Maharashtra Chief Minister Devendra Fadnavis has unveiled plans to develop a cutting-edge “innovation city” near Mumbai’s airport, aimed at fostering the growth of new businesses. The project will see an $11 billion investment from the Tata Group and is designed to offer a “Plug and Play” ecosystem tailored for start-ups.
Highlighting the state’s commitment to renewable energy, Mr. Fadnavis noted that Maharashtra is modernising its power grid to ensure that 52% of its electricity comes from renewable sources, in line with the goals of the International Solar Alliance.
The Chief Minister also shared a comprehensive vision for a circular economy in Mumbai, promoting sustainable urban development to transform the city into a greener financial hub.
In parallel, the Mumbai Metropolitan Region Development Authority (MMRDA) marked a historic achievement at the World Economic Forum (WEF) Annual Summit 2026 in Davos, securing investment commitments worth $96 billion (₹8.73 lakh crore) on the summit’s first day. These were formalised through 10 major Memoranda of Understanding.
The agreements are expected to generate around 960,000 direct and indirect jobs, further positioning the Mumbai Metropolitan Region as a leading talent hub for India and Asia.
