August 19, 2025: The Maharashtra government has announced plans to develop a new urban hub, termed Third Mumbai, in Raigad district to strengthen growth across the Mumbai Metropolitan Region (MMR). Chief Minister Devendra Fadnavis said the upcoming city will feature international university campuses, medical colleges, research facilities, and innovation centers, with research in advanced fields such as quantum computing and AI-based systems forming a core part of the project.
He assured that seamless connectivity between Mumbai and Third Mumbai is being planned. Infrastructure projects such as the Coastal Road, Atal Setu, and the Worli-Sewri Link Road are expected to play a crucial role in ensuring smooth travel. Fadnavis also urged private investors to actively participate, promising that approvals would be expedited and challenges addressed quickly. He stressed that public-private partnerships will be vital for effective execution and added that the state is consistently improving its ease-of-doing-business framework.
The announcement was made during the inauguration of Goldman Sachs’ expanded office in Worli. Describing the facility as a reflection of Maharashtra’s skilled workforce, robust markets, and leadership in the financial sector, Fadnavis reiterated the state’s position as an attractive investment destination.
Kevin Sneader, President of Goldman Sachs, noted the significance of opportunities in the Indian market, while CEO Sanjay Chatterjee said the new office is designed to enhance collaboration, innovation, and employee well-being.
Goldman Sachs, which has been present in India since the 1980s and took full ownership of its Mumbai operations in 2006, provides services in investment banking, equity sales and trading, fixed income securities, asset management, and research. The expansion of its Mumbai office underlines the firm’s growing role in the region and further strengthens Maharashtra’s position as a key financial hub.
Source: Prop News Time
