The Maharashtra Government has signed MoUs with 25 Indian companies proposing to invest Rs 61,000 crore in multiple sectors under the Magnetic Maharashtra initiative. The investors signed the MoUs with the Maharashtra Industrial Development Corporation. The state launched key investment promotion recovery initiatives under Magnetic Maharashtra 2.0 such as Plug & Play Infrastructure, Maha Jobs, MahaParwana, Investor First Program, Capacity Augmentation of MIDC land banks and Dedicated Country Desks. Some of the MoUs signed include the JSW Steel worth Rs 20,000 crore, Indian Corporation worth Rs 11,049 crore and Rs 7500 crore each by K Raheja, Kirtikumar Steel Udyog and Inspire Infra Projects.
The previous Magnetic Maharashtra 2.0 held in June 2020 saw investment commitments of around Rs 17,000 crore. This was complimented by a second such event in November 2020, where the additional investment commitment was around Rs 35,000 crore. In addition, the state attracted investments of about Rs 14,000 crore through organic investments through their advanced single window system in 2020.