At the World Economic Forum in Davos, the Sajjan Jindal-led JSW Group announced its ₹3 lakh crore investment agreement with the Maharashtra government in key sectors like steel, solar energy, automobiles, and cement. Maharashtra CM Devendra Fadnavis expressed his vision to develop Gadchiroli as India’s “Steel City” through this collaboration.
Uncertain Future of Kadapa Steel Plant
In February 2023, under the leadership of then-Chief Minister YS Jagan Mohan Reddy, a foundation stone was laid for the Jindal Steel Plant in Kadapa with an ₹8,800 crore investment. The project began under the JSW Group’s initiative but faced challenges after the 2024 elections brought about a change in the state government.
The controversy intensified when allegations surfaced involving a film actress and certain industrialists, including Sajjan Jindal, in a honey trap scandal. Cases were reportedly filed against business leaders and IPS officers, leading to the Jindal Group’s alleged frustration with the state government’s attitude. As a result, opposition parties claim the group shifted its focus to Maharashtra.
YSRCP leaders have criticized Alliance Government, questioning their silence as the Jindal Group, which they accused of driving away investors during Jagan’s tenure, now shifts its investments to Maharashtra.
