MoUs Signed at Davos: Cong Leader Prithviraj Chavan Seeks 'White Paper' From Fadnavis

Senior Congress leader Prithviraj Chavan on Sunday said it was not fair to criticise Maharashtra Chief Minister Devendra Fadnavis' visit to the World Economic Forum in Davos, but demanded a 'white paper' to ensure transparency over the investment commitments announced there.

Maharashtra has signed MoUs of Rs 30 lakh crore at the World Economic Forum (WEF) in Davos, which can create up to 40 lakh jobs in areas ranging from industries, services, agriculture and technology, Fadnavis had said on Thursday.

If MoUs worth ₹30 lakh crore have indeed been signed, it is a matter of happiness as foreign investment is essential for Maharashtra's development, Chavan said.

However, projecting inflated figures only for publicity is misleading, as the truth eventually comes out, the former chief minister pointed out.

Raising questions over past investment summits, Chavan asked how many industries had actually started in Maharashtra from MoUs signed at Davos in previous years, how much investment had materialised, and how many real jobs were created.

The former chief minister also criticised the signing of MoUs with local companies at Davos, citing Karnataka Industries Minister MB Patil's statement that the Karnataka government signs agreements only with foreign investors at the summit.

"This has helped Karnataka attract more overseas companies and achieve a higher per capita income than Maharashtra," Chavan claimed.

Calling the signing of MoUs with Mumbai-based companies such as Adani and Lodha at Davos a "cruel joke", Chavan said it defeats the purpose of an international investment meet meant to attract foreign capital.

He said unemployed youth in Maharashtra want transparency, accountability and actual jobs, not events and announcements.

"The chief minister must release a white paper on the status of MoUs signed during past Davos visits and on major projects with substantial foreign direct investment that have started during the current tenure," Chavan demanded.

Holding a virtual news conference from the Swiss city on Thursday, Fadnavis had also said talks are at a preliminary stage for projects worth Rs 7-10 lakh crore, and MoUs are expected to materialise in the next two months.

The CM had said 83%of MoUs are Direct Foreign Investment.

As much as 16% of the investment is in the form of technical partnership in financial institutions, and these are import substitute technologies, he had said.

Fadnavis had informed 83% of the FDI would come from 18 countries including the US, UK, Singapore, Japan, Switzerland, Sweden, the Netherlands, Norway, Italy, Germany, France, Austria, UAE, Spain, Canada and Belgium.

The realisation rate of these MoUs is 75%. Last year's MoUs have materialised to the extent of 75% the chief minister had said.