Maharashtra a reliable borrower, says chief minister Devendra Fadnavis, seeks funds from global lenders for $100bn infra projects

Mumbai: Maharashtra chief minister Devendra Fadnavis on Thursday pitched the state govt as a reliable borrower with a massive pipeline of infrastructure projects, using the platform of Emirates NBD’s acquisition of a 60% stake in RBL Bank to seek global capital for what he described as a $100 billion opportunity.Speaking at the event in Mumbai, which was attended by Emirates NBD vice-chairman and managing director Hesham Abdullah Al Qaseem and group CEO Shayne Nelson, Fadnavis made a direct appeal to international lenders to partner with the state in funding large-scale projects.“Apart from the private sector, the govt is also one sector which is safest to lend to. We never default,” Fadnavis said, underlining the state’s repayment credibility.

He added, “And I have a project pipeline of 100 billion dollars. Maybe we can go together.”The remarks came as Emirates NBD announced a landmark investment in RBL Bank, marking the largest foreign equity acquisition in India’s banking sector and signalling growing financial ties between India and the UAE.Fadnavis pointed to the role of State Bank of India in backing Maharashtra’s flagship Samruddhi Mahamarg project as evidence of the state’s credibility.

He said SBI was the first lender to support the project and that it now stands as proof of the viability of lending to the state. “SBI can tell that we are the best customers,” he said.Framing the transaction as a sign of global investor confidence, Fadnavis said the deal reflects the strength of India’s growth story and the deepening economic relationship between India and the UAE. He added that such large-scale equity infusions would pave the way for greater foreign participation in India’s banking sector, strengthening capital availability and supporting economic expansion.Highlighting Maharashtra’s economic significance, the chief minister said the state contributes about 14% to India’s GDP and attracts nearly 40% of the country’s foreign direct investment, positioning it as a key destination for global capital.He also expressed confidence that the fresh capital infusion into RBL Bank would enhance its lending capacity and enable it to expand into new areas, including potential partnerships with the public sector.Fadnavis’s remarks signal a broader push by Maharashtra to tap global liquidity pools for infrastructure financing, positioning the state govt as a low-risk borrower with a large pipeline of bankable projects.