In a landmark moment at the World Economic Forum (WEF) 2026 in Davos, the Mumbai Metropolitan Region Development Authority (MMRDA) sealed two massive investment memorandums of understanding worth $26 billion. The signing took place under the watchful eyes of Maharashtra Chief Minister Devendra Fadnavis, marking a pivotal step in transforming Mumbai into a global hub for advanced manufacturing, AI, and sustainable industry.
The first MoU, valued at $11 billion, partners MMRDA with the Tata Group to build an AI-driven innovation city near the Navi Mumbai International Airport. This ambitious project promises to fuse cutting-edge technology with infrastructure, fostering breakthroughs in digital capabilities and research. Meanwhile, the second $15 billion agreement under India-Switzerland collaboration focuses on sustainable industrial growth, integrating Swiss expertise in green tech and world-class infrastructure.
These deals are part of a staggering $226.65 billion in total investment commitments secured by MMRDA over three days at WEF— a record for any semi-government entity in a single session. This surge dwarfs last year’s $40 billion haul, achieved through 24 MoUs comprising 13 investments and 11 strategic partnerships.
Chief Minister Fadnavis hailed the partnerships as a cornerstone of Maharashtra’s economic renaissance. ‘This isn’t just about buildings; it’s a long-term bet on our youth, our economy, and Maharashtra’s role as a global growth engine,’ he declared. The initiatives are set to unlock new industrial zones, generate high-quality jobs, and position the Mumbai region as a competitive force on the world stage.
Deputy Chief Minister and MMRDA Chairman Eknath Shinde emphasized the global trust in MMRDA’s vision. ‘These pacts reflect unwavering confidence in our blueprint for people-centric industrial ecosystems,’ he said. Metropolitan Commissioner Dr. Sanjay Mukherjee added that the deals signal a shift from isolated projects to an integrated economic framework, blending AI, renewables, logistics, and tourism for sustainable prosperity.