief minister has been claiming credit for attracting the highest FDI to Maharashtra during his government’s tenure. He targeted the previous Maha Vikas Aghadi (MVA) government under Uddhav Thackeray, for its failure to maintain the top position. Maharashtra had slipped to second position for a brief period in 2020-21. Fadnavis, who was deputy chief minister in the Mahayuti government from June 2022 to October 2024, had said, time and again, that the change in government had helped Maharashtra regain its top position in this regard.
In his post on social platform X on Friday, Fadnavis said that investments in the last six months were 94.71% of the annual average FDI for the last four years. The state has seen annual FDI ranging between ₹1.15 lakh crore to ₹1.25 lakh crore in the last four years. “The first six months (April to September) of the FY 2024-25 saw the FDI of ₹1,13,236 crore. It was 94.71% of the average FDI, which was 1.20 lakh crore for the last four years from 2020-21 to 2023-24,” he said.
During last year’s Lok Sabha and assembly elections, the opposition MVA had alleged that thanks to the policies of the Mahayuti government, the state was lagging in attracting investment. The opposition had claimed that big-ticket projects such as Vedanta Foxcon and Tata Airbus had shifted to Gujarat and other states from Maharashtra during the Mahayuti government.
Fadnavis sought to counter these allegations through his post on Friday.
He quoted data released by the Department for Promotion of Industry and Internal Trade (DPIIT). According to this, Maharashtra attracted 45.47% of the total FDI that flowed into the country in the first half of the fiscal. Gujarat was in second place, at 13.28% or ₹33,060 crore, while Karnataka came in third at 11.88% or ₹29,597 crore. The country has seen a total FDI of ₹2.49 lakh crore in the first half of the current fiscal.
Most of the investments came from the services sector (16%), and computer hardware and software sector (15%).
Maharashtra had attracted ₹1.18 lakh crore in 2022-23, against ₹1.25 lakh crore in 2023-24. The state continues to top the FDI list for the last five years, between October 2019 and September 2024. It has attracted FDI of ₹6.45 lakh crore, or 31.48% of the country’s FDI of ₹20.36 lakh crore, in the last five years. Karnataka is in second place, with 20.79%, and Gujarat in third, with 16.44%.
However, the opposition is critical of the Bharatiya Janata Party (BJP). Maharashtra Congress general secretary Sachin Sawant said, “Maharashtra has always been on top in FDI for years, and it never competed with Gujarat, the home state of Prime Minister Narendra Modi. Had the Modi government not shifted some key projects to Gujarat from Maharashtra, the FDI numbers would have been much higher. Still, the state government should clarify why its dream of making Maharashtra a $1trillion economy remains a distant dream.”

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