Vietnam-based conglomerate Vingroup is set to enter the Indian market with a proposed investment of $8.5 billion in Maharashtra, Chief Minister Devendra Fadnavis announced.
The investment is expected to generate nearly 24,700 jobs, providing a significant boost to employment in the state.
The announcement follows the signing of a Memorandum of Understanding (MoU) between Vingroup, the state industries department, and the Mumbai Metropolitan Region Development Authority, formalising collaboration on large-scale projects.
The proposed investment will focus on key emerging sectors including electric mobility, infrastructure, and clean energy. While detailed project plans are yet to be disclosed, the scale of the investment positions it among the largest foreign commitments to Maharashtra.
Officials noted that the move strengthens the state’s position as a major destination for global investments, with expectations of boosting ancillary industries and strengthening supply chains, particularly in the electric vehicle ecosystem.
