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Home / Mumbai News / ‘At ₹11,229 cr, Maha stands second in fresh investments’

‘At ₹11,229 cr, Maha stands second in fresh investments’

mumbai Updated: Jul 15, 2020 00:37 IST

During the three months of nationwide lockdown, Maharashtra gained fresh investment worth ₹11,229 crore, making it second among the top 10 states in the country to invite fresh investment, a report released in July reveals. Tamil Nadu, which recently signed 17 memorandums of understanding (MoUs) in May 2020, ranked first in the list.

According to the report released by Projects Today, a project monitoring organisation based in Mumbai, 1,241 new projects were announced between April and June in the country, with an investment of ₹97,859 crore. “During the similar period a year ago, the country had seen announcement of 2,500 new projects worth ₹3,86,673 crore,” the report states.

In June, under Magnetic Maharashtra 2.0, the state signed 12 MoUs with companies from Singapore, South Korea and the United States of America. Maharashtra is followed by Uttar Pradesh, which announced 167 new projects and an investment of ₹8,867 crore. Other states in the top 10 include Jammu and Kashmir, Jharkhand, Telangana, Gujarat, Odisha, Andhra Pradesh and Manipur.

Shashikant Hegde of Projects Today said, “Though most of the new projects announced are of the Central and state governments, there are a few private projects also, which is a positive sign considering the country was under lockdown since March 2020.”

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