Former Maharashtra CM Prithviraj Chavan Slams Davos Investment Deals as 'Cruel Joke'
In a sharp critique of Maharashtra's participation at the World Economic Forum, former chief minister and senior Congress leader Prithviraj Chavan has labeled the signing of investment deals with Mumbai-based companies at the global event as a "cruel joke" that negates its very purpose. Chavan made these remarks while addressing reporters at his residence in Karad, Satara, on Sunday, following Chief Minister Devendra Fadnavis' return from Davos, Switzerland.
Doubts Over Davos MOUs and Job Claims
Chavan expressed skepticism about the memorandums of understanding signed during Fadnavis' Davos visit, which reportedly total Rs 30 lakh crore and are claimed to generate 40 lakh jobs in Maharashtra. He questioned whether Indian company representatives traveled to Davos merely to inflate investment figures, rather than to secure genuine foreign investment.
"For the progress of the state's industry, foreign investment is necessary. However, announcing big numbers misleads people. The truth will eventually come out," Chavan stated. He pointed to unanswered questions from previous visits, asking: "In the last visit, many MOUs were signed. How many industries started? How much real foreign investment came into the state?"
Comparison with Karnataka's Approach
Highlighting a contrast in strategy, Chavan cited Karnataka's industry minister M B Patil, who noted that Karnataka never signs deals with Indian companies at Davos, focusing instead on global firms. This approach, Chavan argued, has led to Karnataka attracting more real foreign investment and achieving a higher per capita income than Maharashtra.
He criticized the deals signed with local companies like Adani and Lodha at Davos, stating: "Signing deals with local companies at Davos is a cruel joke and totally against the purpose of a global meet."
Call for Transparency and Direct Employment
Chavan emphasized the need for transparent and responsible governance to address Maharashtra's youth employment challenges. He argued that the state's youth require direct employment opportunities rather than reliance on high-profile events and grand announcements.
To ensure accountability, Chavan demanded that Chief Minister Fadnavis release a white paper detailing the specifics of the deals signed so far and the actual jobs created from them. This, he believes, would provide clarity and prevent misleading claims about economic progress.
As Maharashtra continues to navigate its industrial growth, Chavan's critique underscores ongoing debates about the effectiveness of global forums in driving real investment and job creation, calling for a more focused and transparent approach to economic development.
