Real Estate Maharashtra
Congress Questions Maharashtra Govt’s Davos MoU with Lodha Developers
2026-01-20 · Geosquare
NEW DELHI: The Congress party on Tuesday termed the signing of a Memorandum of Understanding (MoU) between the Maharashtra government and Lodha Developers in Davos, Switzerland, as 'bizarre.' The opposition party questioned the Chief Minister Devendra Fadnavis's decision to sign the pact in Switzerland, suggesting there might be hidden motives behind this move.
Lodha Developers, a prominent real estate firm, has committed to investing Rs 1.3 lakh crore to build a 2.5 gigawatt data centre park near Mumbai. This project is part of the company's broader strategy to expand its business. In a regulatory filing, the company announced that it has signed an MoU with the Maharashtra government for an additional Rs 1 lakh crore investment to develop the data centre park. The MoU was signed during the World Economic Forum (WEF) in Davos, Switzerland.
Jairam Ramesh, the Congress general secretary in charge of communications, expressed his skepticism on X (formerly Twitter). He wrote, 'The Chief Minister of Maharashtra goes to Davos and signs an MoU with a company belonging to a minister in his Cabinet. Did he have to sign it in Switzerland, or is there some hidden meaning in this bizarre event?'
Earlier, the Congress party had already criticized the Maharashtra government over the MoUs signed at the WEF. They questioned the rationale behind traveling abroad to sign agreements with Indian companies. Congress leader Vijay Wadettiwar, speaking to reporters in Nagpur, said, 'If Indian companies are going abroad to sign agreements, what is the benefit? Will foreign companies actually invest in Maharashtra?'
Chief Minister Fadnavis is attending the WEF annual meeting in Davos, where on the first day, he signed 19 MoUs. These agreements involve investment commitments worth Rs 14.5 lakh crore and the creation of more than 15 lakh jobs. The Congress party's criticism highlights the ongoing political tension and skepticism surrounding the state government's international business dealings.
The Maharashtra government's decision to sign such significant agreements in Davos has raised eyebrows, particularly given the domestic nature of the companies involved. The opposition's concerns revolve around the transparency and the potential for hidden agendas in these international signings. As the debate continues, the implications of these MoUs on the state's economy and development plans remain a topic of intense scrutiny and discussion.