Maharashtra Unveils Innovation City & GCC Park to Attract Global Investments

Maharashtra is set to create a 300-acre Innovation City and Global Capability Centre (GCC) Park in Navi Mumbai, with the goal of establishing the region as a center for technological innovation and economic growth. Chief Minister Devendra Fadnavis announced this ambitious initiative during a Nasscom event on March 24. 

Inspired by Gujarat’s Gift City, the Innovation City is designed to be a transformative space for start-ups and industry partnerships, covering an area three times larger than Mumbai. Fadnavis disclosed that N Chandrasekaran, Chairman of Tata Sons, has offered to develop a detailed plan that will outline the essential features and goals of the Innovation City.

This project will complement the forthcoming Navi Mumbai International Airport, highlighting the state’s dedication to infrastructure development and urban renewal. Additionally, the state government is planning to construct a completely new city adjacent to the airport, ensuring Maharashtra’s leadership in urban planning and economic progress.

Fadnavis also revealed intentions to establish a Global Capability Centre (GCC) Park in Navi Mumbai, aimed at attracting leading international companies. Ongoing discussions with at least five major GCCs are expected to yield investments soon. 

Recently, the government signed several Memorandums of Understanding totaling $20 billion for the development of data centers, further enhancing Maharashtra’s reputation as a digital hub. Fadnavis confirmed that a dedicated data center park is currently being built in Navi Mumbai. The state is also collaborating with Microsoft to train over 10,000 women in Artificial Intelligence (AI), aiming to boost their digital skills and prepare them for careers in emerging tech fields, thereby strengthening the state’s AI workforce. 

Fadnavis emphasized that Mumbai has had its time as the nation’s business capital and encouraged entrepreneurs to redirect their attention to the “new city” that will be developed near the new airport in Navi Mumbai. 

The city will be three times larger than Mumbai and will serve as a “thematic city” designed to meet the needs of businesses, as stated by Fadnavis during the Mumbai Tech Week. Maharashtra has introduced a draft startup policy aimed at nurturing 50,000 startups and generating 2.5 million jobs. This policy includes incentives such as electricity tariff waivers, stamp duty exemptions, and reimbursement for patent costs. Additionally, a single-window online portal will be created to streamline all regulatory compliance for startups. The initiative also aims to establish and support over 300 incubators, accelerators, startup hubs, and entrepreneurship labs, providing access to mentorship, funding, co-working spaces, and a regulatory environment conducive to startups.

Also read: Viksit Workforce for a Viksit Bharat

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