Maharashtra has signed 54 Memorandums of Understanding (MoUs) worth ₹15.70 lakh crore at the World Economic Forum (WEF) in Davos, aiming to generate approximately 16 lakh jobs. The investment commitments span multiple sectors, including infrastructure, data centres, renewable energy, real estate, and artificial intelligence (AI). This marks a significant push for Maharashtra’s ambition to position itself as India’s leading investment hub.
Major investors and sectors attracting funds
Reliance Industries has committed ₹3.05 lakh crore across petrochemicals, renewable energy, bioenergy, green hydrogen, retail, data centres, telecom, and real estate. The company expects to generate around 3 lakh jobs through these projects. Amazon Web Services (AWS) will invest ₹71,795 crore in data centre development within the Mumbai Metropolitan Region (MMR), potentially creating over 83,100 jobs.
Global investment firm Brookfield has pledged ₹1,03,200 crore for infrastructure projects in the state. Other notable investors include Blackstone, Temasek Capital, K Raheja Corp, and Sumitomo Realty & Development, each committing ₹43,000 crore to Maharashtra’s infrastructure sector.
AI-powered ‘innovation city’ planned in Navi Mumbai
A major highlight of the investment announcements is the state’s plan to develop an AI-driven “innovation city” in Navi Mumbai. The proposed city aims to establish Maharashtra as a technology hub by fostering research, development, and AI-based enterprises. The initiative is expected to attract further global technology investments and create a strong ecosystem for AI adoption in India.
The Maharashtra government is also working on a comprehensive AI policy to promote innovation, workforce development, and investment in the sector. A dedicated committee has been formed to draft the policy, which is expected to be released in the next three months.
Maharashtra’s investment push at Davos
Chief Minister Devendra Fadnavis emphasised that Maharashtra had emerged as India’s data capital, with a growing focus on digital infrastructure and AI. He highlighted that 98% of the total investment secured at Davos is in the form of Foreign Direct Investment (FDI), reinforcing Maharashtra’s global appeal.
Fadnavis also addressed concerns about MoUs translating into actual investments. He stated that while, on average, 40% of MoUs materialise into real investments in India, Maharashtra has a conversion rate of 65-70%. He expressed confidence that up to 95% of the Davos MoUs would translate into actual projects, given the structured follow-up mechanisms in place.
Other states secure investments at WEF
While Maharashtra led the investment tally at Davos, other Indian states also made significant deals. Telangana secured 20 MoUs worth ₹1.79 lakh crore, generating nearly 50,000 jobs. Uttar Pradesh focused on presenting its roadmap to becoming a $1 trillion economy, while Kerala conducted over 30 one-on-one meetings to attract investors to its industrial and tourism sectors.
The event saw active participation from global companies exploring partnerships with Indian firms. Over 100 CEOs and industry leaders engaged in discussions, strengthening India’s position as a preferred investment destination.
What this means for Maharashtra’s economy
The ₹15.70 lakh crore investment commitments are expected to significantly boost Maharashtra’s economy, particularly in high-growth sectors such as technology, infrastructure, and green energy. The proposed AI city in Navi Mumbai could position Maharashtra as a leader in AI-driven innovation, attracting more multinational corporations and startups.
With a strong push for investment, job creation, and technology-led growth, Maharashtra’s participation at Davos signals a major step toward its goal of becoming a USD 1 trillion economy. The challenge now lies in effectively executing these commitments to ensure sustained economic development.
