MMRDA, World Economic Forum forge historic memorandum of collaboration

The Mumbai Metropolitan Region Development Authority MMRDA has signed a Memorandum of Collaboration MoC with the World Economic Forum WEF MMRDA is the first parastatal agency to sign such an agreement with WEF the authority stated on ThursdayThis partnership represents a bold step towards realizing Maharashtras vision of becoming a 1 trillion economy while setting global standards for urban development MMRDA stated in a press releaseWEF Founder and Executive Chairman Professor Klaus Schwab signed the MoC during his first visit to Maharashtra in 45 years According to MMRDA the MoC focuses on advancing sustainable urban and infrastructure development in the Mumbai Metropolitan Region MMR creating a framework for continuous dialogue and collaboration between the two organisationsMMR currently contributes 140 billion to Indiarsquos GDP This figure is expected to reach 300 billion by 2030 The collaboration with WEF is likely to leverage MMRDArsquos leadership in executing largescale infrastructure projectsWEFrsquos extensive network across 130 cities and 185 business partners will provide MMRDA with cuttingedge solutions for climateresilient sustainable and inclusive growth This partnership aims to position MMR as a global hub for commerce investment and livability fostering innovation in social digital and physical infrastructureThe MoC also aligns with Maharashtras roadmap towards a 1trillion economy and supports the statersquos ambitious climate goals of achieving near netzero emissions by 2047 Key focus areas include public transportation affordable housing logistics green infrastructure and the integration of AI investmentsThe collaboration is expected to create millions of jobs in technology finance healthcare education and logistics sectors Additionally this initiative will bolster Maharashtrarsquos economy by promoting real estate manufacturing and services positioning the region as a leader in sustainable inclusive and resilient urban developmentThe MoC is expected to enhance MMRs global competitiveness by facilitating the exchange of best practices and technologies between Indian and international businesses With an emphasis on promoting startups the fintech sector and sustainable infrastructure this collaboration will attract global talent and investments particularly in the finance and services sectorsMMRDA Metropolitan Commissioner Dr Sanjay Mukherjee has been coordinating with the NITI Aayog for implementing its recommendations for MMR Currently more than Rs 3 lakh crore worth of infrastructure projects are underway in the region This MoC will further boost these efforts promoting economic inclusivity and creating significant opportunities for global conferences exhibitions and trade events ultimately enhancing Maharashtrarsquos position as a global leader in business innovation and sustainability MMRDA statedDuring the collaboration Professor Schwab said ldquoI deeply appreciate the signing of this Memorandum of Collaboration with MMRDA This partnership injects an essential international dimension into the regionrsquos growth plan As I envision the future I see Mumbai emerging as one of the seven or eight truly global cities that matter standing alongside hubs like Singapore London and New York I am confident that through strong implementation Mumbai will achieve this remarkable transformationrdquo