News Brief
Kuldeep Negi
Sep 06, 2024, 12:09 PM | Updated 12:09 PM IST
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Maharashtra has emerged as the top foreign direct investment (FDI) destination in India, receiving over Rs 70,000 crore FDI in the first quarter of the Financial Year 2024-25, state Deputy Chief Minister Devendra Fadnavis announced on Friday (6 September).
"Maharashtra, which has been number one in attracting foreign investment for the last two years, has also received the highest investment in the first quarter of the financial year 2024-2025. A total of Rs 70,795 crore has been invested in the first quarter from April to June 2024," Fadnavis said in a post on X.
The total investment in the country during the Q1 FY25 amounts to Rs 1,34,959 crore, of which Rs 70,795 crore or 52.46 percent was received by Maharashtra alone.
Maharashtra's foreign investment figures are higher than the combined total of several other states.
Karnataka, which ranked second, received Rs 19,059 crore, followed by Delhi with Rs 10,788 crore. Telangana secured fourth place with Rs 9,023 crore, while Gujarat rounded out the top five with Rs 8,508 crore.
"During our tenure from 2014 to 2019, Maharashtra received a total of Rs 3,62,161 crore in foreign investments. On day one, we boldly stated that we would achieve in two-and-a-half years what others did in five. Now, in just over two years, we have already brought in Rs 3,14,318 crore in investments," Fadnavis said.
Maharashtra has maintained its top position in attracting foreign investment over the past two years.
In the 2022-2023 financial year, the state secured Rs 1,18,422 crore in foreign investments. The following year, in 2023-2024, Maharashtra attracted Rs 1,25,101 crore in FDI.
Kuldeep is Senior Editor (Newsroom) at Swarajya. He tweets at @kaydnegi.