The Mumbai Metropolitan Region Development Authority (MMRDA) has signed a Memorandum of Collaboration (MoC) with the World Economic Forum (WEF). MMRDA is the first parastatal agency to sign such an agreement with WEF, the authority stated on Thursday.

"This partnership represents a bold step towards realizing Maharashtra's vision of becoming a $1 trillion economy while setting global standards for urban development," MMRDA stated in a press release.