3-fold increase in FDI in Maha in 2017 against 2014: Fadnavis

There was three-fold increase in Foreign Direct Investment in Maharashtra in 2017 compared to 2014, which shows the global community's faith in the state, Chief Minister Devendra Fadnavis said today.

He was speaking at 'India Economic Summit 2018' at the Bombay Stock Exchange here.

Prime Minister Narendra Modi has encouraged co-operative federalism and he asks foreign dignitaries to visit state leaders instead of only focusing on the Central leadership so that the states can become growth engines, the chief minister said.

Taking a swipe at the previous Congress-NCP regime, Fadnavis said the state lacked good governance earlier which put other states ahead of it in terms of growth.

"Now, Maharashtra has regained its numero uno position. A Deutsche Bank report states that of all big-ticket investments in infrastructure projects, 50 per cent has been in Maharashtra. And out of the total FDI, 40 per cent has been in Maharashtra," he said.

"As compared to 2014 (when the BJP-led government came to power), there has been a three-fold increase in FDI in the state in 2017. This shows the faith of the global community in the state and is a result of proper implementation of policies and a synergy between the Centre and the states," Fadnavis said.

In last three years, 11,000 villages in the state have become drought-free and self-sufficient in water supply due to the government's flagship 'Jalyukt Shivar' scheme, he said.

Ground water levels in parts of the state have gone up by five meters, and by three meters in the drought-prone Marathwada, he said.

"We...are working towards making Maharashtra a (USD) 1 trillion economy by 2025," Fadnavis said.

Earlier, in his inaugural speech, Shaurya Doval, Director of think tank India Foundation which had organised the event, said the country has been "reset in multiple dimensions" in the last four years.

"India has been reset in multiple dimensions and the architecture is being laid for a new India," said Doval, the son of National Security Adviser Ajit Doval.

"In the last four years, a whole host of events have taken place in areas of social reforms, economic reforms, political reforms. Many of these may look as random events, but actually, there is a certain pattern to what is going on," he said.