How is Maharashtra Leading India’s FDI Equity Gains Since 2019 While West Bengal Trails?
Click to start listening
Synopsis
Maharashtra has taken the lead in attracting FDI in India, securing over $282 billion since 2019. This article explores its impressive economic growth and contrasting performance compared to West Bengal, highlighting the factors influencing these trends.
Key Takeaways
- Maharashtra has led India in FDI equity gains since 2019, attracting over $282 billion.
- West Bengal has significantly less FDI at $1.9 billion.
- Infrastructure expansion includes over 1.1 lakh km of national highways.
- India recorded $114 billion in greenfield investment in the digital economy over five years.
- Projected economy growth for Maharashtra aims for $1 trillion by 2030.
New Delhi, July 25 (NationPress) Maharashtra has emerged as a frontrunner in attracting Foreign Direct Investment (FDI) equity, with India amassing over $282 billion since 2019. In stark contrast, West Bengal has managed to secure only $1.9 billion, according to recent data posted by Infoindata on its X social media platform.
Infoindata highlighted that Maharashtra leads with a remarkable $88.7 billion, while West Bengal lags significantly, a situation attributed to governance uncertainties and an uninviting business environment that have deterred investors from the state.
Chief Minister Devendra Fadnavis emphasized Maharashtra's robust position. Citing a study from Morgan Stanley, he mentioned that the state is on track to achieve a $1 trillion economy by 2030, which would nearly double its current size of $536 billion, the highest among Indian states and comparable to Singapore's economy.
The report indicates that Maharashtra is the leading recipient of FDI in India, attracting $19.6 billion in FY25, which constitutes 39.2 percent of India's total FDI inflow. The state also ranks as India's second-largest exporter after Gujarat, holding a 15.4 percent share of national exports in FY24, contributing 13.7 percent to its GDP. Key export sectors include jewellery, electronics, chemicals, engineering machinery, and pharmaceuticals.
On a global scale, India stands at 16th position for FDI inflows, having recorded $114 billion in greenfield investments in digital economy sectors over the past five years (2020-2024), which is the highest among countries in the Global South, as reported by a recent RBI bulletin.
Furthermore, Non-Resident Indian (NRI) deposits have climbed to $165.43 billion in April this year, up from $164.68 billion in April of the previous year. Additionally, Foreign Currency Non-Resident Bank (FCNR(B)) deposits have seen a 9 percent year-on-year increase in April 2025, with balances growing to $33.08 billion from $30.26 billion in April 2024.
The accumulation of forex reserves has further bolstered the rupee, reflecting a robust external balance.
Moreover, Infoindata noted that over the past decade, India has constructed over 1.1 lakh km of national highways, an unprecedented infrastructure expansion that has enhanced connectivity, accelerated regional growth, and transformed the economic landscape across states.
pgh
Point of View
It is crucial to acknowledge Maharashtra's exemplary performance in attracting FDI, a reflection of its conducive business environment. In contrast, the struggles of West Bengal highlight the importance of governance and investor confidence. This narrative serves as a reminder for policymakers across the nation to create frameworks that foster economic growth and stability.
NationPress
26/07/2025
Frequently Asked Questions
What is the total FDI equity India secured since 2019?
India has secured over $282 billion in FDI equity since 2019.
How much FDI has Maharashtra attracted?
Maharashtra has attracted approximately $88.7 billion in FDI.
What are the key export sectors of Maharashtra?
Key export sectors include jewellery, electronics, chemicals, engineering machinery, and pharmaceuticals.
What is the projected economy size of Maharashtra by 2030?
Maharashtra is projected to achieve a $1 trillion economy by 2030.
How has India's global FDI ranking changed?
India currently ranks 16th globally in FDI inflows.
