Davos 2026 : At the World Economic Forum (WEF) in Davos, Switzerland, Maharashtra’s CM Fadnavis said he is planning to build Mumbai’s first innovation city focusing on innovation ecosystems and captivating global investors.
At the 2025 WEF conference where more than 400 investors were present, he proposed this idea under the AI and Innovation Ecosystem theme informing that within the next six to eight months the project will begin as the location has been finalized.
“The city will introduce global innovation ecosystems to Mumbai, India.” Our objective is to establish Mumbai as a global centre for plug-and-play innovation systems. Tata Sons has pledged USD 11 billion to build the Innovation City, which will include a data centre. International investors are expressing a strong desire to fund the project in the wake of this news. Near Mumbai, we plan to construct India’s first innovation city,” Fadnavis continued.
Following which he also shared that Tata Sons will fund around USD 10 billion to construct core infrastructure, including a data centre. He is pleased that nearly a year later, they have officially announced the Innovation City in Davos before 400–450 international investors.
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In addition to the Innovation City, Fadnavis stated that energy transition was a topic of discussion at Davos, especially in relation to the International Solar Alliance. Union and Zimbabwean ministers took part in in-depth discussions on the topic.
Further, he mentioned that after the SHANTI Bill was passed in Parliament, Maharashtra inked memorandums of understanding with Russian and Indian businesses to construct Small Modular Reactors (SMRs) for the deployment of nuclear energy in smaller clusters around the state.