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.
Mumbai, Dec 2: Indian stock markets opened with a sharp gap-down on Tuesday but soon recovered some losses as investors continued to book profits after the recent rally.
The Sensex was trading at around 85,508, down 134 points or 0.16 per cent, while the Nifty slipped 31 points or 0.12 per cent to 26,145.
“The Nifty’s positional trend remains bullish, with strong support at the 26000-26050 zone. On the higher side, 26300 could offer resistance on a closing basis,” market watchers added.
Heavyweights such as HDFC Bank, ICICI Bank, Ultratech Cement, Axis Bank, Bajaj Finserv, Tata Steel, Tata Motors PV, Titan Company and Power Grid dragged the indices lower.
Eternal also remained under pressure during the early trade.
However, selective buying in stocks like Asian Paints, Infosys, Bharti Airtel, Bajaj Finance, SBI, Maruti Suzuki, NTPC, HUL, and L&T helped the Sensex limit its losses and attempt a mild recovery.
In the broader market space, the Nifty MidCap index edged up 0.27 per cent, indicating some buying interest in mid-sized companies. On the other hand, the Nifty SmallCap index slipped 0.12 per cent.
Sector-wise, financial stocks were among the worst performers, with the Nifty Financial Services index falling 0.7 per cent and the Nifty Bank index dropping 0.4 per cent.
Meanwhile, the Nifty PSU Bank index gained 0.9 per cent, emerging as the top performer, followed by the Nifty Auto index, which rose 0.4 per cent.
Analysts said that markets remained volatile as traders continued to take profits amid mixed global cues.
“Investors can use the current period of consolidation to slowly accumulate fairly-valued largecaps and growth-oriented midcaps which will lead the next leg of rally in the market,” analysts stated.
The Smallcap segment continues to be over-valued. The Bank Nifty, despite the recent run up, have the potential to impart resilience to the market since there is valuation comfort in this segment. The pick up in credit growth is another positive for the segment.
New Delhi, Dec 1: Gross enrolment under the Atal Pension Yojana (APY), a bid to create a universal social security system for all, especially the poor, the under-privileged and the workers in the unorganised sector, has reached 8,34,13,738 (as on October 31), the Parliament was informed on Monday.
APY was launched in 2015 with the objective of creating a universal social security system for all Indians. It is open to all citizens of India between 18 and 40 years of age who have a savings account in a bank or post office.
As per the Scheme, the subscriber will receive pension benefits on attaining the age of 60 years.
“Hence, the pension benefit under APY is expected to start from 2035 onwards. However, the gross enrolment under Atal Pension Yojana as on 31.10.2025 is 8,34,13,738,” Finance Minister Nirmala Sitharaman told the Lok Sabha in a written reply to a question.
As on October 31, the female gross enrolment under APY is 4,04,41,135, which is 48 per cent of the total enrolment, she noted.
Further, in Bihar, the female gross enrolment under APY is 42,07,233, which is 57 per cent of the total enrolment in the state.
“As on 31.10.2025, a total of 7,153 Bank branches and 461 Post Office branches are enrolling people into APY in Bihar,” the Finance Minister stated.
The government and the Pension Fund Regulatory and Development Authority (PFRDA) have taken several steps to increase awareness and coverage of APY across the country, including rural and remote areas of Bihar.
These include periodic advertisements; APY Subscribers Information Brochure in 13 vernacular languages; and virtual capacity building programmes for Banking Correspondents (BCs) and field staff of Banks, Self Help Group (SHG) members, and bank-sakhis of State Rural Livelihoods Missions (SRLMs).
During the last five years, such programmes have been conducted across various districts of Bihar, including in Muzaffarpur, Patna, Bhojpur, and Nalanda.
Recently, financial inclusion campaigns for pension saturation were organised pan-India India including 8,093 such campaigns in Bihar, said Sitharaman.
New Delhi, Dec 1: Since inflation is set to remain well below target for the foreseeable future, HSBC Global Investment Research on Monday projected that the RBI will cut rates by 25 bp during its monetary policy committee (MPC) meeting on December 5 — taking the policy repo rate to 5.25 per cent.
Growth has been strong so far, benefitting from the front loading of government spending and GST-cut led retail spending.
However, the November Flash manufacturing PMI (56.6) indicated that GST-led boost may have peaked with the overall new orders coming in soft, said the report.
“Growth is strong for now, but could soften in the March 2026 quarter as the fiscal impulse becomes contractionary and exports slow. We expect the RBI to ease policy rates in the upcoming December policy meeting,” the report mentioned.
The July-September quarter GDP growth came in at 8.2 per cent YoY, higher than 7.8 per cent in the previous quarter and higher than “our above-consensus forecast of 7.5 per cent”. While GVA growth came in at 8.1 per cent, nominal GDP grew 8.7 per cent.
The GDP momentum was clearly higher than our above-consensus forecast. There are some good reasons for the strength, said the report.
One, GST rate cuts were implemented on the September 22, but the announcement was made on August 15.
“We think that production picked up in anticipation of a rise in consumer demand. Two, our recent work indicates that lower income states are starting to rise, even growing faster than the higher income states,” the HSBC report mentioned.
This, too, could possibly explain the strength in India’s growth momentum. After all, national GDP is the sum of state Gross State Domestic Products (GSDP).
According to the report, India’s growth has held up decently despite the 50 per cent reciprocal tariff on India’s exports by the US since August.
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