India’s Maharashtra gets $200 billion investment vows at Davos

Maharashtra, the home state of India’s financial capital Mumbai, signed investment pledges worth $200 billion at Davos, with a majority coming from foreign investors, the state chief minister said on Thursday.

“My pitch to investors is that there is very good investment climate” in the state, Devendra Fadnavis told Bloomberg News’s Menaka Doshi in an interview. “We have got huge investments from diverse sectors,” he said, adding that companies like Amazon.com Inc. and Microsoft Corp. are keen to build data centres in the state.

In a series of posts on X, Fadnavis announced pledges signed with Blackstone Inc., Reliance Industries Ltd., Jindal Steel Works Ltd. and Brookfield Corp. States often make investment vows at high-profile summits but only a handful get converted into functioning projects.

Home to the financial hub of Mumbai and most of India’s billionaires, Maharashtra is one of the nation’s most economically-productive states, contributing more than 10% to the gross domestic product. Prime Minister Narendra Modi’s Bharatiya Janata Party-led coalition won the local polls held last year.

Indian state leaders have collected at the World Economic Forum this week looking to attract more investment for a country hungry for growth. The contingent includes cabinet ministers and high-level representatives from six states.

In a separate interview on Thursday, the industries minister of the southern industrial state of Tamil Nadu said he was pitching for investments in autos, electric vehicles and electronics. With the election of US President Donald Trump, “there is more talk of fresher investments,” said T.R.B. Rajaa.

Andhra Pradesh Chief Minister N. Chandrababu Naidu also said his meetings with investors focused on green energy and artificial intelligence.