Fadnavis Unveils ‘Innovation City’ as Maha Bags ₹14.5 Lakh Cr Investment at Davos
The World Economic Forum Annual Summit 2026 in Davos, Switzerland, has been a platform for various countries and states to showcase their economic prowess and attract investments. This year, Maharashtra, one of the most industrialized states in India, has made a significant mark at the summit. Maharashtra Chief Minister, Devendra Fadnavis, unveiled plans to develop a world-class innovation ecosystem near Mumbai, dubbed as ‘Innovation City’. This ambitious project aims to integrate global best practices, positioning Mumbai as a future-ready technology and entrepreneurship hub.
Speaking at the WEF 2026, Fadnavis emphasized the importance of innovation in driving economic growth and highlighted Maharashtra’s potential to become a leading destination for startups and entrepreneurs. The proposed Innovation City will be designed to foster a culture of innovation, providing state-of-the-art infrastructure, and facilitating collaboration between industry leaders, academics, and researchers. This initiative is expected to create a thriving ecosystem that will attract top talent, drive job creation, and contribute to the state’s economic growth.
The announcement of Innovation City has generated significant interest among investors and industry experts, with many hailing it as a game-changer for Maharashtra. The state has already secured ₹14.5 lakh crore (approximately $196 billion) investment commitments through Memorandums of Understanding (MoUs) signed at the WEF 2026. These investments are expected to be made across various sectors, including technology, manufacturing, and infrastructure, and will likely create thousands of jobs and stimulate economic activity in the state.
Fadnavis’s vision for Innovation City is built around the concept of creating a holistic ecosystem that supports the entire lifecycle of innovation, from idea generation to commercialization. The city will feature state-of-the-art facilities, including research and development centers, incubators, accelerators, and coworking spaces. It will also provide access to funding, mentorship, and networking opportunities, enabling entrepreneurs and startups to scale up their operations and achieve global success.
Maharashtra’s strategic location, with Mumbai as its capital, provides a unique advantage in terms of connectivity and access to markets. The state is already home to a thriving startup ecosystem, with many successful companies, including unicorns, operating in the region. The development of Innovation City is expected to further strengthen this ecosystem, making Maharashtra an attractive destination for investors, entrepreneurs, and talent from around the world.
The ₹14.5 lakh crore investment commitments secured by Maharashtra at the WEF 2026 are a testament to the state’s potential and the confidence that investors have in its growth story. These investments will likely have a multiplier effect, driving economic activity, creating jobs, and contributing to the state’s GDP. The investments are also expected to have a positive impact on the overall economy, as they will lead to increased economic activity, higher tax revenues, and improved infrastructure.
In conclusion, the unveiling of Innovation City by Fadnavis at the WEF 2026 is a significant development that is expected to transform Maharashtra into a hub for innovation and entrepreneurship. The state’s ability to attract ₹14.5 lakh crore investment commitments is a testament to its potential and the confidence that investors have in its growth story. As Maharashtra continues to evolve as a major economic hub, it is likely to play an increasingly important role in driving India’s economic growth and contributing to its global competitiveness.
The development of Innovation City and the investment commitments secured by Maharashtra are a positive sign for the state’s economy and a reflection of the government’s commitment to creating a favorable business environment. As the state continues to move forward on its growth trajectory, it is likely to face challenges and opportunities that will require careful planning, strategic decision-making, and effective implementation. However, with its strong foundation, skilled workforce, and favorable business environment, Maharashtra is well-positioned to become a leading destination for innovation and entrepreneurship in the years to come.
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