Foreign investments

Maharashtra’s foreign investment exceeds that of Gujarat under BJP rule: Ex-CM

Former Maharashtra Chief Minister Devendra Fadnavis claimed that foreign direct investment in Maharashtra was higher than in Gujarat under his party’s rule.

Speaking at an industry meeting, leader of the Bharatiya Janata Party (BJP) said that under his rule between 2105 and 2019, Maharashtra grabbed the top spot in FDI across India.

“Before 2014, Gujarat was leading in terms of attracting FDI followed by Delhi, Karnataka and some other states. Maharashtra was in fifth place. IDE between 2015 and 2019,” Fadnavis who was CM from 2014 to 2019,” said Maharashtra CM Fadnavis.

However, Fadnavis claimed that the foundations laid by his government to attract FDI were now shaky. “Between 2015 and 2019, there were two years when Maharashtra attracted 47% and 42% of the total FDI in the country. In these two years, we got more FDI than was received by Gujarat, Karnataka and Delhi combined,” Fadnavis claimed.

Citing a Deutsche Bank report, he said Maharashtra had achieved the feat as the BJP government under his leadership had created an enabling ecosystem. In 2019, 49% of all expensive projects in the country were located in Maharashtra, he cited.

The BJP and Shiv Sena ruled the state in an alliance from 2014 before the latter broke away and joined forces with Congress and the National Congress Party to form the government after assembly elections in 2019 .

According to the Ministry of Commerce and Industry, total FDI inflows into India stood at $74.10 billion in 2021, compared to $87.55 billion in 2020.

Among Indian states, Karnataka ranked first with the highest FDI equity inflow at $18,554.29, followed by Maharashtra at $12,226.15, Delhi at 7,647, $63, Tamil Nadu $3,023.33, Gujarat $2,709.81, among others for the financial year 2022.

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