Maharashtra bags MoUs for investments worth $50B at WEF
What's the story
Maharashtra Chief Minister Devendra Fadnavis has signed several deals at the World Economic Forum (WEF) in Davos, bringing new investments into the state and strengthening job creation. The state government, through the Mumbai Metropolitan Region Development Authority (MMRDA), has signed five memoranda of understanding (MoUs) with Indian and foreign firms. These MoUs are expected to bring in investments worth over $50 billion and create hundreds of thousands of jobs.
Investments
Major investments and job creation potential
The MoUs signed at the WEF include one with Sumitomo Realty & Development for an investment of $8 billion, and another with K Raheja Corp for $10 billion. These two companies are expected to create around 80,000 jobs and 100,000 jobs respectively. The biggest commitment came from Alta Capital in partnership with Panchshil Realty, which signed a deal proposing a $25 billion investment that could generate up to 250,000 jobs.
Partnership initiatives
Strategic partnerships for sustainable development
Fadnavis also announced a number of strategic and knowledge partnerships at the WEF. The Japan International Cooperation Agency (JICA) will be a strategy and policy partner, while Singapore's Sembcorp Development will be a knowledge partner on integrated low-carbon industrial parks. The Technical University of Munich will collaborate on sustainable urban transport systems, and London's Urban Futures Collective will help develop digital twin ecosystems for Mumbai to enhance sustainability, resilience, and urban livability.
Global confidence
Maharashtra's strong showing at WEF
On the first day of the WEF Annual Meeting, the Maharashtra government signed 19 MoUs worth ₹14.5 lakh crore and over 15 lakh jobs. These agreements span various sectors and highlight international confidence in Maharashtra's consumer markets, infrastructure readiness, and long-term growth fundamentals. The Chief Minister said that investors are responding positively to the state's initiatives including 'third Mumbai.'