Maharashtra signs MoUs for Innovation City and Small Modular Reactors (SMR) at World Economic Forum (WEF)

Key facts

• The Tata Group has pledged to invest $11 billion in developing the ecosystem for India's first ‘Innovation City' near Navi Mumbai airport.
• The investments are in sectors such as artificial intelligence (AI), data centres, quantum processing, renewable energy, green skill, electric vehicles, urban transformation, green steel, shipbuilding, sustainability, fintech, digital infrastructure and textiles.
• Maharashtra will also be the first in the country to set up small modular reactors (SMR) for generating atomic electricity.
• The initiative is in line with the passage of Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Bill in Parliament.
• The state has also signed an MoU with US-based Supervity AI to set up the world's first AI Global Capability Centre (GCC) hub in BKC.
• The state has held talks with govt nuclear energy entities in India and Russia to fulfill the power demand of data centres.