Maharashtra Bets Big on India–Africa Partnership With Landmark Business Hub in Navi Mumbai

Navi Mumbai: In a major step towards strengthening India–Africa economic ties, the government on Thursday witnessed the signing of an agreement between City and Industrial Development Corporation (CIDCO) and Africa India Economic Foundation to enable the formation of a Special Purpose Vehicle (SPV) for the development of the ambitious Africa India International Development Zone (AIIDZ) at Kharghar in Navi Mumbai.

The agreement was signed at Mantralaya in the presence of Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde and Deputy Chief Minister Sunetra Ajit Pawar. Senior bureaucrats and diplomats, including former Permanent Representative of India to the United Nations T. S. Tirumurti, were also present.

The proposed Africa India Business Centre (AIBC), to be developed within the AIIDZ, is envisioned as a landmark integrated complex aimed at boosting trade, investment and cultural engagement between India and African nations. The initiative comes at a time when India–Africa trade is estimated at nearly USD 96 billion and New Delhi is increasingly positioning itself as a key player in South–South cooperation.

Calling the project “transformative”, Chief Minister Devendra Fadnavis said the initiative would position Maharashtra as a “key global hub for India–Africa engagement”. He said the project would create a dedicated ecosystem for trade, investment and institutional collaboration while opening “new avenues for growth, employment and international partnerships”.

Deputy Chief Minister Eknath Shinde said the proposed development zone at Kharghar would support world-class infrastructure for global business engagement. “Its strategic location in the Mumbai Metropolitan Region will facilitate seamless interaction between stakeholders and drive trade, investment and economic activity,” he said.

Deputy Chief Minister Sunetra Ajit Pawar said the project would create opportunities for MSMEs, generate employment and attract global investments by providing a structured platform for sustained India–Africa engagement.

Under the approved SPV structure, AIEF will hold a 74 per cent stake while CIDCO will retain 26 per cent equity. The project is expected to become operational over the next five to six years.

Planned on a 20-acre parcel inside the International Corporate Park at Kharghar, the AIIDZ will benefit from proximity to the upcoming Navi Mumbai International Airport and Jawaharlal Nehru Port.

The integrated campus will include a central business tower housing offices for 54 African nations and Indian stakeholders, a convention and exhibition centre with a 5,000–6,000-seat auditorium, hospitality facilities, cultural and retail spaces, and an Africa–India Bio Dome.

CIDCO Vice Chairman and Managing Director Vijay Singhal said the centre would “redefine India–Africa engagement” by integrating markets, innovation and human capital into a single collaborative ecosystem.

Officials said the centre is expected to host events for over 250 days annually and generate nearly US$30 million in revenue by its sixth year of operations, while also strengthening diplomatic and cultural ties between India and Africa.