Maharashtra Secures $96 Billion Investment at World Economic Forum

At the World Economic Forum held in Davos on January 21, 2026, Maharashtra’s Chief Minister Devendra Fadnavis announced significant investment commitments totaling USD 96 billion for the state. This announcement coincides with the unveiling of the new Raigad Pen Growth Centre, a smart city located near the upcoming Mumbai airport, designed to attract foreign investment and foster economic growth.

Fadnavis emphasized that Maharashtra is focusing not only on the volume of Memoranda of Understanding (MoUs) but also on the sectors involved and the transfer of knowledge and technology. He stated, “We are looking at how knowledge and technologies are transferred and how Foreign Direct Investment (FDI) comes.” The Chief Minister expressed confidence that the new city would become a hub for Global Capability Centres (GCCs) and FinTech companies.

Investment Boost and Job Creation

The Chief Minister highlighted the collaboration between the private sector and the Mumbai Metropolitan Region Development Authority (MMRDA) in creating a new business district. Fadnavis noted that the investment is expected to generate approximately 960,000 direct and indirect jobs, confirming Maharashtra’s status as a key driver of India’s economy.

Fadnavis remarked on the importance of strategic partnerships, citing recent agreements with prestigious institutions such as the University of California, Berkeley and the Massachusetts Institute of Technology (MIT). These partnerships aim to enhance knowledge sharing and technology implementation, particularly in the MedTech sector, which Fadnavis described as vital for reducing healthcare costs in India.

Focus on MedTech and Healthcare Access

In his address, Fadnavis pointed out that tackling non-communicable diseases is a major challenge for India’s healthcare system. He stated, “If we have investments in MedTech and create a pool of trained health workers, we can substantially reduce costs and provide universal access.” This focus on MedTech aligns with Maharashtra’s objectives to improve healthcare outcomes and make innovative technologies available to all citizens.

The historic investment commitment made on the first day of the WEF is seen as a testament to global investors’ confidence in Maharashtra’s potential. Fadnavis remarked, “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.”

With plans to transform the Mumbai Metropolitan Region into a world-class, technology-driven powerhouse, Maharashtra aims to build on the success of last year, which saw investments of INR 16 lakh crore. The Chief Minister is optimistic about the future, stating that the focus remains on delivering impactful infrastructure projects that create millions of jobs for the state’s youth.

The developments at the World Economic Forum signal a promising outlook for Maharashtra. As the state continues to attract diverse investments, it reinforces its position as a critical economic engine for India, driving growth and innovation across various sectors.