Maharashtra tops India's FDI second time in a row; leaves Karnataka, Delhi way behind

Maharashtra secured the maximum foreign direct investment (FDI) in India for the second consecutive time in a row. The state secured Rs 70,795 crore in Q1 FY2024-25 (April-June 2024), confirming its position as India's top destination for foreign investment. 

With this, the state secured 52.46 per cent of the country's total foreign direct investment, according to the data by the Department for Promotion of Industry and Internal Trade (DPIIT).

Commenting on the data, Maharashtra Deputy Chief Minister Devendra Fadnavis said: "In short, the total investment in the country during this quarter is Rs 1,34,959 crore, of which Rs 70,795 crore or 52.46 per cent alone is reported from Maharashtra."

Maharashtra has been the FDI leader for the past consecutive two years. Fadnavis added that Maharashtra received Rs 12,35,101 crore in FDI in 2023-24, more than that of Gujarat and more than Gujarat and Karnataka combined.

This time around, the state has outpaced a total of eight states including Karnataka, Delhi, Telangana and Gujarat. Karnataka emerged a distant second, with total FDI investments worth Rs 19,059 crore. 

Top FDI investment destinations in India 

While sharing this data, Fadnavis also wrote: "We had told from day 1 that we would do 5 years' work in just 2.5 years! So, in just 2 years and 3 months, we have brought in Rs 3,14,318 crore investment! And still, the second quarter numbers are yet to be out..."

He further mentioned that during his tenure as the Maharashtra CM from 2014-19, a total of Rs 3,62.161 crore of foreign investment came into the state. The DPIIT data comes as a major relief to the Mahayuti government at a time when the opposition Maha Vikas Aghadi (MVA) bloc has been attacking it over investments moving to Gujarat and other states. 

The MVA upped its ante against the Mahayuti after Maharashtra lost multi-crore projects such as Rs 1.80 lakh crore Vedanta-Foxconn project, Tata Airbus manufacturing plant, GAIL's 1.5 million tonnes per annum ethane cracking unit at Sehore, Madhya Pradesh with an investment of Rs 50,000 crore to other states.