Leaders from around the world convened at Davos this week for the annual meeting of the World Economic Forum — inking deals worth trillions of dollars. The Maharashtra government signed MoUs worth an unprecedented Rs 14.50 lakh crore on Day 1 as ten states actively pitched projects at the India Pavilion. New Delhi has sent its biggest-ever contingent with four Union Ministers and more than 100 corporate heavyweights, including Mukesh Ambani, N Chandrasekaran and Sunil Bharti Mittal, present in Davos.
“India’s presence in Davos is being registered very effectively. The participation of ten different states reflects the spirit of cooperative and competitive federalism that Prime Minister Modi has instilled in us. We are all here representing ourselves under this spirit, and I believe Davos is essential for staying relevant in today’s geopolitics and connected economy. If you want to remain relevant in this connected economy, you have to come to Davos,” said Maharashtra Chief Minister Devendra Fadnavis.
“We are fighting with giants, but India is a sleeping giant, and if we wake up, we will be the number 1 by 2047,” added Andhra Pradesh Chief Minister N Chandrababu Naidu.
The political leaders in attendance ran the gamut — including lawmakers from Opposition-run states. Karnataka Minister MB Patil headed to Switzerland with a focuson “converting investment intent into on-ground projects, quality jobs” while Kerala Minister P Rajeev noted that expressions of investment accquired last year had already converted into actual deals.
Maharashtra sees record investments, Adani leads with $66 billion plan
Maharashtra secured investment commitments worth Rs 14.5 lakh crore on the first day of the World Economic Forum meeting. The delegation led by Chief Minister Devendra Fadnavis is holding a barrage of investor meetings over the next four days.
Chief Minister Devendra Fadnavis announced on Wednesday that the state had also signed Memorandums of Understanding with renowned international universities such as MIT and Berkeley to explore new ways to improve its technology and systems. The Technical University of Munich has reportedly agreed to collaborate on sustainable urban transport systems, while the Urban Futures Collective from London worked on creating digital twin ecosystems for Mumbai to enhance urban livability and resilience.
The Adani Group also outlined a $66 billion investment blueprint for Maharashtra on Wednesday — spanning aviation, clean energy, urban infrastructure, digital platforms and advanced manufacturing. The ports-to-energy giant has positioned itself as a long-term partner in the state’s infrastructure-led growth agenda.
Vaishnaw highlights ‘global interest in Indian approach to AI’
“Today, the Indian delegation is actively participating in Davos 2026 and all major events here…India’s presence is being strongly felt here, as discussions on the country’s development and economic growth under Prime Minister Narendra Modi are taking centre stage,” said Union Minister Ashwini Vaishnaw.
He also opined on Tuesday that there was “a lot of curiosity in the world” about how India approached technology adoption. He stressed the need for democratisation of technology and added that the country had demonstrated how such advances could be combined with inclusive growth models to deliver large-scale benefits.
Focus on renewable energy
Union Minister Pralhad Joshi outlined how the shift towards green energy had become a powerful tool for economic growth. He stated that India was now able to produce electricity at a much lower cost for its citizens by focusing on renewable energy sources such as the sun and wind.
“India’s agenda at Davos is that transition is not a burden for growth, it is an engine for growth. And because of that, the cost of renewable energy has come down in India. Because of this renewable movement, which the Prime Minister started almost from 2015-16 and very aggressively from almost 2019, it is bringing down the entire cost of electricity in India…we’re pitching for battery storage, pump storage, grid stability, green energy corridor in the coming days,” he said.
‘Not the place for trade talks’
Union Minister Ashwini Vaishnaw ruled out the possibility of extensive trade talks during the Davos excursion. He also indicated that India was not planning to hold delegation-level talks with the US in Davos.
“The format of Davos is a format where we generally do panels and bilaterals. The trade meetings take place according to the country’s own schedules and negotiations. They are deeply engaged with all the major economies on practically all fronts at this point in time. This is not the forum in which we meet delegation to delegation,” PTI quoted him as saying.
‘Criminal waste of money’ says Congress MP Rajeev Shukla
Congress leader and BCCI vice president Rajeev Shukla however dubbed the massive Indian delegation a “criminal waste of money”. He noted in an X post that there were “seven Indian chief ministers meeting each other in Davos”. A similar situation was playing out amidst the business leaders — with “Indian companies are meeting Indian companies”.
“It’s strange. Indians are going to Davos to meet Indians. State governments are signing agreements with Indian companies in Switzerland which they could have done in India. CMs are meeting CMs in Davos. It’s a criminal waste of money. If they had signed agreements with foreign companies there I would have understood,” the Rajya Sabha MP wrote on X.