Maharashtra CM Devendra Fadnavis announced a state-of-the-art innovation city near Mumbai airport with a USD 11-billion Tata Group investment. At Davos 2026, MMRDA also secured USD 96 billion in MoUs, boosting jobs, startups and sustainable urban growth
CM Fadnavis with Member of the Executive Committee, WEF. (Pic/PTI)
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.
CM Fadnavis further revealed that the Tata Group will invest 11 billion dollars in this project. The project announced by Devendra Fadnavis aims to provide a "plug and play" ecosystem specifically designed to support the start-up community, as reported by news agency ANI.
Emphasising Maharashtra’s commitment to the International Solar Alliance, the Chief Minister also stated that the state is transitioning its energy grid to ensure 52 per cent of its total power is supplied by renewable sources.
Furthermore, the CM also 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 year's Davos meeting for Maharashtra as an innovation city, and we are proud we addressed it this year in Davos 26," as cited by ANI.
MMRDA secures investment commitments worth USD 96 billion at Davos
Meanwhile, the Mumbai Metropolitan Region Development Authority (MMRDA) achieved a historic milestone at the World Economic Forum (WEF) Annual Summit 2026 in Davos. The Mumbai Metropolitan Region Development Authority secured 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 done by MMRDA 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.
Furthermore, 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, Fadnavis emphasised, "The historic USD 96 billion in investments secured on the very first day of WEF 2026 is a reflection of the global investors' unwavering faith in Maharashtra's potential.
He also added, “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," as per ANI.
(With inputs from ANI)
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
