Navi Mumbai's Innovation City to Become Business Hub, Says CM Fadnavis.

Maharashtra Chief Minister Devendra Fadnavis has unveiled plans for a massive "Innovation City" near the upcoming Navi Mumbai airport, positioning it as the next major business hub. Speaking at the Mumbai Tech Week (MTW) event on Friday, Fadnavis emphasized that Mumbai has lived its time as India’s business capital, urging entrepreneurs to shift focus to the new city.

Set to be three times the size of Mumbai, the upcoming Innovation City will cater to businesses with advanced infrastructure and sector-specific ecosystems. Fadnavis noted that high living costs have driven many tech companies to Bengaluru and Hyderabad, but Navi Mumbai is emerging as a new magnet for investment, particularly in technology and data infrastructure.

"With the Atal Setu sea link connecting Navi Mumbai to Mumbai, the region is now home to 65% of India’s data center capacity. Most tech companies are setting up there, and we will soon launch the first M-Hub, an incubator for startups on par with those in Bengaluru and Hyderabad," he said.

The Tech Entrepreneurs Association of Mumbai (TEAM), which organized the event, will act as a knowledge partner for the government in developing Innovation City. According to TEAM Founder Aakrit Vaish, the city will be operational within two years and provide a supportive ecosystem for startups. TEAM also announced the launch of TEAM Angels, a founder-led investment collective aimed at funding early-stage Mumbai-based startups within the city.

In addition to Innovation City, Fadnavis announced a partnership between Maharashtra and Meta to integrate AI into governance through an AI-powered "Aaple Sarkar" initiative. The Maharashtra State Innovation Society (MSInS) has also partnered with TEAM to bolster the AI ecosystem and accelerate economic growth.

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