The JSW Group has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to invest ₹3 lakh crore in the state in a move aimed at boosting industrial growth and sustainable development. The announcement was made at the World Economic Forum (WEF) in Davos on Tuesday, January 21, 2025. The ambitious investment will focus on diverse sectors, including steel, renewable energy, electric vehicles (EVs), battery manufacturing, and cement, further strengthening Maharashtra’s position as India’s leading industrial hub.

The JSW Group’s investment will target critical sectors such as:

• Steel: Expansion of manufacturing capacities using green technology.
• Renewable Energy: Development of sustainable and clean energy projects.
• Electric Vehicles: Establishment of advanced EV manufacturing units.
• Lithium-Ion Batteries: Setting up facilities for high-performance EV batteries.
• Solar Modules: Strengthening the solar energy ecosystem with wafer and cell manufacturing.
• Infrastructure and Cement: Driving the state’s infrastructure transformation.
  
  The strategic initiative is expected to create thousands of jobs, enhance industrial capabilities, and contribute significantly to sustainable economic growth.

The Government of Maharashtra will facilitate the investment by expediting clearances, offering fiscal incentives, and ensuring the availability of essential resources such as land, water, and power.

Speaking on the occasion, Maharashtra Chief Minister Devendra Fadnavis said, “The signing of this MoU with JSW Group marks a significant step in realising our vision of developing Gadchiroli as the ‘steel city’ of India. JSW’s diverse investments across sectors like steel, solar, auto, and cement highlight their confidence in Maharashtra’s potential. This collaboration will bolster Maharashtra’s position as an industrial and economic powerhouse, driving innovation, job creation, and long-term prosperity for our people.”

Sajjan Jindal, Chairman of JSW Group, reiterated the company’s commitment to Maharashtra, stating, “This partnership reflects our dedication to supporting Hon’ble Prime Minister Narendra Modi Ji’s vision of a Clean and Green Bharat. Through this investment, we aim to boost industrial development while driving India’s green transition with sustainable technologies and clean energy solutions. We are grateful to the Maharashtra government for their industry-friendly policies, which enable transformative initiatives like this.”