The Maharashtra government has signed 61 memorandums of understanding (MoUs) worth a whopping Rs 15.70 lakh crore at the annual meeting of the World Economic Forum held in Davos, Switzerland. 

Around 98% of the total investment will come in the form of Foreign Direct Investment (FDI), chief minister Devendra Fadnavis announced. 

Claiming that Maharashtra had become the data capital centre of India, he said the state government was planning to develop an “innovation city” in Navi Mumbai which would be powered by artificial intelligence (AI) and create an ecosystem for the AI sector in Maharashtra and the country.

The state delegation completed its Davos tour on Thursday and succeeded in signing MoUs worth Rs 15.70 lakh crore, a record in itself. “It was a big day for Maharashtra, and the MoUs will help in creating around 16 lakh jobs in the state,” Fadnavis announced.

Among the major MoUs is one with Brookfield, one of the largest alternative investment management companies in the world, which will invest Rs1,03,200 crore in Maharashtra’s infrastructure sector. The company’s officials signed an MoU with MMRDA for this. 

Amazon Web Services, a subsidiary of Amazon, has also decided to invest a sum of Rs 71,795 crore to set up a data centre.