Maharashtra got 31% of India's FDI in first six months; topped for 5 years: Fadnavis

The state has consistently recorded annual FDI figures ranging between ₹1.15 lakh crore and ₹1.25 lakh crore over the last four years

Mumbai: Maharashtra has emerged as the top destination for foreign direct investment (FDI) in India during the first half of the 2024-25 fiscal year, attracting ₹1.13 lakh crore, according to data shared by Devendra Fadnavis, the chief minister of the state. The figure represents 31.48% of the total FDI inflow into the country during this period, surpassing all other states.

CM Devendra Fadnavis. (HT PHOTO)

In a post on X, Fadnavis highlighted the state’s performance, noting that the FDI received in the six months from April to September accounted for 94.71% of the annual average FDI seen over the past four years. “The first six months (April to September) of FY 2024-25 saw FDI of ₹1,13,236 crore. This was 94.71% of the average FDI, which was ₹1.20 lakh crore for the last four years from 2020-21 to 2023-24,” Fadnavis wrote.

The state has consistently recorded annual FDI figures ranging between ₹1.15 lakh crore and ₹1.25 lakh crore over the last four years. Maharashtra attracted ₹1.18 lakh crore in FDI during 2022-23 and ₹1.25 lakh crore in 2023-24.

Fadnavis’s remarks appear to counter criticism from the opposition Maha Vikas Aghadi (MVA), which accused the ruling coalition of failing to attract investments. During last year’s Lok Sabha and assembly elections, the opposition claimed Maharashtra was lagging behind other states due to state government policies.

Between October 2019 and September 2024, Maharashtra attracted ₹6,45,664 crore in FDI, representing 31.48% of the national total. Karnataka and Gujarat ranked second and third, with shares of 20.79% and 16.44%, respectively.

Despite the positive numbers, opposition leaders remained critical. Sachin Sawant, general secretary of the Maharashtra Congress, alleged that the central government’s policies favoured Gujarat, Prime Minister Narendra Modi’s home state.

“Maharashtra has always led in FDI and never competed with Gujarat,” Sawant said. “Had the Modi government not shifted key projects from Maharashtra to Gujarat, the FDI achievement would have been even greater. The state government must also explain why its ambition of making Maharashtra a $1 trillion economy remains a distant dream.”

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