Maharashtra has once again cemented its position as the top destination for foreign investment in India, attracting a staggering 52.46% of the country’s total investments in the first quarter of the 2024-25 financial year. From April to June 2024, the state received a total of Rs 70,795 crore in foreign direct investment (FDI), far surpassing any other state in India.
This milestone continues Maharashtra’s two-year streak as the leader in attracting FDI. The state’s dominance is evident as its investments exceed the combined total of all other top-ranking states. Karnataka followed with Rs 19,059 crore, Delhi at third with Rs 10,788 crore, and Telangana, Gujarat, and Tamil Nadu taking the fourth, fifth, and sixth spots with Rs 9,023 crore, Rs 8,508 crore, and Rs 8,325 crore respectively. The combined investment of these states still falls short of Maharashtra’s achievement.
Commenting on the development, Deputy CM Devendra Fadnavis said, “Congratulations Maharashtra! Very good news! Maharashtra leads in FDI with a staggering 52.46% of India’s total investment! Maharashtra which is consecutively ranked No. 1 for last 2 years in FDI, now has secured maximum investment ie 52.46% of India’s total FDI in the 1st quarter of the financial year 2024-2025.”
Congratulations Maharashtra! Very good news! Maharashtra leads in FDI with a staggering 52.46% of India’s total investment!
Maharashtra which is consecutively ranked No. 1 for last 2 years in FDI, now has secured maximum investment ie 52.46% of India’s total FDI in the 1st… pic.twitter.com/IVKjGqzGTI — Devendra Fadnavis (@Dev_Fadnavis) September 6, 2024
The total foreign investment in India for the first quarter was Rs 1,34,959 crore, with Maharashtra’s contribution accounting for over half of this at Rs 70,795 crore.
Successful streak
This stellar performance builds on Maharashtra’s strong FDI record in the previous financial years. In FY 2022-23, the state attracted Rs 1,18,422 crore in foreign investment—more than Karnataka, Delhi, and Gujarat combined. In FY 2023-24, Maharashtra brought in Rs 1,25,101 crore, surpassing both Gujarat and Karnataka combined once again.
From 2014 to 2019, during its previous stint in power, Maharashtra had drawn Rs 3,62,161 crore in FDI. Notably, since returning to power, the current administration has attracted an impressive Rs 3,14,318 crore in just two and a half years, approaching the earlier five-year total.
what lies ahead
While Maharashtra continues to break investment records, the data for the second quarter is yet to be released. Given its current trajectory, the state is poised to maintain its leadership in attracting foreign capital, further strengthening its position as India’s economic powerhouse.