Maharashtra Secures $96B in Davos Deals for New Mumbai Smart City

Fadnavis, who is Davos to attend World Economic Forum meeting, told ANI in an interview that Maharashtra has launched new smart city Raigad Pen Growth Centre near the New Mumbai airport and a lot of foreign companies have already shown their interest in investing in this new city. He said the new smart city will host a number of Global Capability Centres (GCCs) as also FinTech.

He also said that any bilateral agreement is beneficial to a state like Maharashtra as it has always been a growth engine of the Indian economy.

"We have launched our new smart city, which is Raigad Pen Growth Centre. This Raigad Pen Growth Centre is near the New Mumbai airport, and this is the first partnership whereby the private sector and the MMRDA, which is the government sector, are coming together and building a new business district in Mumbai or in New Mumbai...I am very happy that a lot of foreign companies have already shown their interest in investing in this new city, whereby you know it will host a number of GCCs, will host FinTech, and it will be a very inclusive business district... High-paid jobs will be created," the Chief Minister said.

"I want to reiterate that we are not just looking at the amounts of MoUs, we are looking at the sectors and we are looking at how knowledge, technologies are transferred and how FDIs come," he added.

The Chief Minister said that MoUs are the byproduct of the interaction that he and state government officials are having with the industralists and investors in Davos.

Fadnavis laid thrust on investment in the MedTech sector, noting that it will help bring down cost of health care in the country.

"Today, if you look at the healthcare sector of India and Maharashtra, our major expenses today are on non-communicable diseases...If we have investments in MedTech and create a pool of workers, health workers, who are trained in this med tech equipment and medical technology, I think we can bring down this cost substantially, and we can provide universal access to everybody," he said.

"I am very happy that a lot of investment is coming to Maharashtra and it is in diverse sector and all the companies which are investing are bringing FDI to Maharashtra that is very important...Today, we are focusing more on strategic MoUs. We have signed MoUs with the University of Berkeley, MIT, and many other institutions, through which we partner with them to share knowledge, bring technologies, and implement processes...Today we had a session on MedTech. Now that we are trying to give everyone access to health care, MedTech is very important...We have charted a roadmap for moving forward in MedTech," he added.

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 with Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, representing the authority.

Speaking on the exchange of these MoUs at Davos 2026, 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. By transforming the MMR into a world-class, technology-driven powerhouse, we are ensuring that Maharashtra remains the primary engine of India's growth. Following last year's Rs 16 lakh crore success, we have set our sights even higher this year to bring life-changing infrastructure and millions of jobs to our youth," he added.

- ANI