Davos

Maharashtra Chief Minister Devendra Fadnavis on Wednesday said the state’s participation in the World Economic Forum annual meeting in Davos is a strategic effort to draw global knowledge, advanced technology and foreign investment to India, with a strong focus on Maharashtra.

On the second day of the visit, the state government announced the Raigad-Pen Growth Centre as the first city under the ambitious Third Mumbai project.

Chief Minister Fadnavis said several strategic Memoranda of Understanding were signed during the visit, including technical cooperation agreements with leading global institutions such as the University of California, Berkeley, Technical University of Munich, Urban Futures Collective of London, ICCI of Italy, A*STAR Tuning Institute, the Norwegian Geotechnical Institute and Singapore-based Surbana Jurong. These collaborations focus primarily on urban planning and city development.

He said the agreements will help Maharashtra not only attract investment but also gain access to global expertise and technology, enabling large-scale industrial development across sectors. Partnerships in urban planning and transport, he added, will strengthen city infrastructure and improve transport systems.

The Chief Minister said the Davos meetings have been instrumental in securing commitments related to foreign direct investment, knowledge transfer and advanced technologies, particularly in urban development and transport management.

He also highlighted discussions on strengthening healthcare delivery in the state, noting that constructive deliberations on medical technology led to the formulation of a healthcare roadmap. Efforts are underway to build a robust MedTech startup ecosystem in Maharashtra, supported by agreements with leading global companies in the sector.

Fadnavis said the Raigad-Pen Growth Centre will be developed around 15 to 20 kilometres from the Navi Mumbai airport. With long-pending approvals now cleared, the project has been formally announced as the first city of Third Mumbai.

The proposed city will follow a “plug-and-play” model, allowing businesses to begin operations immediately. It will be India’s first such project developed through a public-private partnership involving the state government, MMRDA and private developers. Envisioned as a new business district, the centre is expected to generate high-quality employment and create ecosystems for Global Capability Centres and fintech firms, similar to Mumbai’s Bandra-Kurla Complex.

Following the announcement, memoranda of understanding worth nearly ₹1 lakh crore were signed. Several global companies have expressed strong interest, including Havana Group of South Korea, Switzerland-based SSB Group and Ensar, US logistics major FedEx, Finland’s RiverRecycle Group, MGSA Group from Dubai, Singapore-based Spaces and Mapletree, Genvy and Indospace Park Group, and US-based Tribeca Developers. These investments aim to develop a world-class, walk-to-work urban centre.

The Magnetic Maharashtra Pavilion at Davos attracted significant footfall from global investors, entrepreneurs and policymakers. Chief Minister Fadnavis, Industries Minister Uday Samant and the Maharashtra delegation welcomed visitors to the pavilion.

During the visit, Fadnavis met World Bank President Ajay Banga to discuss the development of a Green Industrial Corridor in Maharashtra, an initiative expected to boost MSME competitiveness and export potential.

He also held meetings with Bermuda Prime Minister David Burt on inclusive development and governance, Hyundai Chairman Sung Kim on electric vehicle expansion plans, and AP Moller-Maersk CEO Vincent Clerc on terminal investments worth $2.5 billion and the India–EU supply chain corridor.

ALSO READ: Kabir Khan's film on the Taj Mahal turns into India's soft power

The Chief Minister also interacted with Finnish Minister Ville Tavio on bilateral cooperation and a proposed circular economy conference in Mumbai, Israel Innovation Authority Chairman Alon Stopel on research partnerships, Hewlett-Packard Chairperson Patricia Russo on AI and digitisation, Antora Energy CEO Andrew Ponec on zero-carbon industrial heat solutions, and MIT Media Lab Executive Director Jessica Rosenworcel on innovation and technology collaboration.