What Agreements Were Made at the WEF Summit for the Raigad Pen Growth Centre?

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What Agreements Were Made at the WEF Summit for the Raigad Pen Growth Centre?

Synopsis

Discover the exciting developments at the WEF Summit as the Maharashtra government partners with global companies for the Raigad Pen Growth Centre. This initiative promises to establish a cutting-edge hub for technology and innovation, inviting international investments and collaborations.

Key Takeaways

  • MMRDA signs MoUs with global companies for Raigad Pen Growth Centre.
  • Project envisioned as the 'Third Mumbai'.
  • Focus on technology, fintech, and data centres.
  • Invitation to global firms for business and investment.
  • Engagements with various international leaders and companies.

Davos, Jan 21 (NationPress) The Mumbai Metropolitan Region Development Authority (MMRDA), representing the Maharashtra government, has entered into agreements with several international companies to foster the development of the growth centre located in the Pen tehsil of the Raigad district.

During the signing of the MoU, Chief Minister Devendra Fadnavis was present. The project is envisioned as the 'Third Mumbai', destined to become a cutting-edge hub for technology, fintech, and data centres, and will also be home to India's inaugural dedicated Global Capability Centre (GCC) district. CM Fadnavis extended a warm invitation to global companies to consider the Raigad Pen Growth Centre as a top-tier destination for business and investment, as mentioned in a release from the CMO.

The CMO's statement revealed that the participating companies hail from various countries, including South Korea, Switzerland, the US, Finland, India, the UAE, Singapore, among others.

Fadnavis shared that he had a fruitful discussion with Jessica Rosenworcel, Executive Director of MIT Media Lab, at #WEF26 in Davos, centering around the transformative potential of Digital Public Infrastructure in India and its role in promoting inclusive governance. They also explored how these digital initiatives are bolstering Maharashtra's growth by improving service delivery, encouraging innovation, and developing scalable solutions for the future.

He mentioned having an engaging dialogue with Andrew Ponec, CEO of Antora Energy, on thermal energy storage solutions that convert solar and wind energy into zero-carbon industrial heat and electricity, thereby supporting Maharashtra’s clean and sustainable industrial growth.

The Chief Minister remarked on a pleasant interaction with Nikhil Kamath, co-founder of Zerodha, where they exchanged insights on geopolitics, emerging business opportunities in India, and the nation's growing influence in the global economy.

In another interaction, he expressed appreciation for his conversation with Patricia F. Russo, Chairman of Hewlett-Packard, along with Bhawna Agarwal, Senior VP and Managing Director for India, at #WEF2026 in Davos. Their discussion highlighted key aspects of the global technology landscape, including digitization and the application of AI for security, marking it as a productive dialogue that promises further collaboration with Maharashtra.

He also engaged in a significant discussion with Alon Stopel, Chairman of the Israel Innovation Authority, focusing on enhancing innovation-driven partnerships, fostering sustainable growth, and exploring deeper collaborations in technology and R&D.

The CMO statement notes that Fadnavis and Maersk CEO Vincent Clerk discussed the circular economy in the Mumbai Data Centre and various developmental projects in Maharashtra.

Fadnavis also met with Ville Tavio, Finland’s Minister for Foreign Trade and Development, reinforcing the strong India–Finland partnership and discussing plans to organize a dedicated circular economy event in Mumbai to promote greater collaboration between Finnish and Maharashtrian companies.

Point of View

The collaboration between the Maharashtra government and international firms at the WEF Summit highlights the state's commitment to becoming a global business hub. Such initiatives are critical for fostering innovation, attracting investment, and enhancing the state's economic landscape. It reflects the proactive approach the state is taking in the face of global economic challenges.
NationPress
21/01/2026

Frequently Asked Questions

What is the purpose of the MoUs signed at the WEF Summit?
The MoUs aim to develop the Raigad Pen Growth Centre as a hub for technology, fintech, and data centres, attracting global investment.
Which countries are involved in this initiative?
Companies from South Korea, Switzerland, the US, Finland, India, the UAE, Singapore, and more are involved.
Who was present during the signing of the MoUs?
Chief Minister Devendra Fadnavis represented the Maharashtra government during the signing.
What is the 'Third Mumbai' project?
The 'Third Mumbai' project aims to establish a next-generation hub for technology and innovation in Maharashtra.
How does this initiative impact Maharashtra's economy?
This initiative is expected to foster innovation, enhance service delivery, and create scalable solutions, positively impacting the state's economy.
Nation Press