Explained: Why Maharashtra is losing charm as investment destination

State sees rise in stalled projects and re-emergence of revenue deficit due to welfare schemes, but has tackled joblessness better and kept debt servicing under check

In 2015, Maharashtra’s first BJP chief minister Devendra Fadnavis surprised everyone in the state by announcing that Foxconn, a leading electronics contract manufacturing company from Taiwan known for producing iPhones, will set up a plant in the state.

In 2018, the state government launched a campaign with the name “Magnetic Maharashtra”, where the state was personified as a magnet that pulls investments. In 2019, the project is nowhere to be seen. 

Data echoes the anecdote. From housing more than a tenth of project completions in the country, Maharashtra’s share has been consistently below 10 per cent in recent years, shows data from