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Maharashtra Signs Key Deals at Davos for 'Third Mumbai' Tech Hub

The Maharashtra government, through the MMRDA, has signed memoranda of understanding with several global companies at the World Economic Forum in Davos to develop a major growth centre in Pen tehsil, Raigad. Chief Minister Devendra Fadnavis, who witnessed the signings, promoted the project as "Third Mumbai," a future hub for technology, fintech, and data centres. Fadnavis held numerous meetings on the sidelines, discussing digital public infrastructure, clean energy, and innovation partnerships with international leaders and CEOs. The initiative aims to position the Raigad Pen Growth Centre as a premier global destination for business and investment.

Key Points: Maharashtra Signs MoUs at Davos for Raigad Pen Growth Centre

  • MoUs signed at WEF Davos
  • 'Third Mumbai' tech & fintech hub
  • Global Capability Centre district
  • Focus on digital infrastructure & clean energy
  • Partnerships with firms from 8+ countries
3 min read

WEF summit: Maharashtra govt, various global companies sign MoUs for Raigad Pen growth centre

Maharashtra govt signs MoUs with global firms at WEF to develop 'Third Mumbai' as a tech & fintech hub in Raigad's Pen tehsil.

"Envisioned as the 'Third Mumbai', the project will emerge as a next-generation hub for technology, fintech, and data centres. - CMO Release"

Davos, Jan 21

The Mumbai Metropolitan Region Development Authority, on behalf of the Maharashtra government, has signed MoUs with various global companies for the development of the growth centre in Pen tehsil of the state's Raigad district.

"CM Devendra Fadnavis witnessed the signing of the MoU. Envisioned as the 'Third Mumbai', the project will emerge as a next-generation hub for technology, fintech, and data centres, and will host India's first dedicated Global Capability Centre (GCC) district. On the occasion, CM Fadnavis extended an open invitation to global companies to consider the Raigad Pen Growth Centre as a premier business and investment destination," the CMO said in a release.

According to the CMO, the list of companies includes those from South Korea, Switzerland, the US, Finland, India, the UAE, Singapore, and others.

Fadnavis said: "Had wonderful and engaging discussion with Jessica Rosenworcel, Executive Director, MIT Media Lab, at #WEF26 in Davos. Our conversation focused on the transformative role of Digital Public Infrastructure in India and how it is enabling inclusive governance. We also discussed how these digital foundations are supporting Maharashtra's growth journey by enhancing service delivery, fostering innovation, and creating scalable solutions for the future."

"It was a pleasure interacting with Mr. Andrew Ponec, CEO of Antora Energy. We discussed thermal energy storage solutions that can convert solar and wind power into zero-carbon industrial heat and electricity, supporting Maharashtra's clean and sustainable industrial growth," he also said.

The Chief Minister said that it "was nice to catch up" with Zerodha co-founder Nikhil Kamath and they "exchanged views on geopolitics, emerging opportunities in Indian businesses, and India's expanding influence in the global economy".

In another post, he said: "Had a valuable interaction with Ms. Patricia F. Russo, Chairman of Hewlett-Packard, and Ms. Bhawna Agarwal, Senior VP and Managing Director for India, at #WEF2026 in Davos. Our discussion covered key aspects of the global technology landscape, including digitisation and the use of AI for security.It was a positive and productive discussion and I look forward for more collaboration with Maharashtra."

He also said that he "engaged in a meaningful dialogue" with Alon Stopel, Chairman of the Israel Innovation Authority, and their "discussions centred on strengthening innovation-driven partnerships, fostering sustainable and future-ready growth, and exploring opportunities for deeper collaboration in technology and R&D".

According to the CMO statement, Fadnavis and Maersk CEO Vincent Clerk had a discussion on circular economy in Mumbai Data Centre and various development projects in Maharashtra.

Fadnavis also met Finland's Minister for Foreign Trade and Development Ville Tavio, and the "interaction reinforced the strong India-Finland partnership and highlighted plans to organise a dedicated circular economy event in Mumbai, encouraging greater collaboration between Finnish and Maharashtrian companies", it added.

- IANS

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Reader Comments

P
Priya S
Impressive to see such diverse global partnerships from South Korea to the UAE. The focus on a Global Capability Centre district is a smart move. However, I really hope the infrastructure development keeps pace. We don't want another urban center struggling with traffic and water issues.
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Aman W
Discussions on zero-carbon industrial heat and circular economy are the key takeaways for me. It's good that sustainability is part of the vision from the start. Maharashtra leading the way! 🙌
S
Sarah B
As someone working in tech, a dedicated GCC district sounds promising for career opportunities. Hope they also invest in local skill development programs so that Maharashtrian youth are ready for these new jobs.
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Vikram M
MoUs are signed with great fanfare at Davos every year. The real test is execution on the ground. Let's see if this 'Third Mumbai' actually materializes efficiently and doesn't get stuck in red tape and delays like many other projects.
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Kavya N
Good to see discussions on Digital Public Infrastructure. If implemented well, it can truly improve governance and service delivery for common people. The partnership with Finland for a circular economy event is also a positive step.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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