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, July 13: Indian equity markets opened lower on Monday as crude oil prices rebounded to near the $80-per-barrel mark amid renewed geopolitical tensions.
Sensex began the session at 76,963.35, down over 600 points or 0.78 per cent, while Nifty started at 24,039.40, declining 167.50 points or 0.69 per cent.
Sector-wise, most indices traded in the red, led by Nifty Auto and Nifty Metal, which fell up to 1 per cent. Nifty Consumer Durables, Nifty PSU Bank and Nifty Private Bank also witnessed selling pressure, while Nifty IT and Nifty Pharma bucked the trend, gaining up to 0.6 per cent.
According to market experts, the back-and-forth developments in the West Asia crisis have become the new normal, creating uncertainty for energy importers such as India.
IndiGo, Tata Steel, Asian Paints, Shriram Finance, Bajaj Finance and HDFC Bank were among top losers.
“From the market perspective, particularly for India, the price of crude is the crucial factor. Brent is currently trading around $80. So long as Brent trades below $90, the market won’t be impacted significantly. But if Brent shoots above $90, there can be a significant correction in the market,” the experts said.
They added that sustained foreign institutional investor (FII) inflows are providing resilience to the domestic market, with investors shifting allocations towards India amid concentration risks in South Korea’s chip sector.
On Sunday, US forces used precision munitions to hit dozens of targets across multiple locations in Iran, according to the US Central Command.
In addition, Iran’s Revolutionary Guards claimed to have attacked US military bases in Kuwait and Bahrain.
Meanwhile, international oil benchmark Brent crude surged more than 4 per cent to trade around $80 per barrel, while US West Texas Intermediate (WTI) crude rose 4.55 per cent to $74.66 per barrel.
In Asian markets, major indices traded lower, with Japan’s Nikkei declining 1.6 per cent, Hong Kong’s Hang Seng falling 0.20 per cent and South Korea’s KOSPI slumping more than 6 per cent.
Mumbai, July 12: The combined market valuation of four of India’s 10 most-valued companies increased by Rs 92,995.48 crore during the last week, with HDFC Bank and Bharti Airtel emerging as the biggest gainers, even as the broader equity market ended lower.
During the week, the Sensex declined 194.52 points, or 0.25 per cent, while the Nifty slipped 63.95 points, or 0.26 per cent.
Among the country’s 10 most-valued companies, Reliance Industries, HDFC Bank, Bharti Airtel, and Life Insurance Corporation of India (LIC) registered gains in their market capitalisation.
In contrast, ICICI Bank, State Bank of India (SBI), Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro (L&T), and Hindustan Unilever together witnessed an erosion of Rs 49,294.13 crore in their market valuation.
HDFC Bank recorded the largest increase in market capitalisation during the week, with its valuation rising by Rs 35,808.09 crore to Rs 12,69,454.42 crore.
Bharti Airtel followed closely, adding Rs 34,896.92 crore to take its market valuation to Rs 11,98,774.22 crore.
LIC’s market capitalisation rose by Rs 16,065.5 crore to Rs 5,60,205.05 crore, while Reliance Industries added Rs 6,224.97 crore, taking its valuation to Rs 17,71,206.33 crore.
On the losing side, Hindustan Unilever registered the steepest decline, with its market capitalisation falling by Rs 12,088.65 crore to Rs 5,04,997.65 crore.
Larsen & Toubro’s valuation declined by Rs 11,040.23 crore to Rs 5,42,938.40 crore, while TCS lost Rs 8,574.87 crore in market value, ending the week at Rs 7,48,600.40 crore.
Bajaj Finance saw its market capitalisation shrink by Rs 7,813.58 crore to Rs 6,35,327.78 crore. ICICI Bank’s valuation slipped by Rs 6,315.32 crore to Rs 10,05,379.71 crore, while SBI’s market value declined by Rs 3,461.48 crore to Rs 9,56,430.44 crore.
Despite the mixed performance, Reliance Industries retained its position as India’s most-valued company by market capitalisation. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.
Business
Piyush Goyal to lead business delegation to Spain, Belgium and Finland to deepen trade, investment ties
New Delhi, July 12: Union Commerce and Industry Minister Piyush Goyal will lead a high-level Indian business delegation on a five-day visit to Spain, Belgium and Finland from July 13 to 17, as India seeks to deepen its economic engagement with Europe through enhanced cooperation in trade, investment, technology, innovation and sustainability, it was announced on Sunday.
The delegation will include leading Indian companies from sectors such as advanced manufacturing, clean energy, digital technologies, gems and jewellery, food processing, healthcare and design. The visit is aimed at expanding business-to-business partnerships and exploring new opportunities for collaboration with European industries, the Ministry of Commerce & Industry said.
The visit will begin in Spain on July 13, where Goyal will participate in a business roundtable jointly organised by the Chamber of Commerce of Spain, CEOE and ICEX Spain Trade & Investment. The discussions are expected to focus on sectors including automotive, renewable energy, railways, artificial intelligence, semiconductors, food processing and tourism.
The meeting will bring together industry leaders from both countries at a time when India and Spain are celebrating the Spain-India Dual Year 2026, marking 70 years of diplomatic relations. Several Spanish companies, including Iberdrola, Acciona, CAF, Talgo, Gestamp and Indra, have already established a strong presence in India, while Indian technology and engineering firms such as TCS, Infosys, Wipro, Tech Mahindra and Larsen & Toubro are expanding their operations in Spain to support digital transformation and Industry 4.0 initiatives.
In Belgium, where the delegation will travel on July 14 and 15, the minister will visit the Port of Antwerp to study Europe’s leading logistics hub and gain insights into multimodal connectivity, green logistics and resilient supply chains.
During the Belgium visit, Goyal will hold CEO-level meetings with senior executives of Thales Group and Silox Group.
The minister will also participate in the India-EU Business Roundtable and the Trade and Technology Council (TTC) Plenary, where discussions will cover foreign direct investment, trade facilitation, sustainable technologies and resilient supply chains.
The final leg of the tour will take the delegation to Finland on July 16 and 17. Goyal will participate in the India-Finland Business Roundtable, engaging with Finnish companies across digitalisation, clean energy, advanced manufacturing and the circular economy.
‘Manhole Rail Guard’ prototype developed to protect Mumbai manholes inspected by ritu Tawde, pilot testing to be done in ‘L’ ward
State-of-the-art emergency ward and emergency medical services complex inaugurated at Nair Hospital, Mayor Ritu Tawde and other dignitaries inspected the facility
Mumbai: Fake doctor arrested for cheating Rs 10 crore, used to provide medical services without a certificate, major action by Crime Branch
Ram Temple Trust invites applications for CEO post amid donation embezzlement row
Irresponsible to blame Iran while failing to hold aggressors accountable, says Tehran on UN stance
G7 Summit: PM Modi, Prez Trump discussed West Asia, India-US trade deal & bilateral cooperation across sectors: MEA
BJP’s patriotism, Hindutva a sham: Shiv Sena(UBT) in ‘Saamana’
Delhi Police bust ‘digital arrest’ cyber fraud syndicate, nab three from Bengal
Gold, silver trade lower amid weak global cues
UNGA convenes 5th interactive dialogue with candidate for next UN secretary-general
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