Governor Radhakrishnan Says Maharashtra Is Country’s Top FDI Destination

Mumbai: The Maharashtra legislature’s budget session began on Monday with Governor C.P. Radhakrishnan’s address to the joint session of the Maharashtra State Legislature at Vidhan Bhavan. The governor said the state is a preferred destination for foreign direct investment (FDI) and contributes more than 14 per cent to the country’s gross domestic product (GDP). He announced the state government will undertake the Nagpur-Goa Shaktipeeth expressway, the 802-kilometre greenfield project, at an estimated cost of Rs 86,300 crore. The project is facing opposition from farmers, particularly in the Kolhapur district.

Speaking about infrastructure development, the governor said the government will construct the Nagpur-Goa Shaktipeeth Expressway, which will connect major religious and pilgrimage sites on the route. “The expressway will reduce travel time and foster economic growth in the region,” he said.

The government has also decided to implement the Ram Kal Path project in Nashik to preserve the region’s Ramayana-linked heritage and transform it into a pilgrimage destination, Mr. Radhakrishnan added.

Reaffirming the government’s commitment to resolve the Maharashtra-Karnataka border dispute, the governor stated that expert advocates have been appointed to represent Maharashtra in the Supreme Court. He also emphasised the state’s focus on the welfare of Marathi-speaking people in the border areas through various educational and healthcare schemes.

Highlighting Maharashtra’s position as a leading industrial state, the Governor noted that the state contributes over 14 per cent of India’s total GDP and remains a top destination for foreign direct investment. At the World Economic Forum in Davos in January 2025, the Maharashtra government signed Memorandums of Understanding (MoUs) worth over Rs 15.72 lakh crore with 63 national and international companies. These agreements are expected to create more than 15 lakh employment opportunities in the state,” he said.

In his address, the Governor emphasised the government’s commitment to boosting industrial growth and creating employment opportunities. “Our government is committed to fostering industrial growth and generating employment opportunities. To attract investment, we have planned to disburse investment promotion subsidies amounting to Rs 5,000 crores to various industries in the state. Through the Maharashtra Industrial Development Corporation, we will also allot approximately 3,500 acres of industrial plots to support and encourage industrialisation,” he said.