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NAREDCO Maharashtra Summit to Address Key Growth Areas
NAREDCO Maharashtra is set to host a summit themed ‘RE-Defining India’s Growth Story’. The event will spotlight critical areas including strategic capital, infrastructure, artificial intelligence (AI), property technology (proptech), and global investment partnerships.
A significant highlight will be the release of an exclusive report by JLL India, focusing on redevelopment initiatives in Mumbai. This report will coincide with discussions around the Mumbai 3.0 project, which aims to transform the city’s urban landscape through innovative development strategies.
Spread across 1,710 acres, it will offer integrated infrastructure and a complete business ecosystem for corporates, GCCs, startups and financial institutions,” said NMRDA commissioner Sanjay Meena, who will represent the authority at the summit. The New Nagpur Business District, spread over 692.06 hectares, forms a key part of the larger project and will be implemented by NMRDA, with NBCC (India) Ltd appointed as consultant. While Rs 3,000 crore was initially earmarked for land acquisition, around Rs 3,500 crore has been allocated for Phase I development.
The high-profile summit is expected to put the city’s emerging business and financial hub on the radar of a wider pool of investors, developers and policymakers than it has reached so far. It will see participation from prominent business leaders and policymakers, including chief minister Devendra Fadnavis , along with representatives of global investment and financial institutions, real estate and infrastructure companies, technology innovators and other industry stakeholders. The project is expected to generate over five lakh jobs, particularly in knowledge-based industries and startups, and will feature a first-of-its-kind underground utility tunnel system designed on a plug-and-play model, alongside smart infrastructure, green planning and a single-window clearance mechanism to facilitate ease of doing business. Nagpur Metropolitan Region Development Authority (NMRDA) will present its proposed International Business & Finance Centre (IBFC) and business district at the summit. “Naveen Nagpur IBFC is envisioned as a landmark development that will create a new business and investment destination for Nagpur and Central India. He added that NMRDA’s focus is on developing New Nagpur with quality infrastructure, efficient governance and a strong investment environment, strengthening the city’s position as a major economic hub in Central India. Funding is being arranged through a HUDCO loan backed by a state government guarantee.