State attracts highest FDI in first quarter; Fadnavis credits Shinde

Maharashtra has secured the top position in Foreign Direct Investment (FDI) in the first quarter of the current financial year, attracting investments of ₹36,634 crore. The state had received ₹1,18,422 crore in FDI last year. Under the leadership of Chief Minister Eknath Shinde, Maharashtra has become the favorite destination for investors, according to Deputy Chief Minister Devendra Fadnavis. However, the government has faced criticism after some major projects were shifted to other states.

After securing the first position in Foreign Direct Investment (FDI) in 2022-23, Maharashtra has topped the chart in the first quarter of the current financial year, according to the figures released by the department for promotion of industry and internal trade (DPIIT).

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“Under the leadership of chief minister Eknath Shinde ji, our government is moving ahead at a fast pace and Maharashtra has become the favorite destination for investors!,” deputy chief minister Devendra Fadnavis tweeted along with the DPIIT statement.

During the April-June period, the state attracted investments of ₹36,634 crore followed by ₹15,358 crore by Delhi, ₹12,046 crore by Karnataka, and ₹6,829 crore by Telangana. Last financial year, the state had received ₹1,18,422 crore in FDI. It was ₹1,14,964 crore in 2021-22.

Speaking to reporters, Fadnavis said, “Until 2019, the state was on the top in the FDI chart, but it dipped in two years of the Uddhav Thackeray government. In 2021, Karnataka attracted the highest investment while in 2020, Gujarat secured the first place. Soon after we took over, the corrective measures were taken as promised by us. We have taken the state again to number one position.”

The Shinde government has faced flak after a few major projects. including Foxconn Vedanta, were shifted to other states.