Blitz Bureau
NEW DELHI: In a clear show of its economic strength amid geo-political uncertainties, India bagged investment commitments worth more than Rs 20 lakh crore at the annual World Economic Forum (WEF) summit in Davos this week. Maharashtra managed to get the biggest pie of almost 80 per cent investments proposals at the global event.
Led by Chief Minister Devendra Fadnavis, Maharashtra signed at least 61 MoUs worth Rs 15.7 lakh crore, with the potential to generate over 16 lakh jobs. Telangana delegation, led by CM Revanth Reddy, grabbed 20 MoUs worth at least Rs 1.80 lakh crore.
Kerala and Uttar Pradesh also showcased their ambitious future plans and secured significant investment commitments.
Andhra Pradesh Chief Minister N. Chandrababu Naidu held fruitful discussions with chief executive officers (CEOs) of various globally-renowned companies and representatives of different nations. During meetings with heads of different business houses, the Chief Minister explained in detail the opportunities available in the state for making their investments.
At the event, IT major Infosys also announced to expand its presence in Hyderabad and create 17,000 jobs.
Union Railways and Electronics and IT Minister, Ashwini Vaishnaw, highlighted India’s balanced approach to economic development with both manufacturing and services driving the nation’s growth in his speech at the World Economic Forum. He emphasised India’s transformation from focusing solely on import substitution to adopting a “Make in India, Make for the World” approach.
Vaishnaw highlighted India’s ascent in the semiconductor and AI sectors, stating that “most semiconductor industry leaders believe today that India will soon join the top three destinations for semiconductors”.
“With nearly 2,000 Global Capability Centers (GCCs) working on advanced designs, India is poised to be a major player in global manufacturing,” he said at the WEF Summit.
He emphasised India’s potential to become the “use case capital” of the world, creating innovative applications for industries globally. He noted that while AI models are becoming increasingly commoditised, the focus should shift to developing use cases, applications, and solutions that cater to global industries.
