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Maharashtra's $96B Davos Haul: Innovation City & Tata's $11B Boost

Maharashtra Chief Minister Devendra Fadnavis announced a major "Innovation City" project near Mumbai airport at Davos, backed by an $11 billion investment from the Tata Group. The state's development authority secured a historic $96 billion in investment commitments on the first day of the WEF summit through 10 key MoUs. These investments are projected to create nearly a million jobs and are seen as critical blueprints for achieving a $1 trillion economy for the state. Fadnavis also highlighted the state's commitment to transitioning to 52% renewable energy and developing a circular economy for Mumbai.

Key Points: Maharashtra's $96B Davos Deals: Tata Invests $11B in Innovation City

  • $96B investment secured at Davos
  • Tata Group to invest $11B in Innovation City
  • Project to create 9.6 lakh jobs
  • Mumbai targets 52% renewable energy
  • Blueprint for 'Mumbai 3.0' and a $1T economy
2 min read

Devendra Fadnavis announces 'Innovation City' at Davos; Tata Group to invest 11 billion dollars

Maharashtra secures $96B in Davos, with Tata investing $11B in a new Innovation City near Mumbai, aiming for a $1T economy and green energy.

"The historic USD 96 billion in investments... is a reflection of the global investors' unwavering faith in Maharashtra's potential. - Devendra Fadnavis"

Davos, January 22

Maharashtra Chief Minister Devendra Fadnavis on Thursday announced the development of a state-of-the-art "innovation city" situated near the Mumbai airport to help new businesses grow. The Chief Minister revealed that the Tata Group will invest 11 billion dollars in this project, which aims to provide a "Plug and Play" ecosystem specifically designed to support the start-up community.

Emphasising the state's commitment to the International Solar Alliance, Fadnavis stated that Maharashtra is transitioning its energy grid to ensure 52 per cent of its total power is supplied by renewable sources. Additionally, he outlined a comprehensive vision for a circular economy in Mumbai, focusing on sustainable urban development to transform the city into a greener financial capital.

Reflecting on the journey of the project, Fadnavis said, "Got inspired from last years davos meeting for Maharashtra as innovation city and we are proud we addressed it this year in Davos 26."

Meanwhile, the Mumbai Metropolitan Region Development Authority (MMRDA) achieved a historic milestone at the World Economic Forum (WEF) Annual Summit 2026 in Davos, securing investment commitments worth USD 96 billion (Rs 8.73 lakh crore) on the very first day through the signing of 10 major Memoranda of Understanding (MoUs).

The landmark agreements are expected to generate approximately 9.6 lakh direct and indirect jobs, positioning the Mumbai Metropolitan Region (MMR) as the talent capital of India and Asia. The MoUs were signed in the presence of Chief Minister Devendra Fadnavis, with Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, representing the authority.

Speaking on the exchange of these MoUs at Davos 2026, Chief Minister Devendra Fadnavis said, "The historic USD 96 billion in investments secured on the very first day of WEF 2026 is a reflection to the global investors' unwavering faith in Maharashtra's potential. These 10 MoUs are not just financial agreements; they are the blueprints for 'Mumbai 3.0' and the key to accelerating our march towards the USD 1 trillion economy milestone."

- ANI

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Reader Comments

P
Priya S
$96 billion in one day? That's mind-blowing! If even half of these MoUs materialize, it will transform Mumbai's infrastructure. The promise of 9.6 lakh jobs is what excites me the most. Our youth desperately need these opportunities.
R
Rohit P
Great vision, but execution is key. We've seen big announcements before. Will this 'Mumbai 3.0' actually improve life for the common Mumbaikar, or just create more luxury enclaves? The circular economy focus is good, but let's see it on the ground.
S
Sarah B
As someone working in the sustainability sector, the commitment to 52% renewable energy for Maharashtra's grid is the real headline here. A green financial capital is the need of the hour. Hope other states follow this model.
V
Vikram M
Tata Group investing $11 billion shows immense confidence in Maharashtra's future. They have a history of nation-building. This project, combined with the other MoUs, could truly make Mumbai the talent capital of Asia. Jai Maharashtra! 🙏
K
Kavya N
All this investment is welcome, but what about the current state of Mumbai's local trains, roads, and water supply? Development should be holistic. "Mumbai 3.0" sounds impressive, but let's not forget to fix the basics for the people who already live here.

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