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MMRDA Signs $96 Bn MoUs at Davos, Marks Record Day 1 Haul

2026-01-21

The Mumbai Metropolitan Region Development Authority (MMRDA) marked a historic achievement on the opening day of the World Economic Forum (WEF) Annual Summit 2026 in Davos by securing investment commitments worth about Rs 8.73 trillion. The investments were formalised through the signing of 10 major Memoranda of Understanding (MoUs), setting a new benchmark for the authority’s global outreach.

According to MMRDA, the agreements are expected to generate nearly 9.6 lakh direct and indirect jobs, reinforcing the Mumbai Metropolitan Region’s position as a major talent and economic hub in India and Asia. The MoUs were exchanged in the presence of Maharashtra Chief Minister Devendra Fadnavis, with Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, representing the authority.

“The historic $96 billion in investments secured on the very first day of WEF 2026 reflects global investors’ unwavering faith in Maharashtra’s potential. These 10 MoUs are not just financial agreements; they are blueprints for ‘Mumbai 3.0’ and a key step towards our $1 trillion economy goal,” said Devendra Fadnavis, Chief Minister, Government of Maharashtra.

Highlighting the regional impact, Eknath Shinde, Deputy Chief Minister and Chairman, MMRDA, said the agreements would transform Mumbai, Thane, Kalyan and adjoining areas into a global hub for sustainable infrastructure, innovation and industrial growth. “These initiatives will generate over 9.6 lakh jobs across futuristic sectors ranging from AI and Urban Tech Stack to sports medicine and net-zero development,” he said.

Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, said the authority is building new growth ecosystems across the region. “From a FinTech Hub at Wadala to Innovation Cities in Kharbav, we are deploying a comprehensive Urban Tech Stack supported by Digital Twins to ensure data-driven and sustainable development,” he said.

The MoUs span sectors such as infrastructure, logistics, fintech, digital ecosystems, sports, education, sustainability and advanced urban technologies, underlining MMRDA’s ambition to position the region as a globally competitive metropolitan powerhouse.

News source: The Hindu

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