Maharashtra Secures 83% Direct FDI in Davos Deals, Says Fadnavis

Maharashtra Chief Minister Devendra Fadnavis announced on Thursday that 83 per cent of the memoranda of understanding (MoUs) signed at the Davos Summit 2026 involve direct foreign investments, while 16 per cent pertain to foreign technology collaborations, as reported by news agency ANI.

He said investments have been secured from 18 countries, including the United States, the United Kingdom, Singapore, Japan, Switzerland, Sweden, the Netherlands, Norway, Italy, Germany, France, Austria, the UAE, Spain, Canada, and Belgium, reported ANI.

According to the Maharashtra Chief Minister, the proposed investments span industrial, services, agriculture, and technology sectors. He added that Maharashtra has consistently achieved a 75 per cent MoU conversion rate, with last year's agreements implemented at a similar pace, reported ANI.

Fadnavis noted that most investments are expected to materialise over a period of three to seven years. MoUs have been signed with leading global and Indian firms such as SBG, Brookfield, ArcelorMittal, Fineman Global, Essar, Skoda Auto, Volkswagen, STT Telemedia, Tata Group, Adani Group, Reliance, JBL, Coca-Cola, Bosch, CapitaLand, and Iron Mountain. While some of these are Indian companies, he said they operate and invest across more than 165 countries worldwide, reported ANI.

Key focus sectors for these investments include quantum computing, artificial intelligence, global capability centres, data centres, healthcare, food processing, green steel, urban development, shipbuilding, fintech, logistics, and digital infrastructure.

The Chief Minister also announced that Maharashtra will develop India's first Innovation City near Mumbai in partnership with the Tata Group. Detailed planning for the project is expected to be completed within six to eight months. Discussions on the concept began at last year's Davos, followed by further consultations with Tata Sons Chairman N. Chandrasekaran. The Tata Group is expected to invest over Rs 1 lakh crore in the project, along with participation from several international investors, reported ANI.

In addition, a comprehensive circular economy model will be implemented in Mumbai to address water, air, and waste management challenges. All categories of waste will be scientifically processed, with visible impact anticipated within two to three years before the model is extended to other major cities.

Fadnavis further announced the Raigad-Pen Growth Centre, which is set to be developed as a major business district. Investments worth Rs 1 lakh crore have already been secured for the project, reported ANI.