Maharashtra Chief Minister Devendra Fadnavis during a meeting with President and COO of Uber Andrew Macdonald, in Davos, Switzerland on January 22, 2026. Photo credit: @Dev_Fadnavis/X
Maharashtra has signed Memorandum of Understanding worth ₹30 lakh crore, Chief Minister Devendra Fadnavis said in Davos on Thursday (January 22, 2026). He added that investments worth ₹10 lakh crore were also in the pipeline. He was speaking with Maharashtra journalists via a virtual press conference from Davos on Thursday (January 22, 2026). He refuted allegations that the State government was signing MoUs with domestic companies in Davos.
“These are all toolkits which have been deployed. Their language is the same, their criticism is same. This is paid criticism. It is being done by those who are jealous of Maharashtra ‘s progress. I don’t want to get into the details of who is doing this, though I know who is behind it,” he said. The government was earlier criticised by the opposition for signing an MoU with Lodha. The company is owned by Maharashtra Cabinet Minister Mangalprabhat Lodha’s son.
Mr. Fadnavis announced circular economy model for Mumbai and India’s first Innovation City in the State.
Elaborating on the details about Foreign Direct Investments, he said, “83% of these agreements involve FDI, with investment coming from a total of 18 countries. 16% of the investment is in foreign technology partnerships.”
When asked about the success rate of his last Davos visit, he said that 75% MoUs from 2025 has fructified.
Giving a region-wise break-up of investment in Maharashtra, he said that 22% of the investment is in Konkan and MMR, 13% in Vidarbha, and 50% in other parts of the State.
“The major figures include ₹50,000 crore in North Maharashtra (Nashik, Jalgaon, Dhule, Ahilyanagar), ₹55,000 crore in Chhatrapati Sambhajinagar in Marathwada, ₹3,50,000 crore in the Konkan region, and ₹2,70,000 crore in Nagpur and Vidarbha,” he said.
Investments have been announced in sectors like quantum computing, AI, GCC, data centers, healthcare, food processing, green steel, urban development, shipbuilding, fintech, logistics, and digital infrastructure.
Innovation City
Mr. Fadnavis announced the creation of India’s first Innovation City near Mumbai with Tata Sons. “The Tata Group will be investing more than ₹1 lakh crore for this. Many other international investors will also be investing in this project,” he said.
Circular economy in Mumbai
“A circular economy will be created in Mumbai, which will address the city’s water and air pollution problems. The aim is to ensure that all types of waste are processed. This concept will later be extended to all major cities,” he said. When asked about the timelines, he said it was a long-term plan and will take a few years to roll out.
Published – January 23, 2026 09:13 am IST
