Mumbai, Jan. 21 -- The state government has signed Memorandums of Understanding (MoUs) worth Rs.14.5 lakh crore across sectors like artificial intelligence, quantum computing, digital infrastructure, fintech, electric vehicles, real estate and education at the Davos World Economic Forum on Tuesday. However, this came under criticism from the opposition parties in the state as many companies with whom these MoUs were signed are Indian. The biggest MoU so far, for Rs.2.28 lakh crore was signed with a joint venture of Alta Capital and Panchshil Realty which are headquartered in Pune and Mumbai respectively. SBG Group, a Bengaluru based firm committed to invest Rs.1.82 lakh crore in the logistics sector in the Mumbai Metropolitan Region. Another major investment of Rs.1 lakh crore, was signed with Lodha Developers which is headquartered in Mumbai and the company is owned by Mangal Prabhat Lodha who is a member of Devendra Fadnavis's cabinet. The MoU with the Lodhas is to create data centres in the Mumbai Metropolitan Region. "If they want to sign MoUs with Mumbai firms they can simply invite them to the government's Sahyadri guest house in Mumbai to formalise them. Why go to Switzerland for this?" said Nationalist Congress Party (SP) spokesperson Clyde Crasto. "Chief minister Fadnavis has made it a habit of making tall claims when he goes to Davos," said state Congress chief Harshwardhan Sakpal. "Why do they need to go to Davos to sign deals with Indian companies?" Among the other MoUs signed in the last two days are with Mumbai based real estate conglomerate K. Raheja Corp that will invest Rs.91,000 crore, IISM Global, a Mumbai based firm committed to invest Rs.72,800 crore and Surjagad Ispat Limited which has promised to invest Rs.20,000 crore for a steel plant in Gadchiroli district where the company has an existing iron ore project. The proposed project is expected to create 8,000 jobs. Yoki and Green Energy Pvt Ltd, is another Mumbai based firm which promised to invest Rs 4,000 crore in the renewable energy sector in MMR's Palghar. Of the two foreign firms that signed MoUs with the government of Maharashtra on Tuesday are the Japanese real estate company Sumitomo Realty & Development Company Limited which has promised to invest Rs.72,800 crore and the Danish beer company Carlsberg which will invest Rs.500 crore in the state. There are also other foreign firms such as Japan International Cooperation Agency (JICA), Sembcorp Development Ltd., Singapore and Technical University of Munich, Germany that have signed up to become policy and strategy partners and knowledge partners with Mumbai Metropolitan Region Development Authority (MMRDA), according a release issued by the chief minister office (CMO). However, the details of other companies were not shared in the release shared by the state government. "Maharashtra is the leading state with the country as far as inflow of Foreign Direct Investment (FDI) is concerned, we are especially looking for investment into the third Mumbai that we hope to build," Fadnavis told the media from Davos where he also inaugurated the Maharashtra pavilion. "These investments in construction, education, pharmaceuticals will have a multiplier effect on the country's economy." This year has seen the largest number of Indian states making their pitch at Davos. These include Gujarat, Telangana, Karnataka, Madhya Pradesh, Kerala and Jharkhand. Last year, the Maharashtra government had signed 62 MoUs worth Rs.15.70 lakh crore at the WEF. Officials from the state industries department told HT that a majority of the MoUs had been realised. "The actual realisation takes at least seven to eight years but action on 34 MoUs is in the process where allotment of land and other processes have been initiated. These MoUs signed last year will bring an investment of Rs.9,22,000 crore," confirmed a senior official of the industries department. "There are only 14 MoUs on which no action has been initiated," he added. Likewise in 2024, a total of 23 MoUs worth Rs.3.10 lakh crore were signed, of which implementation on nine MoUs worth Rs.2.13 lakh crore has begun," said the bureaucrat....