Reliance Industries signs MoU to invest ₹3.05 lakh crore in Maharashtra

The Maharashtra government has signed 33 MoUs worth around ₹9,72,000 crore in the first two days of the WEF meeting

Mumbai: Reliance Industries Limited (RIL) on Wednesday announced it had signed a memorandum of understanding (MoU) to invest ₹3,05,000 crore in Maharashtra across sectors such as new energy, retail, hospitality, green power and high-tech manufacturing. The announcement was made on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland.

Davos [Switzerland], Jan 22 (ANI): Maharashtra Chief Minister Devendra Fadnavis during his visit to Davos to attend the World Economic Forum 2025, on Wednesday. (ANI Photo) (Devendra Fadnavis-X)

The Maharashtra government has signed 33 MoUs worth around ₹9,72,000 crore in the first two days of the WEF meeting. On Tuesday, the JSW Group conglomerate had signed an MoU worth ₹3,00,000 crore with the state government, with plans to invest the money across sectors in the Naxal insurgency-affected Gadchiroli district.

Chief minister Devendra Fadnavis remarked that the MoU with RIL, an oil-to-telecom-to-retail conglomerate, is a “groundbreaking moment” for the state. “They are willing to invest in sectors such as petrochemicals, polyester, renewable energy, green hydrogen, green chemicals, industrial area development, retail, data centres, telecommunication, hospitality and real estate, which is expected to create 300,000 job opportunities,” he said.

Anant Ambani, non-executive director of RIL, said that the company has always been deeply committed to the idea of a new India under the leadership of Prime Minister Narendra Modi. “As the largest business group in India, we spread across the country, furthering our commitment to build a great nation. In this regard, our ₹3,05,000 crore MoU is a step in that direction. We are inspired by the phenomenal leadership of chief minister Fadnavis, whom I have known personally for over 10 years,” he added.

Tata Group chairperson N Chandrasekaran also met with Fadnavis on Wednesday, before the conglomerate announced plans to invest ₹30,000 crore in Maharashtra across multiple sectors. Battery manufacturer Vardhaan Lithium, meanwhile, announced it had signed an MoU to invest ₹42,535 crore in the electronics sector in the state. Apart from this, the Maharashtra government also signed an MoU with edtech company Erulearning Solutions, which plans to invest ₹20,000 crore in the education sector.

Other companies that signed MoUs with Maharashtra on Wednesday included Powerin Urja India ( ₹15,299 crore), Open Origin India Inc ( ₹15,000 crore), Rural Enhancers ( ₹10,000 crore), Welspun World ( ₹8,500 crore), United Phosphorus ( ₹6,500 crore), Olectra EV ( ₹3,000 crore) and CEAT ( ₹500 crore), among others.

On Wednesday, Fadnavis also met with former UK Prime Minister Tony Blair and Finland’s minister for foreign trade and development, Ville Tavio.

Regarding his meeting with Blair, Fadnavis wrote on X, “We had an insightful discussion on public transport, energy transition, with Maharashtra at the forefront, set to source over 50% of its energy from renewables soon.”

Fadnavis and Tavio “explored the prospects of doing a Magnetic Maharashtra roadshow in Finland and discussed key investment opportunities in renewable energy, green hydrogen and the chemical and fertilizer sectors,” the chief minister posted on X.

Fadnavis also met Carlsberg Group chief executive Jacob Aarup Anderson and Lonza Group chief information officer Jerzy Janeczko on Wednesday. The chief minister revealed that Carlsberg is planning a major investment in the state with a new keg line.

The discussion with Swiss pharma major Lonza Group “highlighted a broad range of opportunities, enabling pharmaceutical, biotech, and nutrition companies to accelerate their treatments to market, while advancing technological innovations, world-class manufacturing, and cutting-edge solutions,” Fadnavis wrote on X.