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Maha govt signs 31 MoUs for investment proposals worth Rs 6,25,457 crore at Davos

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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.

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G7 Summit: PM Modi, Prez Trump discussed West Asia, India-US trade deal & bilateral cooperation across sectors: MEA

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48 minutes ago

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June 18, 2026

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Evian (France), June 18: The Ministry of External Affairs (MEA) said on Thursday in an official statement that Prime Minister Modi met the US President Donald Trump on the sidelines of the G7 Summit in France’s Evian and discussed end of West Asia conflict, significant progress in the India-US interim trade deal and bilateral cooperation in terms of defence, strategic technologies, energy, and trade sectors between the two countries.

Prime Minister Modi commended President Trump for his efforts that had resulted in an understanding to end the ongoing conflict in West Asia and restore peace and stability across the broader region, the MEA statement said.

The Prime Minister also underlined the importance of maintaining freedom of navigation and unimpeded commerce in the Strait of Hormuz and the need to ensure the safety of seafarer, the MEA statement added.

Taking to his official social media plaform X, PM Modi said: “Pleased to meet President Trump in Evian. We reviewed the sustained progress in our bilateral cooperation in trade, energy, defence, technology and people-to-people ties. Conveyed India’s appreciation on the progress in the efforts for restoring peace and stability in West Asia. Keeping the Strait of Hormuz open is vital for the global economy. Reiterated the importance of ensuring the safety and security of civilians, including seafarers.”

“Both PM Modi and President Trump reviewed the substantial progress achieved under the India–US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce and Technology) since their meeting in Washington D.C. in February 2025,” the MEA said in the statement.

The two leaders welcomed key developments across the defence, strategic technologies, energy, and bilateral trade sectors, the MEA statement added.

“The leaders noted with particular satisfaction the significant progress made in negotiations towards an interim Bilateral Trade Agreement and instructed their officials to work towards a “balanced, mutually beneficial, and commercially meaningful agreement at the earliest”. The US Trade Representative Jamieson Greer, will be visiting India next week in this connection.”

“Prime Minister Modi and President Trump reaffirmed their commitment to further strengthening the India-US Comprehensive Global Strategic Partnership and advancing cooperation across all domains for the mutual benefit of the two countries and their people,” the MEA added.

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Indian markets trade flat in early deals amid mixed global cues

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2 hours ago

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June 18, 2026

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Mumbai, June 18: Indian equity markets traded flat on Thursday in morning trade amid mixed global cues as investors and traders assessed indications that the US Federal Reserve may still raise borrowing costs later this year, despite the benefits of lower oil prices and the Fed’s decision to keep rates unchanged.

Sensex was trading at 77,095.99, down 59 points or 0.08 per cent in early trade, while Nifty was at 24,076.95, down 8.75 points or 0.04 per cent.

Sector-wise, IT stocks remained under pressure, with Nifty IT declining 1.70 per cent. In contrast, Nifty Consumer Durables and Nifty FMCG rose 0.31 per cent each, while Nifty Metal advanced 0.25 per cent and Nifty Chemicals gained 0.21 per cent.

From the Nifty pack, Infosys, HCLTech, Tata Consultancy Services (TCS), Tech Mahindra, Wipro, Bajaj Finance and Bajaj Finserv were the top losers.

Moreover, the US Federal Reserve left interest rates unchanged, while indicating that further rate hikes remain possible this year as inflation continues to stay above its 2 per cent target.

According to market experts, Indian markets will not be unduly influenced by developments on the Fed rate front.

“In the near term, the market will remain resilient, supported by the crash in Brent crude to around $78 levels. The rupee is stable at around the 94.52 level,” they said.

Analysts stated that FII selling has tapered off, as expected, and that FIIs turned buyers yesterday, though in limited quantities. Brent crude prices at around $78 levels and stability in the rupee are big positives from the market perspective. Bank Nifty will remain strong with an upward bias.

Meanwhile, international oil benchmark Brent crude declined 1.64 per cent to $78.24 per barrel, while US West Texas Intermediate (WTI) crude slumped 2 per cent to $75 per barrel.

In Asian markets, indices showed a mixed trend. Japan’s Nikkei traded over 1 per cent higher, while Hong Kong’s Hang Seng was trading around 2 per cent lower. South Korea’s KOSPI was up more than 1 per cent, while Indonesia’s Jakarta Composite and China’s Shanghai Composite declined by up to 1 per cent.

Overnight in the US, Wall Street ended lower, with the S&P 500 decreasing 1.21 per cent and the Nasdaq closing 1.34 per cent down.

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Sensex, Nifty trade flat as crude oil declines, monsoon remains in focus

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1 day ago

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June 17, 2026

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Mumbai, June 17: Domestic equity benchmarks traded flat in morning session on Wednesday after a three-day rally driven by lower crude oil prices and optimism over a US-Iran peace deal.

Sensex was trading at 76,817.58, up 8.58 points or 0.01 per cent, while Nifty was at 23,988, down 1 point in early trade.

Earlier in the day, the 30-share index opened higher, rising 284.69 points or 0.37 per cent to hit an intraday high of 77,093.17. The 50-script basket began the day at 24,044.50, up 58.89 points or 0.24 per cent.

On the sectoral front, Nifty Consumer Durables was the top performer, gaining 1.26 per cent, followed by Nifty IT and Nifty Media.

In addition, healthcare and pharma stocks remained in demand, with Nifty Pharma advancing 0.24 per cent and Nifty Healthcare rising 0.18 per cent.

In contrast, selling pressure was visible in metal and realty stocks. Nifty Metal fell 0.87 per cent, while Nifty Realty declined 0.68 per cent. Nifty Auto, Private Bank and PSU Bank indices also traded in the red.

Among the Nifty 50 constituents, Hindalco Industries, NTPC, Trent, ONGC, Bharti Airtel, Dr Reddy’s Laboratories and Axis Bank were among the top losers.

According to market experts, two factors are likely to influence market trends in the near term — one positive and the other negative.

“The positive factor is the steady and sharp decline in crude oil prices. Brent crude has fallen by around 16 per cent over the last five days to about $79 per barrel, easing concerns over a widening balance of payments deficit in India,” they said.

The negative factor is the deficient monsoon, which is raising concerns about food inflation. However, experts noted that monsoon activity could improve in the coming days, as has happened in the past, easing such concerns.

The positive trend is likely to continue as the rupee has been steadily strengthening and could appreciate further, experts added.

On the commodities front, international benchmark Brent crude declined 0.72 per cent to $78.39 per barrel, while US West Texas Intermediate (WTI) crude decreased almost 1 per cent to $75.35.

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