The Maharashtra government has signed a memorandum of understanding (MoU) for the development of the Africa India Business Centre (AIBC) in Kharghar, a major project aimed at enhancing trade, investment and cultural engagement between India and African nations.
The proposed international business hub will be jointly developed by City and Industrial Development Corporation (CIDCO) and the Africa India Economic Foundation through a Special Purpose Vehicle (SPV). The project is planned across nearly 20 acres within the International Corporate Park near the upcoming Navi Mumbai International Airport.
According to officials, the development will feature a central business tower housing offices representing 54 African nations, along with a large convention and exhibition centre, hotels, serviced apartments, retail zones and dedicated cultural spaces. The project will also include an “Africa-India Bio Dome” designed to promote economic, cultural and institutional collaboration between the two regions.
Devendra Fadnavis said the initiative is expected to position Maharashtra as a major gateway for India-Africa commercial relations while encouraging employment generation, MSME growth and foreign investment opportunities in the state.
Deputy Chief Ministers Eknath Shinde and Sunetra Pawar were also present during the MoU signing ceremony.
Officials stated that the proposed centre draws inspiration from international trade and business hubs such as the Dubai World Trade Centre and is expected to host over 250 global business and networking events annually once operational.
The project is anticipated to be completed within the next five to six years and is expected to further strengthen Navi Mumbai’s emergence as an international business and infrastructure destination, particularly with the upcoming airport and expanding corporate ecosystem in the region.
Source: Mumbai Live
