Fadnavis Unveils ‘Innovation City’ as Maha Bags ₹14.5 Lakh Cr Investment at Davos
In a significant development, Maharashtra Chief Minister Devendra Fadnavis announced the state’s plans to develop a world-class innovation ecosystem near Mumbai, dubbed as ‘Innovation City’, at the World Economic Forum Annual Summit 2026 in Davos. This ambitious project aims to position Mumbai as a future-ready technology and entrepreneurship hub, integrating global best practices to create a thriving ecosystem for startups, entrepreneurs, and businesses.
Speaking at the prestigious forum, Fadnavis highlighted the state’s commitment to fostering innovation and entrepreneurship, stating that the proposed Innovation City will be designed to provide a comprehensive platform for startups, research institutions, and industries to collaborate and drive growth. The city will be equipped with state-of-the-art infrastructure, including cutting-edge research facilities, incubation centers, and innovation labs, to support the development of new technologies and business models.
The announcement comes on the heels of Maharashtra securing an impressive ₹14.5 lakh crore investment through Memoranda of Understanding (MoUs) at the World Economic Forum 2026. This significant investment pledge is a testament to the state’s growing reputation as a hub for business and innovation, and is expected to generate substantial employment opportunities and drive economic growth in the region.
The proposed Innovation City is envisioned as a hub for innovation and entrepreneurship, where startups, entrepreneurs, and businesses can come together to develop new ideas, products, and services. The city will be designed to provide a supportive ecosystem for innovation, with access to funding, mentorship, and networking opportunities. The state government plans to provide incentives and support to startups and entrepreneurs, including funding, tax breaks, and regulatory support, to encourage innovation and entrepreneurship.
The development of Innovation City is expected to have a significant impact on the state’s economy, with the potential to create thousands of jobs and generate substantial revenue. The city will also provide a platform for Indian startups to showcase their products and services to a global audience, helping to establish India as a major player in the global innovation ecosystem.
Maharashtra’s commitment to innovation and entrepreneurship is reflected in its participation at the World Economic Forum 2026, where the state has been actively engaging with global business leaders, investors, and policymakers to showcase its potential as a hub for business and innovation. The state’s delegation, led by Chief Minister Fadnavis, has been holding meetings with top business leaders and investors, highlighting the state’s strengths and opportunities for investment.
The World Economic Forum 2026 has provided a platform for Maharashtra to showcase its capabilities and attract investment, with the state’s delegation holding meetings with top business leaders and investors. The forum has also provided an opportunity for the state to engage with global thought leaders and experts, and to learn from best practices and experiences from around the world.
In conclusion, the announcement of Innovation City and the securing of ₹14.5 lakh crore investment through MoUs at the World Economic Forum 2026 are significant developments for Maharashtra, highlighting the state’s commitment to innovation and entrepreneurship. The proposed Innovation City has the potential to establish Mumbai as a future-ready technology and entrepreneurship hub, and the state’s participation at the World Economic Forum 2026 has provided a platform for Maharashtra to showcase its potential as a hub for business and innovation.
As the state moves forward with the development of Innovation City, it is expected to have a significant impact on the state’s economy and reputation as a hub for innovation and entrepreneurship. With the support of the state government and the investment community, Maharashtra is poised to become a major player in the global innovation ecosystem, and the proposed Innovation City is a significant step towards achieving this goal.
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