Maharashtra signs 19 MoUs worth Rs 14.5 lakh cr on first day at Davos

During his previous visit to Davos in 2025, Maharashtra had received investment commitments worth Rs 16 lakh crore.

Details shared by the CMO show that several large investment proposals were finalised on the first day. Sumitomo Realty and Development committed an investment of $8 billion with an employment potential of 80,000 jobs. K Raheja Corp signed an MoU involving $10 billion in investment and 1,00,000 jobs, while Alta Capital and Panchshil Realty committed $25 billion with a projected employment generation of 2,50,000 jobs. IISM Global committed $8 billion with employment potential of 80,000 jobs.

The state government also entered into strategic and knowledge partnerships with global institutions. Japan International Cooperation Agency JICA was signed on as a strategy and policy partner, while Sembcorp Development Ltd of Singapore will act as a knowledge partner for integrated industrial parks with low carbon emissions. The Technical University of Munich Germany partnered with the state on sustainable urban transport systems, while Urban Futures Collective London will work with professors from leading global universities to create digital twin ecosystems of Mumbai aimed at enhancing sustainability resilience and urban livability.

In the steel sector, the Maharashtra government signed an MoU with Surjagad Ispat Ltd for the tribal region of Gadchiroli in Vidarbha, involving investments worth Rs 20,000 crore and a commitment to generate 8,000 jobs.

Separately, an agreement between the state government, MMRDA and SBG Group in the logistics sector for Mumbai and the Mumbai Metropolitan Region (MMR) is expected to bring in investments worth $20 billion and generate 4.5 lakh jobs.

Earlier in the day, Fadnavis met Juvencio Maeztu CEO and president of Ingka Group IKEA Retail at the Congress Centre at the WEF in Davos.

“It was nice to know about IKEA’s plans for India and he thanked us for the support by GoM for their business in Maharashtra. Very happy to hear from him IKEA’s plans for large-scale investment and expansion in Maharashtra,” the Chief Minister said.

Fadnavis also held discussions with Jeff Merritt, Head of Urban Transformation and Member of the Executive Committee of the World Economic Forum. The talks focused on global industrial shifts and the role of sustainable innovation in shaping future urban and industrial development.

A sizeable chunk of deals were signed with the MMRDA, with 10 MoUs worth Rs 8.73 crore in investments. Signed by Sanjay Mukherjee, MMRDA chief, with Sumitomo Realty & Development (Rs 72,800 crore), the deal includes a 10-year plan for a high street district in BKC, where the bullet train station is being constructed. With luxury brands, corporate offices, and hotels, it is estimated to generate 80,000 direct and indirect jobs.

With Panchshil Realty (Rs 2.27 crore), there are plans for a world-class fintech hub, commercial office parks, townships, industrial clusters and logistics facilities. An industrial and business park in Kharbav, Bhiwandi; Fintech and cybersecurity in the Wadala Notified Area; a Mumbai Outdoor Sports, Gaming & AI Innovation City (MOSAIC) in Mumbai 3.0, dedicated to AI, e-sports and gaming zones and media IP centres are on the cards with K Raheja Corp Pvt Ltd.

With IISM Global, a sports city is being planned to become the hub of sports education, science and athlete development. For collaboration in research in the fields of AI, sustainability, policy and student and faculty exchange, a 5-year strategic partnership was signed with University of California, Berkeley. Multiple SPAs are being planned, one in Palghar near the upcoming Vadhavan port and one in Raigad near Alibaug and the Atal Setu, are planned with Sembcorp Development Ltd, Singapore.

Towards knowledge exchange looking at traffic and transport, a partnership with the Technical University of Munich (TUM), Germany, will leverage their speciality in transport. Similarly, with the Urban Feature Collective, London, a consortium of research institutions, will aid in urban planning with data and modelling.