In a major boost to global investment and economic growth outlook, memoranda of understanding (MoUs) worth approximately $50 billion were announced this week between the government of Maharashtra and leading domestic and global investors at India Global Forum’s flagship ‘NXT25: Leading the Leap’ summit, held at the Jio World Convention Centre in Mumbai.
The Mumbai Metropolitan Region Development Authority (MMRDA) signed five major MoUs for infrastructure development in the Mumbai Metropolitan Region, with a total commitment of $49.02 billion, including:
$18.09bn with Housing and Urban Development Corporation Ltd. (HUDCO)
$12.06bn with REC Limited
$12.06bn with Power Finance Corporation Limited (PFC)
$6.03bn with Indian Railway Finance Corporation Ltd. (IRFC)
$843mn with National Bank for Financing Infrastructure and Development (NaBFID)
In a major consumer sector investment, Magnum Ice Cream Company, a division of Unilever and the world’s largest ice cream brand group, signed an MoU to:
Establish its India headquarters in Mumbai, which will serve as the regional HQ for the Middle East, Turkey, and South Asia (METSA)
Set up a Global Capability Centre (GCC) in Pune with an investment of around $108.4mn, aimed at consolidating global business services and innovation. The facility is expected to create over 500 direct jobs by 2029
Maharashtra Chief Minister Devendra Fadnavis laid out an ambitious roadmap for the state’s economic and infrastructural growth. In a Q&A with Bloomberg TV’s Haslinda Amin, he was asked about the high debt levels in the state of Maharashtra.
He said: "In India, Maharashtra has the best fiscal health. If you look at other states’ fiscal health — our fiscal deficit is below 3 per cent, and our entire debt is just 17 per cent of the GDP."
Speaking on the investor sentiments in the backdrop of global events, he highlighted, “Today is better than yesterday and tomorrow will be better than today. We are interacting with our investors; they are confident and bullish.”
Maharashtra’s Deputy Chief Minister, Eknath Shinde, also highlighted the state’s growth story: “Mumbai is the growth engine of India. We are making Mumbai and Maharashtra smarter. Our vision is to make Maharashtra a launchpad for India’s economic leap in the future.”
Earlier, Manoj Ladwa, Founder and Chairman of India Global Forum, highlighted the role of youth in shaping future-forward dialogues and driving change: “We look forward through the eyes of the next generation to a dynamic and globally savvy next gen which is leading the leap in some remarkable ways.
“Unapologetically bold, ambitious and patient to change the world they brought fresh energy and a sharpening sense of urgency to this platform.”
Bringing together CEOs, policymakers, global investors, and industry disruptors, NXT25 explored the biggest trends shaping India’s future on the world stage, spotlighting India’s ambitions for the next 25 years and its emergence as a global powerhouse in investment, technology, sustainability, and innovation.
*Info: India Global Forum
