Maharashtra will establish a 300-acre Innovation City in Navi Mumbai, aiming to position the state and the city as a hub for technological advancement and economic expansion.

The ambitious project was announced by Chief Minister Devendra Fadnavis at a Nasscom event on March 24.

The Innovation City, modelled after Gujarat's Gift City, will be a transformative hub for start-ups and industry collaboration. The Innovation city will be thrice the size of Mumbai.

Fadnavis revealed that Tata Sons Chairman N Chandrasekaran has volunteered to draft a comprehensive blueprint outlining the key features and objectives of Innovation City.

This new development will complement the upcoming Navi Mumbai International Airport, reinforcing the state’s commitment to infrastructure growth and urban transformation.

In addition to Innovation City, the state government is also working on creating an entirely new city near the airport, ensuring that Maharashtra remains a leader in urban planning and economic development.

Fadnavis also announced plans for a Global Capability Centre (GCC) Park in Navi Mumbai, aimed at attracting top global firms. Discussions are going on with at least five major GCCs, with expectations of securing their investments soon.

The government has recently signed multiple Memorandums of Understandings worth $20 billion for the establishment of data centres further bolstering Maharashtra’s status as a digital powerhouse.

Fadnavis confirmed that a dedicated data centre park is under construction in Navi Mumbai. The state is also training over 10,000 women in Artificial Intelligence (AI) through a collaborative initiative with Microsoft. The program aims to enhance women’s digital skills, preparing them for careers in emerging technology sectors and strengthening the state’s AI workforce. 

Stating that Mumbai city has lived its time as the business capital of the country, Fadnavis urged entrepreneurs to shift their focus to a “new city” that will be built near the new airport in Navi Mumbai.

The city will be thrice the size of Mumbai and function as a “thematic city” that will accommodate the needs of the businesses, Fadnavis said at the Mumbai Tech Week.

Maharashtra had announced a draft start up policy that aims to incubate 50,000 start ups and create 25 lakh jobs.

It offers waivers on electricity tariff and stamp duty waivers, in addition to patent cost reimbursement. A single-window online portal for start up will also be developed for all regulatory compliance

It promises to establish and support over 300 incubators, accelerators, start up hubs, and entrepreneurship labs. These initiatives will work towards providing access to mentorship, financing, co-working spaces, and a start up-friendly regulatory framework.