Record FDI and promise of 40 lakh jobs top Maharashtra’s growth pitch in Governor’s address

Mumbai: Riding on record foreign direct investment (FDI) inflows and a promise of 40 lakh new jobs, Maharashtra on Monday projected itself as India's top investment destination, as Governor Acharya Devavrat outlined an ambitious growth roadmap in his joint address to the state legislature.The Governor said Maharashtra received the highest FDI in the country in 2024-25 at Rs 1,64,875 crore, accounting for 39% of India's total inflows. In the first half of 2025-26 alone, the state attracted FDI worth Rs 91,337 crore, reinforcing its position as the country's industrial powerhouse contributing over 13.5% to the national GDP.
At the World Economic Forum meeting in Davos in January 2026, the state government signed MoUs worth around Rs 30 lakh crore with companies from 18 countries. The proposed investments are expected to generate 40 lakh jobs across sectors, giving a major push to employment and industrial expansion. Laying out a long-term blueprint, the Governor said the government has prepared a comprehensive roadmap for "Viksit Maharashtra – 2047", with the aim of transforming the state into a $5 trillion economy by 2047. A Vision Management Unit has been set up to steer the strategy and monitor outcomes.To further accelerate industrial growth, the government has unveiled the "Maharashtra Industry, Investment and Services Policy-2025" for 2026-2030, targeting investments of Rs 70.5 lakh crore and the creation of 50 lakh direct jobs. Sector-specific policies — including the Bamboo Industry Policy-2025, Gems and Jewellery Policy-2025, Animation, Visual Effects, Gaming, Comics and Extended Reality Policy-2025, and Global Capability Center Policy-2025 — have also been announced to diversify the state's industrial base.The Governor said Gadchiroli district is being developed as a steel hub, while eastern Vidarbha is envisioned as a steel corridor. To bring transparency in industrial land allotment, the government has launched the MIDC Industrial Land Application and Allotment Portal (MILAAP).Under the new "Maharashtra Startup, Entrepreneurship and Innovation Policy 2025", the state aims to nurture 1.25 lakh entrepreneurs and support 50,000 start-ups over the next five years, positioning Maharashtra as a global innovation hub.In a boost to its export credentials, Maharashtra secured the top rank in the Export Preparedness Index-2024 released by NITI Aayog in January 2026.On infrastructure financing, the government has approved the establishment of ‘Maha InvIT' (Infrastructure Investment Trust), allowing selected projects of MSRDC and MSIDC to be transferred to the trust to raise funds from private and public investors. The move is expected to reduce the state's debt burden while ensuring steady investment in new infrastructure. The Governor said 147 major road improvement projects worth Rs 4,478 crore covering 1,100 km have been sanctioned in 2025-26. The government has also approved extension of the Mumbai-Nagpur Samruddhi Expressway to the proposed Vadhvan Port in Palghar district and to eastern Vidarbha to strengthen industrial connectivity.During "India Maritime Week–2025", organised by the Union ministry of ports, shipping and waterways in Mumbai, the state signed MoUs worth Rs 56,000 crore to boost investments and employment in port development and shipbuilding.Beyond industry and infrastructure, the address outlined a series of welfare and social sector initiatives. The government has decided to provide financial assistance of Rs 1.5 lakh for marriages between a person with disability and a person without disability, and Rs 2.5 lakh for marriages between two persons with disabilities, to promote social inclusion and eliminate discrimination.Under a Corpus Fund Scheme created with the State Health Assurance Society, nine types of rare organ transplant surgeries costing more than Rs 5 lakh will be conducted free of cost in authorised government and private hospitals. A Comprehensive Cancer Care Policy is also being implemented through a three-tier system to strengthen affordable oncology treatment and research across the state.The Governor said the government is prioritising skill development, with the Ratan Tata Maharashtra State Skills University expanding its footprint in Navi Mumbai, Pune, Nagpur and Thane, offering advanced courses in AI, data science, cyber security, mechatronics, industrial design and healthcare. Highlighting environmental initiatives, he said the "Green Maharashtra, Prosperous Maharashtra" campaign launched in 2025 aims to plant 10 crore trees across the state. So far, nearly 9.88 crore saplings have been planted under the drive. Under the ‘UMED' mission, 6.6 lakh women's self-help groups have been formed and Rs 44,251 crore in bank credit extended to over 64 lakh families, resulting in the creation of over 26 lakh ‘Lakhpati Didis'. To ensure market access, ‘Umed Malls' will be established in all districts, with approval granted for 13 districts in the first phase.In the agriculture and energy sectors, the government is implementing the "Mukhyamantri Baliraja Mofat Veej Yojana", providing free electricity to farmers with agricultural pumps up to 7.5 HP. A tariff concession of Rs 25,087 crore has been extended to more than 44 lakh farmers.The state has installed 6,63,324 solar agricultural pumps under PM Kusum-B and the Magel Tyala Saur Pump Scheme. Between October 27 and November 25, 2025, 45,911 solar pumps were installed, earning recognition from Guinness World Records.Stamp duty and registration fees for land lease agreements for solar projects have been exempted under Mission 2025 Daytime Power Supply to Agriculture – Mukhyamantri Saur Krushi Vahini Yojana 2.0. Additionally, the "Swayampurna Maharashtra Residential Rooftop Solar Scheme" has been launched to support economically weaker and below poverty line households consuming less than 100 units per month, enabling them to generate their own power.With record investments, expanded welfare measures and a thrust on green energy and rural empowerment, the government signalled its intent to combine economic growth with social inclusion and sustainability.