Business
Maha govt signs 31 MoUs for investment proposals worth Rs 6,25,457 crore at Davos
Mumbai, Jan 22: The Maharashtra government has signed a record 31 MoUs with investment proposals worth Rs 6,25,457 crore in the field of steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries and Solar Modules on the sidelines of World Economic Forum summit at Davos.
The MoUs were signed on Tuesday in the presence of Chief Minister Devendra Fadnavis and senior government officers.
CM Fadnavis said, “The MoU signed today paves the way for Maharashtra’s comprehensive growth and development.” He further stated that this marks a new record for securing such a significant investment amount in a single day. Similarly, several investment agreements are expected on the second day as well.
Of the Rs 6,25,457 crore, JSW will invest a record Rs 3 lakh crore for Maharashtra’s Green Transformation and Tata Group will also make an investment of Rs 30,000 crore in multiple sectors.
The Chief Minister met with key executives of several companies and invited them to invest in Maharashtra. Among these, Tata Group Chairman N. Chandrasekaran held discussions with CM Fadnavis during which it was confirmed that the Group would invest Rs 30,000 crore in the state. The CM also met Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra.
The Chief Minister assured him of full cooperation for the group’s plans. Additionally, M.A. Yusuff Ali, Managing Director of the Lulu Group, conveyed interest in investing in Nagpur and expanding operations in Maharashtra.
CM Fadnavis held discussions with ReNew Power Chairman and CEO Sumant Sinha about a 15,000 MW pipeline and wind energy projects in the Beed district. Schneider Electric India’s Managing Director and CEO Deepak Sharma also met the Chief Minister. Discussions included the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Expansion plans in Ahilyanagar and Nashik were also hinted at. Mastercard APAC President Ling Hai held talks with CM Fadnavis, while Louis Dreyfus Company CEO Michael Gelchie discussed opportunities in agriculture, food processing, international shipping, and financial sectors. Emphasis was placed on enhancing collaboration in agriculture. The CM also met Cognizant CEO Ravi Kumar S. and discussed potential investments and opportunities.
“The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development,” said the Chief Minister’s Office in a release.
CM Fadnavis in his post on X said, “Extremely happy to witness the historic Rs 3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra’s industrial environment. It will give a big boost to Maharashtra’s industrial environment. The areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission ‘Green Maharashtra.”
The government signed an MoU with Waaree Energy with a total investment of Rs 30,000 crore in green energy and solar components. it will create 7,500 jobs. The company chairman Hitesh Joshi was present.
The government inked an MoU with Blackstone-Panchshil Realty for an investment of Rs 25,000 crore for the development of the data centre. It will generate 500 jobs. Further, Blackstone will invest Rs 25,000 crore in Information Technology in the Mumbai Metropolitan Region. It will create 1,000 jobs.
The government inked an MoU with Erulearning Solutions for an investment worth Rs 20,000 crore in education. The government signed an MoU with ZR2 Group for investment worth Rs 17,500 crore in automobiles and EVs in Pune region to generate 4,000 jobs.
The state government and Balasore Alloys Ltd signed an MoU for investment of Rs 17,000 crore in steel and metals. The venture will generate 3,200 jobs. The company was represented by Satish Kaushik at the time of the signing of the MoU.
The state government and Reliance Infrastructure Ltd signed an MoU for investment worth Rs 16,500 crore in the defence sector. It will generate 2,450 jobs. The company was represented by Sateesh Seth.
Powerin Urjaa will invest Rs 15,299 crore in green energy and generate 4,000 jobs. Open Origin India Inc will invest Rs 15,000 crore in green energy to create 1,000 jobs.
Viraj Profiles Pvt Ltd and the state government inked an MoU for the investment of Rs 12,000 crore in steel and metals to generate 3,500 jobs. Neeraj Raja Kochhar, Chairman and MD of Viraj Profiles was present at the time of the signing of the MoU.
Avani Power Batteries will make investment of Rs 10,521 crore in electronics to generate 5,000 jobs in Chhatrapati Sambhajinagar. H2e Power will invest 10,750 crore in green energy to create 1,850 jobs in Pune region.
The government signed an MoU with Rural Enhancers for investment worth Rs 10,000 crore in social sectors including hospitals.
The government inked an MoU with Welspun for an investment worth Rs 8,500 crore in logistics to generate 17,300 jobs.
Essar in partnership with Blue Energy will invest Rs 8,000 crore in green energy to create 2,000 jobs.
Further, United Phosphorus will make an investment of Rs 6,500 crore in green energy to generate 3,000 jobs. The government signed an MoU with Olectra EV for investment worth Rs 3,000 crore in automotive and EV to generate 3,000 jobs.
Kalyani Group will invest Rs 5,250 crore in defence, steel and EV. It will create 4,000 jobs. The MoU was signed in the presence of CM Fadnavis and Vice-Chairman & Joint MD of Bharat Forge Limited Amit Kalyani. “Thank you Amit Kalyani for joining this MoU signing at Davos! This investment is special because it is coming to Gadchiroli, which will give better lives to so many,” said the chief minister.
Gensol will invest Ra 4,000 crore in electronics in Chhatrapati Sambhajinagar to create 500 jobs. The government inked an MoU with & El Mont for the investment of Rs 2,000 crore in infrastructure. It will generate 5,000 jobs. The company director Kabir Bhandari was present.
BookMyShow will invest Rs 1,700 crore in the entertainment sector to generate 500 jobs. Further, the government signed an MoU with Tembo for an investment worth Rs 1,000 crore in the defence sector. It will create 300 jobs. The company director Shabbir Merchant was present on the occasion.
The government also inked an MoU with AB InBev in the F&B segment for investment worth Rs 750 crore. Kartikeya Sharma, President, India & South East Asia of AB InBev was present on the occasion.
Moreover, the government inked an MoU with CEAT Limited for investment worth Rs 500 crore in automotive and EC to generate 500 jobs.
Bisleri International will invest Rs 250 crore in food and beverages in the Mumbai Metropolitan Region to create 600 jobs. The MoU signed paves the way for Maharashtra’s comprehensive growth and development.
New Delhi, Aug 24: The annual transaction volume of Unified Payments Interface (UPI) has surged almost 13,000-fold from 1.78 crore transactions in FY 2016-17 to more than 24,162 crore transactions in FY 2025-26, the Ministry of Finance said on Monday.
UPI, launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), has emerged as the backbone of India’s digital payments ecosystem and a key driver of financial inclusion.
According to the ministry, the value of UPI transactions has also expanded sharply, rising from Rs 0.07 lakh crore in FY 2016-17 to approximately Rs 314 lakh crore in FY 2025-26, representing a more than 4,000-fold increase over the decade.
The platform has become a major pillar of India’s Digital Public Infrastructure, offering an interoperable and real-time payments system that enables seamless person-to-person and person-to-merchant transactions.
The ministry said UPI’s scale, reliability and interoperability have received global recognition, with the International Monetary Fund acknowledging it as the world’s largest real-time payment system by transaction volume. As of 2025, UPI accounted for nearly 49 per cent of global real-time payment transaction volume.
The growth momentum has accelerated further in 2026. Monthly UPI transaction volume crossed the 2,300 crore mark for the first time in May, when 2,320 crore transactions were recorded. The platform subsequently touched a record 2,366 crore transactions in July, the highest monthly volume in its decade-long journey.
Institutional participation has also expanded significantly. The number of banks live on UPI increased from 44 in FY 2016-17 to 703 by FY 2025-26, covering public sector banks, private banks, small finance banks, payment banks and cooperative banks.
The ministry said UPI has witnessed particularly strong adoption in merchant payments. Person-to-merchant transactions accounted for 63 per cent of total transaction volume, while person-to-person transactions contributed 71 per cent of the overall transaction value.
The data also highlights the widespread use of UPI for small-value everyday payments. Around 86 per cent of P2M transactions in FY2026 were below Rs 500, while 59 per cent of P2P transactions were also below Rs 500.
Chennai, Aug 24: Tamil Nadu Chief Minister C. Joseph Vijay on Monday announced that the state government would abandon the proposed greenfield airport project at Parandur and identify an alternative site that would cause minimal disruption to farmers and residents.
Making a statement in the Legislative Assembly, CM Vijay said the decision was taken following concerns about the project’s potential impact on agricultural lands, waterbodies and residential settlements in Parandur and surrounding villages.
The Chief Minister acknowledged that Chennai required a second airport because of the rapid expansion of the metropolitan region, rising passenger traffic and increasing demand for cargo transportation. However, he said such a major infrastructure project should not come at the cost of farmers’ livelihoods or result in the large-scale displacement of residents.
The existing Chennai airport at Meenambakkam, operated by the Airports Authority of India, can currently handle about 30 million passengers annually.
CM Vijay accused the previous government of attempting to proceed with the Parandur project despite sustained opposition from residents. He recalled visiting Ekanapuram and nearby villages on January 20, 2025, to meet people protesting against the acquisition of their land for the airport. The Chief Minister said he had publicly opposed the project during a meeting at Vikravandi in October 2024.
While reiterating his government’s support for industrial growth and improved aviation infrastructure, he maintained that Parandur was unsuitable for the airport.
CM Vijay said the government arrived at its decision after consulting senior officials, aviation specialists, academicians and other experts. Technical feasibility studies will now be conducted at alternative locations before the new airport site is finalised.
“As promised, the measures initiated to establish the new airport at Parandur will be abandoned by this government,” he told the Assembly.
Meanwhile, the state government will work with the Airports Authority of India to expand the Meenambakkam airport.
A new Terminal 5 has been proposed in the airport’s northwestern section, along with additional roads and flyovers to improve connectivity. The ongoing construction of Terminal 3 is expected to increase the airport’s annual passenger-handling capacity to 35 million. Terminal 5, once operational, could add another 20 million passengers, taking the overall capacity to 55 million annually.
CM Vijay said the expansion would help Chennai manage its growing aviation requirements until the proposed second airport becomes operational at a suitable alternative location.
New Delhi, Aug 24: New SIM card rules came into effect in India from Monday, and telecom companies have been instructed to stop issuing mobile connections to people who have already reached the permitted limit.
The Department of Telecommunications (DoT) has directed telecom operators to identify customers who already hold the maximum number of SIM cards allowed in their name and inform them that a new connection cannot be issued.
Initially, the system will operate on a post‑facto basis, wherein operators can carry out the verification after a new connection has been enrolled and immediately suspend any connection that exceeds the limit.
However, telecom companies have been directed to move to real‑time checks by November 30, 2026.
“Till the time such measures are implemented by a telecom service provider on a post-facto basis, as per terms and conditions of the Customer Application Form (CAF), any mobile connection activated beyond the prescribed limit for a day shall be immediately suspended till resolution of the issue in respect of crossing the permitted limit for mobile connections,” the circular stated.
Under the new rules, an individual can have a maximum of nine mobile connections in their name across telecom operators and licensed service areas in India. However, the limit is lower for customers in Jammu and Kashmir, Assam and the North-East, where they have up to six mobile connections.
DoT will make representative images of subscribers who have reached the maximum limit available on the Digital Intelligence Platform (DIP) from August 23, 2026. Telecom operators must download these images daily to help identify applicants seeking additional SIMs.
The directions also require customers to provide a declaration in the Customer Application Form (CAF) regarding the mobile connections already held in their name across telecom operators and licensed service areas. DoT said the respective Licensed Service Areas (LSAs) will be the competent authorities to decide issues arising from the implementation of the instructions.
FIR registered in Ganpati idol desecration case, situation under control in Mazgaon; DCP Jayant Meena targeted by Hindu organizations
PM Package Kashmiri Pandit employees working in Valley seek enhanced security in view of ‘fresh threats’
Ganesh procession clash triggers tension in Mumbai Mazgaon; NDA leaders demand strict action
Under PM Modi’s vision of safe, secure India, our agencies secured deportation of 51 hardened criminals in 2026 alone: Home Ministry
20 injured as tractor-trolley carrying Kanwar pilgrims falls off bridge in MP’s Dhar
India, Brazil sign ICT MoU to deepen digital, telecom cooperation
Sensex ends flat, Nifty gains marginally as oil surge, US-Iran tensions weigh
Death toll from Japan’s Kumamoto earthquake rises to 38
Make ‘Har Ghar Tiranga’ people’s movement again: PM Modi
77 pc Indian companies see AI reshaping workspaces: Report
-
Crime4 years agoClass 10 student jumps to death in Jaipur
-
Maharashtra2 years agoMumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra2 years agoMumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra2 years agoFalse photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News2 years agoMinistry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Maharashtra2 years agoMaharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News2 years agoJ&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface
-
Crime2 years agoBaba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report