Fadnavis Unveils ‘Innovation City’ as Maha Bags ₹14.5 Lakh Cr Investment at Davos
The World Economic Forum (WEF) Annual Summit 2026, held in Davos, Switzerland, has been a platform for governments, businesses, and thought leaders to come together and discuss the most pressing issues facing the world economy. This year, Maharashtra Chief Minister Devendra Fadnavis took the stage to announce a groundbreaking initiative that is set to transform the state’s economic landscape. The proposed “Innovation City” near Mumbai is poised to become a world-class innovation ecosystem, integrating global best practices and positioning Mumbai as a future-ready technology and entrepreneurship hub.
Speaking at the WEF 2026, Fadnavis unveiled the ambitious plan, which aims to create a thriving ecosystem that fosters innovation, entrepreneurship, and economic growth. The Innovation City will be designed to attract top talent, startups, and businesses from around the world, providing them with state-of-the-art infrastructure, cutting-edge technology, and a supportive environment to thrive. This initiative is expected to cement Maharashtra’s position as a leader in the Indian economy and a hub for technological advancements.
The announcement of the Innovation City comes on the heels of Maharashtra securing an impressive ₹14.5 lakh crore investment through Memorandums of Understanding (MoUs) at the WEF 2026. This massive investment commitment is a testament to the state’s attractiveness as a business destination and its potential for growth. The MoUs signed at Davos cover a wide range of sectors, including technology, manufacturing, infrastructure, and renewable energy, among others.
The proposed Innovation City will be a game-changer for Maharashtra, providing a platform for startups, entrepreneurs, and businesses to innovate, collaborate, and grow. The city will be designed to facilitate the exchange of ideas, technologies, and expertise, creating a vibrant ecosystem that drives economic growth and job creation. With its proximity to Mumbai, one of India’s most cosmopolitan cities, the Innovation City will have access to a vast pool of talent, markets, and resources, making it an ideal location for businesses to set up and thrive.
Fadnavis’s vision for the Innovation City is aligned with the state’s broader economic development strategy, which focuses on creating a business-friendly environment, promoting entrepreneurship, and attracting investments. The Maharashtra government has been working tirelessly to improve the state’s infrastructure, simplify regulatory processes, and provide incentives to businesses, making it an attractive destination for investments.
The ₹14.5 lakh crore investment commitment secured at Davos is a significant milestone for Maharashtra, demonstrating the state’s ability to attract large-scale investments and create opportunities for economic growth. The investments will be utilized to develop key sectors, including infrastructure, manufacturing, and technology, which will have a multiplier effect on the state’s economy, creating jobs, stimulating growth, and improving living standards.
The World Economic Forum provides a unique platform for governments, businesses, and thought leaders to come together and discuss the most pressing issues facing the world economy. The WEF 2026 has been a resounding success, with leaders from around the world converging to discuss topics such as sustainable development, economic growth, and technological innovation. Maharashtra’s participation in the WEF 2026 has been a significant success, with the state securing massive investments and announcing the ambitious Innovation City project.
In conclusion, the unveiling of the Innovation City and the ₹14.5 lakh crore investment commitment secured at Davos are significant milestones for Maharashtra, demonstrating the state’s potential for economic growth and its attractiveness as a business destination. The proposed Innovation City will provide a world-class ecosystem for innovation, entrepreneurship, and economic growth, positioning Mumbai as a future-ready technology and entrepreneurship hub. As the state continues to work towards creating a business-friendly environment, promoting entrepreneurship, and attracting investments, Maharashtra is poised to become a leader in the Indian economy and a hub for technological advancements.
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