Mumbai, Jan 20: In the presence of Chief Minister Devendra Fadnavis,the Mumbai Metropolitan Region Development Authority (MMRDA) achieved a historic milestone at the World Economic Forum (WEF) by signing
10 MoUs.
On day one of the Annual Summit 2026 these MoUs, signed by Dr. Sanjay Mukherjee, IAS, Commissioner MMRDA secured a record USD 96 billion of investment.
These partnerships focus on creating millions of jobs and a sustainable, technology-driven ecosystem that solidifies MMR as a premier global economic hub, as per the MMRDA, which released an official statement on Tuesday January 20th.
While MMRDA secured USD 40 billion (Rs 3,60,000 crore) Investment in 2025, Year 2026 has generated an unprecedented USD 96 billion (Rs 8,73,600 Crore) on the very first day.
This surge reflects global confidence in Maharashtra and MMR’s execution strength and will generate approximately 9.6 lakh direct and indirect employment redefining the Mumbai Metropolitan Region (MMR) as a hub for sustainable infrastructure and high-tech ecosystems.
A defining shift for the Mumbai Metropolitan Region
This marks a defining shift in the Mumbai Metropolitan Region’s trajectory. By securing a record USD 96 billion on day one, MMRDA has evolved from a planning authority into a global architect of innovation, its official statement reads.
These 10 MoUs represent a commitment to a holistic metropolitan rebirth, bridging the gap between world-class infrastructure and human potential.
From high-tech corridors and AI-driven logistics to the specialized Sports City and Skill-Tech University, Mumbai is being reimagined as a hub of equitable, sustainable growth.
As these projects unfold, they will deliver over 9.6 lakh jobs and a 'Mumbai in Minutes' reality, positioning the MMR as a global benchmark for how a mega-city can evolve with purpose, resilience, and a relentless focus on its citizens.
Statements from state leadership
Speaking on the exchange of these MoUs at DavosCM Fadnavis stated, “The historic USD 96 billion in investments secured on the very first day of WEF 2026 is a reflection to the global investors' unwavering faith in Maharashtra's potential. 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. By transforming the MMR into a world-class, technology-driven powerhouse, we are ensuring that Maharashtra remains the primary engine of India's growth. Following last year’s Rs 16 lakh crore success, we have set our sights even higher this year to bring life-changing infrastructure and millions of jobs to our youth."
Deputy CM and Chairman, MMRDA, Eknath Shinde stated, “ It is a historic moment for the Mumbai Metropolitan Region. With the signing of 10 MoUs at Davos 2026, MMRDA is set to transform Thane, Mumbai, Kalyan, and the surrounding regions into a global hub of sustainable infrastructure, innovation, and industrial growth. These initiatives will generate over 9.6 lakh direct and indirect jobs across diverse and futuristic sectors, from the Urban Tech Stack and AI to sports medicine and Net-Zero sustainable development, empowering local talent and providing them a platform to compete on the global stage. Beyond economic growth, these projects will enhance the quality of life for citizens, with world-class urban amenities, improved connectivity, and inclusive opportunities for all. Through MMRDA’s vision and execution, we are ensuring that the dreams of our youth translate into tangible, future-ready careers while Reshaping MMR as a benchmark for metropolitan excellence."
Reflecting on the technical and strategic significance of these global alliances, Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, said, “I am proud to be part of an organisation that ranks among the world’s top five development agencies. At MMRDA, we are creating entirely new growth ecosystems from a world-class Sports City and the IISM Global Sports Innovation and Skill-Tech University to advanced hubs for sports science, athlete development, and specialised education generating high-value employment at scale in MMR.“
Furthermore he said from the FinTech Hub at Wadala to Innovation Cities in Kharbav, MMRDA deploying a comprehensive Urban Tech Stack, supported by Digital Twins, to ensure development is data-driven, resilient, and sustainable.
This transformation is set to make Mumbai the talent capital of India and Asia, while driving sustainable development across the region, creating high-value employment and elevating the quality of life for millions.
This holistic shift spanning AI laboratories, sports medicine, and net-zero industrial clusters will ensure that the Mumbai Metropolitan Region remains a vibrant, inclusive, and globally competitive urban region.
Details of the MoU:
1) SBG Group – Total Investment - USD 45 Billion (Rs 4,09,500 Cr.)
The MoU aims to position the MMR as a globally competitive hub for logistics, industrial, and digital infrastructure, driving economic growth, connectivity, investment, talent attraction, and long-term regional development.
Development of Integrated Industrial and Digital Hubs
MMRDA and SBG Group will collaborate to plan, develop, and operate integrated logistics, industrial, and hyperscale data parks at strategic locations across the MMR.
The partnership will focus on multimodal logistics facilities; warehousing and distribution centres; e-commerce fulfilment hubs; cold-chain and agri-logistics facilities; truck terminals; value-added logistics services; manufacturing and assembly facilities; hyperscale and edge data parks; digital infrastructure hubs; and associated smart systems and utilities.
Economic Impact and Employment Generation
The collaboration is expected to facilitate approximately USD 45 billion in investment over the next 10 years generating nearly 4.5 lakh direct and indirect jobs in the MMR.
Roles and Execution
● MMRDA: facilitate land identification, statutory approvals, and the provision of trunk infrastructure.
● SBG Group: lead investment mobilisation, development, and long-term management of the projects, ensuring alignment with global standards and sustainability practices.
2) Panchshil Realty – Total Investment -USD 25 BILLION (Rs 2,27,500 Cr)
Transforming the Urban Landscape of MMR
Under this ten-year agreement, MMRDA and Panchshil Realty will collaborate on a multi-sector development strategy.
The partnership is designed to create:
● Fintech & Business Districts: A world-class fintech hub and commercial office parks to attract global financial services and technology firms.
● Integrated Townships: Mixed-use residential developments that integrate high-quality living with physical and digital infrastructure.
● Industrial & Logistics Hubs: State-of-the-art industrial clusters and multimodal logistics facilities.
Economic Impact and Job Creation
This strategic initiative is projected to attract USD 25 billion in investment over the next decade and is expected to generate nearly 2.5 lakh direct and indirect jobs across diverse sectors, including IT/ITES, Banking, Financial Services and Insurance (BFSI), construction, and supply chain management.
Roles and Execution
● MMRDA will play a pivotal role in land identification, statutory approvals, and the provision of essential trunk infrastructure.
● Panchshil Realty will spearhead the master planning, development strategy, and long-term asset management through Special Purpose Vehicles (SPVs) and global institutional partnerships.
3) K Raheja Corp Pvt. Ltd.- Total Investment - USD 10 Billion (Rs 91,000 Cr)
A Vision for Future-Ready Urban Ecosystems
The collaboration unites MMRDA’s strategic planning capability with K Raheja Corp’s three-decade legacy in delivering world-class, sustainable, and technology-driven urban developments, bringing global FDI credibility and proven execution strength.
The partnership focuses on three flagship "Innovation Cities":
●Industrial & Business Park (Kharbav, Bhiwandi): An integrated logistics hub featuring light manufacturing units, value-added processing facilities, digital logistics systems, and green, ESG-compliant infrastructure.
● FinTech & InsurTech Hub (Wadala Notified Area, Mumbai): A specialized cluster for FinTech, InsurTech, RegTech, and Cybersecurity, supported by talent skilling programs, a capital ecosystem, and executive education facilities.
● Mumbai Outdoor Sports, Gaming & AI Innovation City (MOSAIC) (Mumbai 3.0 – KSC New Town): A pioneering precinct dedicated to AI and analytics laboratories, e-sports and gaming zones, university research hubs, and media IP centers, integrated with vibrant public realms and hospitality facilities.
Economic Impact and Job Creation
This 10-year partnership is projected to be a massive engine for employment, expected to generate nearly 1 lakh (100,000) direct and indirect jobs. These opportunities will span diverse sectors including construction, digital infrastructure, corporate services, and urban management.
Roles and Execution
● MMRDA will facilitate land identification, planning approvals, trunk infrastructure, and seamless inter-agency coordination.
● K Raheja Corp will lead master planning, development, and investment mobilization, integrating global best practices in smart city solutions and urban design.
4) IISM Global – Total Investment - USD 8 Billion (Rs 72,800 Cr.)
A $8 Billion Vision for Global Sports Excellence
The project envisions an integrated Sports City spanning approximately with an estimated investment potential of around USD 8 billion over the next decade and expected to generate 80,000 jobs. This initiative is designed to:
● Position MMR as a Global Hub: Establish the region as a premier destination for sports education, sports science, athlete development, and research-driven innovation.
● Economic Growth & Employment: Generate significant direct and indirect employment across sports management, research, events, tourism, and allied services.
● Strengthen Grassroots: Foster youth development and community wellness by integrating international-standard infrastructure with advanced academic facilities.
Roles and Execution
● MMRDA will facilitate land identification and aggregation, lead statutory planning and approvals, provide trunk infrastructure including transport and utilities, and coordinate State and Central clearances along with policy support.
●Nilesh Kulkarni Foundation will spearhead the high-performance sports ecosystem, including establishing the IISM Global Sports Innovation & Skill-Tech University focused on sports medicine, coaching, performance analytics, and referee education.
5) Sumitomo Realty & Development: USD 8 Billion (Rs 72,800 Cr.)
The 10-year roadmap envisions the development of a world-class High Street District as a landmark destination that redefines Mumbai’s urban experience and reinforces BKC’s position as a global financial and commercial hub.
The integrated development includes:
● Transit-Oriented Development (TOD): Multimodal integration anchored by the High-Speed Rail hub, enabling a seamless future mobility ecosystem.
● Experiential Retail & Lifestyle: High-street retail and experiential boulevards with luxury brands and vibrant public urban spaces.
● Economic & Business Hubs: Premium office districts designed for Global Capability Centres (GCCs), corporate offices, and the BFSI sector.
● Hospitality & Tourism: Hospitality infrastructure, convention centres, and business tourism facilities for global events.
● Smart & Sustainable Infrastructure: Innovative placemaking supported by smart, sustainable digital urban systems to modernise the urban fabric.
Economic Impact and Job Creation
● High-street retail, luxury brands, and tourism.
● Corporate offices, BFSI services, and Global Capability Centres (GCCs).
● Hospitality, events, mobility, logistics, and urban services.
● It will generate 80,000 Direct and Indirect Jobs
Role & Execution
● MMRDA will facilitate land identification, planning permissions, provision of trunk infrastructure, and inter-agency coordination.
● Sumitomo Realty & Development will lead capital mobilisation, investment structuring, master planning, development, and long-term asset management, adopting global best practices in real estate and urban development.
6) University of California, Berkeley
The 5-year strategic partnership highlights the importance of educational, cultural, and scientific collaboration between leading global academic institutions and public authorities.
The collaboration will focus on key priority areas:
● Advanced Technology: Applied research in Data Analytics and Artificial Intelligence (AI) for smarter urban management.
● Sustainability & Green Tech: Joint research in Clean Technology, Circular Economy models, and climate-resilient urban transformation.
● Policy & Entrepreneurship: Innovation in policy implementation and development of entrepreneurial ecosystems through platforms such as the Berkeley Innovation Forum.
● Capacity Building: Joint workshops, seminars, and specialised training programmes to empower the next generation of urban planners.
Fostering Global Exchange & Research Excellence
The agreement establishes a strong framework for human capital and knowledge exchange, including:
● Scholarly Mobility: Exchange of faculty, researchers, students, postdoctoral scholars, and visiting government fellows.
● Knowledge Sharing: Access to academic publications and specialised knowledge resources.
● Advisory Support: Leveraging UC Berkeley’s global academic expertise for advisory inputs and peer-review support to MMRDA.
Strengthening the Innovation Ecosystem
Beyond research collaboration, the partnership aims to generate tangible economic and structural outcomes through:
● Research & Venture Linkages: Direct engagement with UC Berkeley’s research centres and affiliated venture funds.
● Incubation & Accelerators: Development of accelerator programmes, hackathons, and specialised training centres focused on analytics and AI.
● Investment Ecosystem: Strengthening the MMR’s positioning as a global destination for innovation-led and high-technology investments.
Through this collaboration, MMRDA positions the Mumbai Metropolitan Region as a global laboratory for urban excellence, bridging Silicon Valley’s innovation-driven ecosystem with Mumbai’s large-scale, infrastructure-led development model.
7) Japan International Cooperation Agency (JICA)
The MoC reflects a shared intent to develop a unified, interoperable digital architecture for urban mobility across the Mumbai Metropolitan Region (MMR).
The collaboration aims to transform:
● Multimodal Transport Systems: Integration of multiple transport modes into a single digital ecosystem.
● Data-Driven Planning: Use of advanced analytics to enable efficient urban development and smart transport operations.
● Commuter Experience: Technology-enabled enhancements to daily travel for millions of Mumbaikars.
● Resilience: Development of safe, climate-resilient, and future-ready transport governance aligned with global benchmarks.
● Infrastructure-Led Development: Support to MMRDA’s mandate for strategic, infrastructure-driven urban growth.
Roles and Execution
Under this cooperation, both organisations will engage in continuous knowledge exchange, consultations, and joint dialogue, creating a framework for sustained institutional engagement. The partnership will leverage JICA’s global expertise through its Digital Transformation (DX) Lab in the following areas:
● Transport Digital Twins: Virtual modelling of transport networks for real-time simulation and planning
● Open Mobility Data Platforms: Enabling transparency, innovation, and data-driven decision-making
● Cybersecurity: Ensuring robust data protection standards for public digital infrastructure
● Capacity Building: Equipping local authorities with skills to manage next-generation digital systems
Strategic Significance
● The partnership marks a key milestone in India–Japan cooperation on Digital Public Infrastructure (DPI), integrating Japan’s technological expertise with Maharashtra’s infrastructure-led development vision to position the MMR as a global benchmark for smart, sustainable, and inclusive transport systems.
● The Memorandum is based on mutual benefit and reciprocity, remains valid for one year unless extended by mutual consent, and establishes a structured framework for long-term engagement, continuous knowledge sharing, and capacity building across urban mobility initiatives.
8) Sembcorp Development Ltd., Singapore
The partnership will initially explore transformative opportunities across key strategic corridors in the MMR, including:
● Kharbav Integrated Industrial and Logistics Business Park.
● SPA for MMR North – Palghar (strategically located near the upcoming Vadhvan Port).
● SPA for MMR South – Raigad (benefiting from proximity to Alibaug and the Atal Setu).
● Other mutually agreed locations across the region.
Sustainable and Smart Industrial Ecosystems
Under the terms of the MoU, both agencies will collaborate on the planning, feasibility assessment, site planning, infrastructure and utilities readiness, environmental and social assessments, and economic and financial viability, while enabling the integration of green and resilient industrial ecosystems. and conceptualization of large-scale integrated industrial parks.
These hubs will be defined by:
● Low-Carbon Utilities: Integration of green and resilient energy solutions.
● Sustainable Infrastructure: Smart industrial solutions that meet global benchmarks.
● Environmental Stewardship: Rigorous environmental and social assessments to ensure long-term viability.
Roles & Execution.
● MMRDA will facilitate land identification and aggregation, manage statutory clearances, provide essential trunk infrastructure, and ensure seamless inter-agency coordination.
● Sembcorp will bring international expertise in industrial master planning, sustainable utilities, investment structuring, and the development of low-carbon industrial ecosystems.
Economic Impact and Job Creation
● The collaboration aims to attract long-term FDI and generate significant direct and indirect employment, positioning the Mumbai Metropolitan Region as a global hub for sustainable manufacturing and innovation-led industrialisation while laying the foundation for a resilient, green economic future for Maharashtra.
9) Technical University of Munich (TUM), Germany
A Framework for Academic and Technical Excellence
The partnership creates a structured technical cooperation framework between MMRDA and TUM’s globally renowned academic chairs, leveraging their excellence in engineering and sustainability research.
The collaboration will leverage the specialized expertise of:
● The Chair of Traffic Engineering and Control
● The Chair of Transportation Systems Engineering
● The Professorship for Design and Operation of Public Rail Transport Systems
Together, these entities will support the planning, engineering, and implementation of future-ready urban and mobility solutions tailored to the unique challenges of the MMR, one of the world’s fastest-growing metropolitan regions
● Climate-Resilient Land-Use Planning: Building infrastructure that can withstand the environmental challenges of the future.
● Sustainable & Low-Emission Mobility: Developing systems that reduce the carbon footprint while increasing efficiency.
● Multimodal Transport Networks: Enhancing seamless connectivity across rail, road, and water.
● Transit-Oriented Development (TOD): Designing urban hubs around transport nodes to reduce congestion and improve quality of life.
● Data-Driven Modelling: Using advanced urban and mobility modelling to make informed, scientific planning decisions.
Knowledge Exchange for Global-Scale Urban Solutions
The Technical University of Munich brings interdisciplinary expertise to support Mumbai’s long-term urban transformation through a partnership that goes beyond research to focus on capacity building, knowledge exchange, and pilot initiatives.
These pilots will demonstrate scalable, replicable solutions that address rapid urbanization and climate risk, offering models for megacities worldwide.
Marking a key global milestone, the collaboration strengthens international academic and institutional ties while reinforcing a shared commitment to resilient, inclusive, and sustainable metropolitan development, positioning the Mumbai Metropolitan Region as a global leader in innovation-led urban planning.
10) Urban Feature Collective, London
The Urban Futures Collective (UFC) brings world-class academic expertise to Mumbai through a consortium of leading global research institutions, including the MIT Media Lab, IT University of Copenhagen, TU Delft, UCL London, Imperial College London, and HafenCity University Hamburg.
Together, they offer advanced capabilities in:
● Geospatial Modelling & Smart City Systems
● Digitally Assisted Metropolitan-Scale Planning
● Scenario-Based Decision-Making
● Climate-Adaptive Infrastructure & Active Mobility Solutions
The Digital Twin Strategy: Evidence-Based Governance
● Establishes a long-term commitment to data-driven urban planning through a comprehensive digital twin framework.
● MMRDA will lead planning integration, coordinate urban data, and ensure alignment with local governance systems.
● UFC and its Consortium will design and implement open-source digital twin platforms by integrating multi-source urban data to create a virtual replica of the Mumbai Metropolitan Region.
● Institutional Capacity Building will be a core focus, embedding technology-enabled planning within Mumbai’s governance ecosystem.
● Open-source digital twins will enable transparent, inclusive, and participatory decision-making by allowing urban scenarios to be tested virtually before implementation, ensuring equitable and climate-resilient growth.
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Impact: Improving Liveability and Resilience
This collaboration represents a shift toward equitable, technology-enabled urban governance. By digital twins, MMRDA will be able to better predict urban outcomes, optimize infrastructure, and promote inclusive city-building.
The initiative is designed to:
● Enable climate-resilient growth through predictive modelling.
● Enhance active mobility and pedestrian-centric urban design.
● Strengthen the MMR’s position as a global leader in technology-enabled urbanism
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