Maharashtra Chief Minister Devendra Fadnavis used the global platform of the World Economic Forum Annual Summit 2026 to outline a sharp and expansive roadmap aimed at accelerating the state’s transformation into a technology driven, infrastructure led and sustainability-focused economic powerhouse. Over multiple sessions and investor interactions, the Chief Minister positioned Maharashtra as a preferred global investment destination with long term policy clarity.

One of the most prominent announcements was the plan to develop a state of the art Innovation City near the Mumbai airport. Envisioned as a plug and play ecosystem, the project is designed to attract startups, global technology firms, research institutions and innovation driven enterprises. The proposed city will focus on artificial intelligence, fintech, deep tech and digital infrastructure, offering seamless business readiness and world class connectivity.

Backing the Innovation City project, Tata Sons committed an investment of nearly 11 billion dollars, translating to over Rs 90,000 crore. The investment is expected to play a catalytic role in shaping the project’s infrastructure, technology backbone and employment potential. Officials indicated that the commitment reflects strong investor confidence in Maharashtra’s governance and growth trajectory.

On the first day of the summit itself, Maharashtra secured Memoranda of Understanding of approximately Rs 14.5 lakh crore. These agreements span sectors such as data centres, logistics, urban infrastructure, financial services and clean energy. The Mumbai Metropolitan Region Development Authority alone signed 19 major MoUs aimed at strengthening logistics corridors, fintech ecosystems and large scale urban projects.

The MoUs signed on Day One are projected to generate over 15 lakh jobs across sectors, including infrastructure manufacturing, renewable energy, digital services, food processing and automobiles. The employment boost is likely to span skilled technology roles, infrastructure related work and allied services, particularly across the Mumbai Metropolitan Region and emerging growth centres.

Fadnavis reiterated the government’s vision for the Raigad Pen Growth Centre, referring to it as the Third Mumbai. Planned as a new age business district, the area will host global capability centres, data centres and fintech hubs, easing pressure on Mumbai while creating a modern commercial nucleus aligned with future industries.

In line with sustainability goals, the Chief Minister announced a target to source 52 percent of Maharashtra’s total power from renewable energy by 2030. He also outlined a circular economy vision for Mumbai, focusing on waste reduction, resource efficiency and sustainable urban development, aligning the city with global climate commitments.

A MedTech roadmap was unveiled to make healthcare more affordable through advanced medical technology. Alongside this, strategic partnerships were announced to strengthen Maharashtra’s artificial intelligence ecosystem, with the aim of positioning the state as a leading AI hub in India.

Throughout the summit, Fadnavis engaged with global leaders and investors, reinforcing Maharashtra’s ambition of becoming a one trillion dollar economy driven by innovation, infrastructure and sustainability.

Mumbai, Jan 22: The Indian benchmark indices posted strong gains in early trade on Thursday, after US President Donald Trump walked back on his tariff threats against eight European countries over Greenland ownership.

As of 9.25 am, the Sensex added 568 points, or 0.69 per cent to reach 82,477 and the Nifty advanced 160 points, or 0.64 per cent to 25,317.

Main broadcap indices overperformed the benchmark indices, with the Nifty Midcap 100 adding 0.94 per cent, and the Nifty Smallcap 100 advancing 1.01 per cent.

All sectoral indices were trading in the green, with Nifty auto, PSU bank, media and IT being the notable gainers — up 1.05 per cent, 0.89 per cent, 1 per cent and 0.80 per cent, respectively.

Immediate support lies at 25,000 zone, while resistance is now anchored near 25,250–25,300 zone, market watchers said.

Asia-Pacific markets rebounded after Trump informed that tariffs won’t be imposed on European countries over Greenland.

At the World Economic Forum (WEF) in Davos, Trump said that force would not be used to acquire the Arctic island, adding that he had “formed the framework of a future deal with respect to Greenland,” with NATO Secretary General Mark Rutte.

Analysts said that Trump’s message that the US would “refrain from imposing tariffs on Europe” retracts threat of a US-Europe trade war which was dragging the markets down.

The consequent relief rally in the market could be significant since two lakh short contracts are lying in the market, with the market construct appropriate for a short-covering, they said.

Though the Q3 profitability of companies was negatively impacted by higher provision for the new labour code commitments, the market will shrug it off as a one time factor, an analyst added.

In Asian markets, China’s Shanghai index lost 0.12 per cent, and Shenzhen eased 0.12 per cent, Japan’s Nikkei added 1.87 per cent, while Hong Kong’s Hang Seng Index dropped 0.08 per cent. South Korea’s Kospi added 1.97 per cent.

The US markets ended in the green in the last trading session as Nasdaq advanced 1.18 per cent. The S&P 500 gained 1.16 per cent, and the Dow added 1.21 per cent.

On January 20, foreign institutional investors (FIIs) in India sold net equities worth Rs 1,788 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 4,520 crore.

Mumbai, Jan 21: Zomato parent Eternal on Wednesday reported a sharp jump of 72.88 per cent in its consolidated profit for the December quarter (Q3) of FY26, helped by strong growth in revenue.

The company said its consolidated net profit rose 72.88 per cent year-on-year to Rs 102 crore in Q3 FY26, compared with Rs 59 crore in the same quarter last financial year, according to an exchange filing.

Eternal had also posted a net profit of Rs 65 crore in the October–December quarter of the current financial year (Q2 FY26).

Consolidated revenue from operations surged during the quarter, more than tripling to Rs 16,315 crore from Rs 5,405 crore in the year-ago period.

Eternal, which rebranded itself from Zomato in March 2025, also saw a sharp rise in expenses.

Total expenses for the Gurugram-based company jumped 198 per cent to Rs 16,493 crore in the December quarter, compared with Rs 5,533 crore a year earlier and Rs 13,813 crore in the previous quarter.

At the end of the quarter, the company’s cash balance stood at Rs 17,820 crore, slightly lower than Rs 18,314 crore reported in the September quarter, as per its exchange filing.

In the stock market, shares of Eternal ended the session sharply higher. The stock settled nearly 5 per cent up at Rs 282.80 per share.

Meanwhile, its CEO Deepinder Goyal resigning from his position with effect from February 1, 2026.

Along with the announcement of its financial results, the company, which re-branded itself as Eternal in March 2025, said Albinder Dhindsa, who is currently the CEO of Blinkit, will take over as the new chief executive.

Addressing shareholders, Goyal said he has recently been drawn towards new ideas that involve higher levels of risk, experimentation and exploration.