MMRDA signs USD 26 billion AI and green industry deals at WEF 2026

The Mumbai Metropolitan Region Development Authority MMRDA have signed two major investment agreements worth USD 26 billion including Artificial intelligence AI and green industry calling it the biggestever Davos successThe deals were signed on day three of the World Economic Forum WEF 2026 marking a major step towards building futureready and sustainable economic ecosystems in Maharashtra officials saidAccording to an official MMRDA statement the agreements were signed in the presence of Chief Minister Devendra Fadnavis and form part of a recordbreaking investment mobilisation at WEF 2026 where cumulative commitments to MMRDA have reached USD 22665 billion the highest in the Authorityrsquos 51year historyThe two Memoranda of Understanding MoUs include USD 11 billion partnership with the Tata Group for AIled technology innovation and infrastructure USD 15 billion BharatndashSwitzerland BSWISSMMR collaboration for sustainable industrial developmentTogether the projects aim to position the Mumbai Metropolitan Region MMR as a global hub for artificial intelligence advanced manufacturing and green industries officials saidRecord investmentsMMRDA has signed 24 MoUs at WEF 2026 including 13 investment agreements and 11 strategic partnerships securing the highestever foreign direct investment commitments by any parastatal agency at a single WEF event the statement saidLast year the Authority had secured USD 40 billion at WEF highlighting a sharp rise in global investor confidence in Maharashtrarsquos growth visionAgreements represent longterm investment in Maharashtrarsquos future CMChief Minister Devendra Fadnavis said the agreements represent a longterm investment in Maharashtrarsquos futureldquoThese partnerships will strengthen innovation sustainability and employment opportunities Maharashtra is emerging as a global growth enginerdquo he saidDeputy Chief Minister Eknath Shinde who is also Chairman of MMRDA said the collaborations reflect global confidence in the stateldquoBy combining Swiss innovation and Indian strengths we are creating smart peoplecentric industrial ecosystemsrdquo he saidMMRDA Metropolitan Commissioner Dr Sanjay Mukherjee said the agreements mark a shift from isolated infrastructure projects to integrated economic developmentldquoThese investments will create quality jobs modern infrastructure and position MMR as a globally competitive regionrdquo he saidKey impacts of the agreements Worldclass AI and industrial hubs near Navi Mumbai International Airport Around 15 lakh direct and indirect jobs across AI manufacturing logistics and allied sectors Integrated industrial parks and logistics networks Focus on renewable energy RampD tourism and smart infrastructure Strengthened global investment profile for Maharashtra BharatndashSwitzerland Industrial CollaborationThe USD 15 billion BSWISSMMR project developed with the Swiss Indian Chamber of Commerce will cover around 5000 acres across the MMR It will focus on sustainable manufacturing smart infrastructure education finance and logistics the officials saidMMRDA will oversee land development approvals and infrastructure while Swiss partners will bring technology investment and global best practicesInnovation partnershipUnder the USD 11 billion Tata Group MoU a large Innovation City and Artificial intelligence AIdata centres will be developed near the Navi Mumbai International Airport The project will support AI semiconductors renewable energy core industries and tourismlinked economic clustersMMRDA will support land and infrastructure needs while the state industries department will provide policy support and fasttrack approvals