Maharashtra Chief Minister Devendra Fadnavis has presided over several agreements at the World Economic Forum (WEF) in Davos, attracting a fresh investment
for the state and deepening partnerships focused on jobs and sustainable urban development. The Maharashtra government, through the Mumbai Metropolitan Region Development Authority (MMRDA), has signed at least five memoranda of understanding (MoU) with domestic and international companies with potential investments of over $50 billion and promising employment opportunities.
This includes an agreement with Sumitomo Realty & Development, which agreed to invest $8 billion, and K Raheja Corp, which committed $10 billion. The two entities could generate an estimated 80,000 jobs and 100,000 jobs, respectively, according to a social media post by the Chief Minister.
The highest commitment came from Alta Capital together with Panchshil Realty, which signed an agreement proposing $25 billion investment that could generate up to 250,000 jobs.
IISM Global has also committed $8 billion with an employment potential of around 80,000.
Fadnavis also announced a series of strategic and knowledge partnerships. The Japan International Cooperation Agency (JICA) will serve as a strategy and policy partner, while Sembcorp Development, based in Singapore, will collaborate with the state as a knowledge partner on integrated industrial parks with low carbon emissions.
The Technical University of Munich will collaborate on sustainable urban transport systems, and the London-based Urban Futures Collective will support the development of digital twin ecosystems for Mumbai to improve sustainability, resilience, and urban livability.
Fadnavis's party BJP, recently clinched a sweeping victory in Maharashtra municipal corporations, India's richest civic body.
He, last week, hailed the Mahayuti alliance’s performance, saying winning 25 out of 29 corporations broke all past records. Fadnavis also thanked the citizens of Maharashtra for the “grand victory” and said the alliance will form 25 mayoral offices following the results.
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