Mumbai, March 13 (NationPress) - Industries Minister Uday Samant announced in the Legislative Assembly that Maharashtra remains the leading hub for investments in India.

In response to a proposal under Rule 293, the Minister disclosed that the state has successfully secured Memorandums of Understanding (MoUs) worth more than Rs 31 lakh crore during the 2026 World Economic Forum held in Davos.

For the third consecutive year, Maharashtra has claimed the top spot in attracting Foreign Direct Investment (FDI), a success attributed to the state's strong industrial ecosystem and proactive policy initiatives.

He shared that the government is preparing to unveil a saffron paper detailing the present status of MoU implementation.

Minister Samant emphasized that the investments are not confined to the Maharashtra Industrial Development Corporation (MIDC) but extend across various critical departments. Out of the total Rs 31 lakh crore in MoUs, the Industries Department has signed agreements worth Rs 15.15 lakh crore, while the Mumbai Metropolitan Region Development Authority secured Rs 15.10 lakh crore and the Maharashtra State Road Development Corporation accounted for Rs 1 lakh crore.

“While other states see a project implementation rate between 35% to 40%, Maharashtra has achieved an impressive conversion rate of 75% to 80% since 2022,” the Minister pointed out, stressing that these agreements will foster significant job creation and industrial expansion.

In a pivotal move for urban development, the state government is working on a dedicated policy aimed at the rehabilitation of slum dwellers residing on MIDC land.

Minister Samant elaborated that an SRA (Slum Rehabilitation Authority) policy, inspired by the state’s Industrial and Gems & Jewellery policies, is under review. An official decision is anticipated within the next two months to provide permanent housing for families who have lived on industrial land for years.

The Minister reaffirmed the Industries Department’s dedication to equitable regional development.

He noted that the government is committed to establishing new MIDC zones and enhancing employment opportunities to ensure the advantages of industrialization reach all parts of the state.

Responding to concerns about Mumbai’s infrastructure, the Minister assured that the Brihanmumbai Municipal Corporation (BMC) fixed deposits are secure and are being utilized efficiently for developmental projects.

He informed the assembly that 1,048 roads covering 278.83 km have been completed. Phase 1 is currently 54% complete, while Phase 2 is at 56% completion.

In light of the discovery of irregularities totaling Rs 65 crore, the government has enacted stringent measures against those implicated. To promote transparency, tenders worth Rs 380 crore were cancelled and are being re-invited.