In a bold move to supercharge Maharashtra’s economy, Chief Minister Devendra Fadnavis unveiled plans for a cutting-edge ‘Innovation City’ near Navi Mumbai during the World Economic Forum in Davos. Speaking to reporters on the sidelines of the prestigious global gathering, Fadnavis highlighted the state’s ambition to foster groundbreaking innovation and attract massive investments.
The announcement was made in front of 450 investors from across the globe, many of whom expressed keen interest in the project. Leading the charge is the Tata Group, committing a staggering Rs 1 lakh crore (approximately $11 billion) to develop this hub. This includes a state-of-the-art data center, positioning the city as a global innovation ecosystem right in the heart of Mumbai’s vicinity.
Fadnavis emphasized that the Innovation City will enable a seamless ‘plug-and-play’ environment for innovators worldwide. ‘Our goal is to transform Mumbai into a destination where anyone can instantly tap into world-class innovation infrastructure,’ he stated. This initiative aligns with Maharashtra’s broader vision to accelerate economic growth through technology and creativity.
Adding to the transformative agenda, the CM also declared Mumbai’s shift towards a circular economy model. This comprehensive plan addresses solid waste, liquid waste, medical waste, e-waste, construction debris, and more—converting them into valuable resources. Such measures promise to enhance air and water quality, solidifying Mumbai’s status as India’s economic powerhouse and a model sustainable metropolis.
The announcements come at a pivotal time, as global markets grapple with uncertainties from US tariffs and geopolitical shifts. With Europe viewing India as a reliable partner, these developments underscore Maharashtra’s proactive stance in attracting international collaborations and investments.