22 January,2026 05:48 PM IST | Mumbai | mid-day online correspondent
Maharashtra CM Fadnavis said the agreements represent a long-term investment in Maharashtra’s future. Pic/MMRDA
The Mumbai Metropolitan Region Development Authority (MMRDA) have signed two major investment agreements worth USD 26 billion including Artificial intelligence (AI) and green industry, calling it the biggest-ever Davos success.
The deals were signed on day three of the World Economic Forum (WEF) 2026, marking a major step towards building future-ready and sustainable economic ecosystems in Maharashtra, officials said.
According to an official MMRDA statement, the agreements were signed in the presence of Chief Minister Devendra Fadnavis and form part of a record-breaking investment mobilisation at WEF 2026, where cumulative commitments to MMRDA have reached USD 226.65 billion, the highest in the Authority's 51-year history.
The two Memoranda of Understanding (MoUs) include -
- USD 11 billion partnership with the Tata Group for AI-led technology, innovation, and infrastructure
- USD 15 billion Bharat-Switzerland (B-SWISS-MMR) collaboration for sustainable industrial development
"Together, the projects aim to position the Mumbai Metropolitan Region (MMR) as a global hub for artificial intelligence, advanced manufacturing, and green industries," officials said.
MMRDA has signed 24 MoUs at WEF 2026, including 13 investment agreements and 11 strategic partnerships, securing the highest-ever foreign direct investment commitments by any parastatal agency at a single WEF event, the statement said.
Last year, the Authority had secured USD 40 billion at WEF, highlighting a sharp rise in global investor confidence in Maharashtra's growth vision.
Chief Minister Devendra Fadnavis said the agreements represent a long-term investment in Maharashtra's future.
"These partnerships will strengthen innovation, sustainability, and employment opportunities. Maharashtra is emerging as a global growth engine," he said.
Deputy Chief Minister Eknath Shinde, who is also Chairman of MMRDA, said the collaborations reflect global confidence in the state.
"By combining Swiss innovation and Indian strengths, we are creating smart, people-centric industrial ecosystems," he said.
MMRDA Metropolitan Commissioner Dr Sanjay Mukherjee said the agreements mark a shift from isolated infrastructure projects to integrated economic development.
"These investments will create quality jobs, modern infrastructure, and position MMR as a globally competitive region," he said.
- World-class AI and industrial hubs near Navi Mumbai International Airport
- Around 1.5 lakh direct and indirect jobs across AI, manufacturing, logistics, and allied sectors
- Integrated industrial parks and logistics networks
- Focus on renewable energy, R&D, tourism, and smart infrastructure
- Strengthened global investment profile for Maharashtra
- Bharat-Switzerland Industrial Collaboration
"The USD 15 billion B-SWISS-MMR project, developed with the Swiss Indian Chamber of Commerce, will cover around 5,000 acres across the MMR. It will focus on sustainable manufacturing, smart infrastructure, education, finance, and logistics," the officials said.
MMRDA will oversee land development, approvals, and infrastructure, while Swiss partners will bring technology, investment, and global best practices.
Under the USD 11 billion Tata Group MoU, a large Innovation City and Artificial intelligence (AI) data centres will be developed near the Navi Mumbai International Airport. The project will support AI, semiconductors, renewable energy, core industries, and tourism-linked economic clusters.
MMRDA will support land and infrastructure needs, while the state industries department will provide policy support and fast-track approvals.
