Maharashtra Secures Billions in Deals at Davos 2026, Aims for Massive Job Creation

Chief Minister Devendra Fadnavis presided over the exchange of several Memoranda of Understanding (MoUs) between the Government of Maharashtra and various global entities to promote industrial and urban development. According to the Maharashtra Chief Minister's Office on X, the state government signed agreements in sectors including logistics, steel, and urban infrastructure.

One of the commitments came from the SBG Group, which signed an MoU with the Mumbai Metropolitan Region Development Authority (MMRDA) for a USD 20 billion investment in the logistics sector.

This project aimed to generate 4,50,000 jobs in the Mumbai and MMR region. Additionally, Alta Capital and Panchshil Realty committed 25 billion dollars, with a projected employment generation of 2,50,000. These agreements highlighted the state's focus on the Mumbai Metropolitan Region as a destination for capital and employment.

K Raheja Corp signed an agreement worth 10 billion dollars to create 1,00,000 jobs, while Sumitomo Realty & Development and IISM Global each committed 8 billion dollars, promising 80,000 jobs each. In the manufacturing sector, BFN Forgings signed an agreement for 565 crore rupees in the steel sector, targeting the Palghar and MMR region to provide employment for 847 individuals.

The Maharashtra government also established partnerships for urban transformation, exchanging MoUs with the Japan International Cooperation Agency (JICA) as a strategy and policy partner and with Sembcorp Development Ltd from Singapore as a knowledge partner for integrated industrial parks with low carbon emissions. The Technical University of Munich agreed to collaborate on sustainable urban transport systems, while the Urban Futures Collective from London worked on creating digital twin ecosystems for Mumbai to enhance urban livability and resilience.

Following a discussion with Juvencio Maeztu, CEO and President of Ingka Group (IKEA Retail), Chief Minister Fadnavis said on X, "It was nice to know about IKEA's plans for India and he thanked us for the support by GoM for their business in Maharashtra. Very happy to hear from him IKEA's plans for large-scale investment and expansion in Maharashtra."

The Minister also stated that he held an engagement with Jeff Merritt, Head of Urban Transformation at the WEF, which included discussions, "on global industrial shifts and the role of sustainable innovation in future enterprise development."

- ANI