Maharashtra Chief Minister Devendra Fadnavis used the global platform of the World Economic Forum Annual Summit 2026 to outline a sharp and expansive roadmap aimed at accelerating the state’s transformation
into a technology driven, infrastructure led and sustainability-focused economic powerhouse. Over multiple sessions and investor interactions, the Chief Minister positioned Maharashtra as a preferred global investment destination with long term policy clarity.
Innovation City Near Mumbai Airport
One of the most prominent announcements was the plan to develop a state of the art Innovation City near the Mumbai airport. Envisioned as a plug and play ecosystem, the project is designed to attract startups, global technology firms, research institutions and innovation driven enterprises. The proposed city will focus on artificial intelligence, fintech, deep tech and digital infrastructure, offering seamless business readiness and world class connectivity.
Tata Group Commits 11 Billion Dollars For Innovation City Project
Backing the Innovation City project, Tata Sons committed an investment of nearly 11 billion dollars, translating to over Rs 90,000 crore. The investment is expected to play a catalytic role in shaping the project’s infrastructure, technology backbone and employment potential. Officials indicated that the commitment reflects strong investor confidence in Maharashtra’s governance and growth trajectory.
Massive MoUs Signed on Opening Day
On the first day of the summit itself, Maharashtra secured Memoranda of Understanding of approximately Rs 14.5 lakh crore. These agreements span sectors such as data centres, logistics, urban infrastructure, financial services and clean energy. The Mumbai Metropolitan Region Development Authority alone signed 19 major MoUs aimed at strengthening logistics corridors, fintech ecosystems and large scale urban projects.
Jobs and Economic Impact
The MoUs signed on Day One are projected to generate over 15 lakh jobs across sectors, including infrastructure manufacturing, renewable energy, digital services, food processing and automobiles. The employment boost is likely to span skilled technology roles, infrastructure related work and allied services, particularly across the Mumbai Metropolitan Region and emerging growth centres.
Third Mumbai Takes Shape at Raigad Pen
Fadnavis reiterated the government’s vision for the Raigad Pen Growth Centre, referring to it as the Third Mumbai. Planned as a new age business district, the area will host global capability centres, data centres and fintech hubs, easing pressure on Mumbai while creating a modern commercial nucleus aligned with future industries.
Renewable Energy and Circular Economy Push
In line with sustainability goals, the Chief Minister announced a target to source 52 percent of Maharashtra’s total power from renewable energy by 2030. He also outlined a circular economy vision for Mumbai, focusing on waste reduction, resource efficiency and sustainable urban development, aligning the city with global climate commitments.
Healthcare and AI Focus
A MedTech roadmap was unveiled to make healthcare more affordable through advanced medical technology. Alongside this, strategic partnerships were announced to strengthen Maharashtra’s artificial intelligence ecosystem, with the aim of positioning the state as a leading AI hub in India.
Throughout the summit, Fadnavis engaged with global leaders and investors, reinforcing Maharashtra’s ambition of becoming a one trillion dollar economy driven by innovation, infrastructure and sustainability.
