Davos [Switzerland], January 23 (ANI): Maharashtra Chief Minister Devendra Fadnavis, on Thursday during the Davos Summit 2026, revealed that 83% of the MoUs involve direct foreign investment, while 16% are through foreign technology partnerships. Investments are coming from 18 countries, including the United States, the United Kingdom, Singapore, Japan, Switzerland, Sweden, the Netherlands, Norway, Italy, Germany, France, Austria, the UAE, Spain, Canada, and Belgium.

The investments span across industrial, services, agriculture, and technology sectors. The Chief Minister stated that Maharashtra has a 75% MoU conversion rate, and that last year's MoUs were implemented at a similar rate.

These investments typically materialise over a period of 3 to 7 years. Agreements have been signed with major global and Indian companies, including SBG, Brookfield, ArcelorMittal, Fineman Global, Essar, Skoda Auto, Volkswagen, STT Telemedia, Tata Group, Adani Group, Reliance, JBL, Coca-Cola, Bosch, CapitaLand, and Iron Mountain. Although some of these are Indian companies, they have operations and investments in over 165 countries globally.

Key focus areas include quantum computing, artificial intelligence (AI), global capability centres (GCCs), data centres, healthcare, food processing, green steel, urban development, shipbuilding, fintech, logistics, and digital infrastructure.

Maharashtra will develop India's first Innovation City near Mumbai in partnership with the Tata Group. Detailed planning will be completed within the next 6 to 8 months. This concept was discussed at last year's Davos, and further deliberations took place with Tata Sons Chairman N. Chandrasekaran. The Tata Group will invest over 1 lakh crore, with participation from several international investors.

A comprehensive circular economy model will be developed in Mumbai to address challenges related to water, air, and waste management. All types of waste will be scientifically processed. The impact of this initiative is expected to be visible within 2 to 3 years, and the model will later be expanded to other major cities.

The Raigad-Pen Growth Centre was also announced at Davos, which will develop into a major business district. Investments worth 1 lakh crore have already been secured for this project. (ANI)