Davos [Switzerland], January 20 (ANI): The Mumbai Metropolitan Region Development Authority (MMRDA) achieved a historic milestone on the World Economic Forum (WEF) Annual Summit 2026 in Davos, securing funding commitments value USD 96 billion (Rs 8.73 lakh crore) on the very first day by way of the signing of 10 main Memoranda of Understanding (MoUs).
The landmark agreements are anticipated to generate roughly 9.6 lakh direct and oblique jobs, positioning the Mumbai Metropolitan Region (MMR) because the expertise capital of India and Asia.
The MoUs have been signed within the presence of Chief Minister Devendra Fadnavis, with Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, representing the authority.
Speaking on the trade of those MoUs at Davos 2026, Chief Minister, Devendra Fadnavis stated, ‘The historic USD 96 billion in investments secured on the very first day of WEF 2026 is a mirrored image to the worldwide buyers’ unwavering religion in Maharashtra’s potential. These 10 MoUs are usually not simply monetary agreements; they’re the blueprints for ‘Mumbai 3.0′ and the important thing to accelerating our march in direction of the USD 1 trillion economic system milestone.’
‘By remodeling the MMR right into a world-class, technology-driven powerhouse, we’re making certain that Maharashtra stays the first engine of India’s progress. Following final 12 months’s Rs 16 lakh crore success, now we have set our sights even increased this 12 months to carry life-changing infrastructure and thousands and thousands of jobs to our youth,’ he added.
Deputy Chief Minister and Chairman, MMRDA, Eknath Shinde stated, ‘Today marks a historic second for the Mumbai Metropolitan Region. With the signing of 10 MoUs at Davos 2026, MMRDA is ready to rework Thane, Mumbai, Kalyan, and the encircling areas into a worldwide hub of sustainable infrastructure, innovation, and industrial progress. These initiatives will generate over 9.6 lakh direct and oblique jobs throughout various and futuristic sectors, from the Urban Tech Stack and AI to sports activities medication and Net-Zero sustainable growth, empowering native expertise and offering them a platform to compete on the worldwide stage.’
‘Beyond financial progress, these initiatives will improve the standard of life for residents, with world-class city facilities, improved connectivity, and inclusive alternatives for all. Through MMRDA’s imaginative and prescient and execution, we’re making certain that the goals of our youth translate into tangible, future-ready careers whereas Reshaping MMR as a benchmark for metropolitan excellence,’ he added.
Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, stated, ‘I’m proud to be a part of an organisation that ranks among the many world’s high 5 growth companies. At MMRDA, we’re creating totally new progress ecosystems from a world-class Sports City and the IISM Global Sports Innovation and Skill-Tech University to superior hubs for sports activities science, athlete growth, and specialised training producing high-value employment at scale in MMR.’
‘From the FinTech Hub at Wadala to Innovation Cities in Kharbav, we’re deploying a complete Urban Tech Stack, supported by Digital Twins, to make sure growth is data-driven, resilient, and sustainable. This transformation is ready to make Mumbai the expertise capital of India and Asia, whereas driving sustainable growth throughout the area, creating high-value employment and elevating the standard of life for thousands and thousands. This holistic shift spanning AI laboratories, sports activities medication, and net-zero industrial clusters will be certain that the Mumbai Metropolitan Region stays a vibrant, inclusive, and globally aggressive city area,’ he added.
The agreements span infrastructure, logistics, fintech, digital ecosystems, sports activities, training, sustainability, and superior city applied sciences.
MMRDA signed an MoU value USD 45 billion with SBG Group to develop built-in logistics, industrial and digital infrastructure hubs throughout MMR, which is anticipated to generate 4.5 lakh jobs over 10 years.
Panchshil Realty (USD 25 billion) will create fintech districts, built-in townships, and industrial-logistics hubs, producing 2.5 lakh jobs.
Further, Ok Raheja Corp (USD 10 billion) will develop three ‘Innovation Cities’ centered on logistics, fintech, AI, gaming, and sports activities innovation, creating 1 lakh jobs.
IISM Global (USD 8 billion) will set up a global-standard built-in Sports City and Sports Innovation & Skill-Tech University, producing 80,000 jobs.
Sumitomo Realty & Development (USD 8 billion) will develop a world-class High Street District and transit-oriented growth at BKC, creating 80,000 jobs.
MMRDA additionally signed strategic information and expertise partnerships with main world establishments.
An MoU was signed with University of California, Berkeley for collaboration in AI, sustainability, city coverage, and innovation ecosystems; Japan International Cooperation Agency (JICA) for a unified digital structure for multimodal city mobility and transport digital twins.
Further, MoU was additionally signed with Sembcorp Development Ltd., Singapore for sustainable, low-carbon industrial ecosystems throughout strategic corridors in Palghar, Raigad, and Kharbav.
MMRDA signed MoU with Technical University of Munich (TUM), Germany for superior mobility engineering, climate-resilient planning, and transit-oriented growth with Urban Futures Collective, London, together with a worldwide educational consortium together with MIT Media Lab and UCL, to develop open-source digital twins for evidence-based metropolitan governance. (ANI)