Maharashtra's 'Third Mumbai' to Boost MMR Development: CM Fadnavis
Maharashtra Chief Minister Devendra Fadnavis has announced the development of 'Third Mumbai' in Raigad district to enhance the growth of the Mumbai Metropolitan Region (MMR).
Third MumbaiMmrMaharashtraDevendra FadnavisGoldman SachsReal Estate MaharashtraAug 19, 2025
Fadnavis made the announcement on Monday during the inauguration of the expanded office of global investment banking giant Goldman Sachs in the Worli area. The CM emphasized that the opening of Goldman Sachs' new facility is a matter of pride for the state, reaffirming Maharashtra's skilled workforce, robust markets, and investor-friendly environment.
The state government is committed to development and is working with the private sector to build 'Third Mumbai'. The new city will host centers of international universities and will play a crucial role in the economic growth of both Mumbai and Maharashtra. The project will include medical colleges, innovation hubs, and research facilities. Research in areas like quantum computing and AI-based systems will be a key feature, Fadnavis added.
Connectivity between Mumbai and 'Third Mumbai' will be seamless, supported by infrastructure projects like the Coastal Road, Atal Setu, and the ongoing Worli-Sewri Link Road. The CM assured that all necessary clearances for incoming investors will be fast-tracked at the government level. Maharashtra is an investor-friendly state, and the government is continuously improving its ease-of-doing-business rankings.
Kevin Sneader, president of Goldman Sachs, highlighted the significance of opportunities in the Indian market for the firm. Goldman Sachs India CEO Sanjay Chatterjee emphasized that the new office marks a milestone in the company's journey in India. The design of the new space focuses on collaboration, innovation, and employee well-being.
A statement from the CM's Office noted that Goldman Sachs began its services in India in the 1980s and established full ownership presence in Mumbai in 2006. It currently offers investment banking, equity sales and trading, fixed income securities, asset management, and research services.
The development of 'Third Mumbai' is expected to bring significant economic benefits to the region, creating new opportunities for education, healthcare, and innovation. The CM's commitment to public-private partnerships and investor-friendly policies is expected to attract substantial investment in the new city.
Frequently Asked Questions
What is 'Third Mumbai'?
'Third Mumbai' is a new city being developed in the Raigad district of Maharashtra to boost the development of the Mumbai Metropolitan Region (MMR).
What are the key features of 'Third Mumbai'?
Key features of 'Third Mumbai' include international universities, medical colleges, innovation hubs, and research facilities, with a focus on advanced research in areas like quantum computing and AI.
How will 'Third Mumbai' boost economic growth?
'Third Mumbai' will play a crucial role in the economic growth of both Mumbai and Maharashtra by providing new opportunities for education, healthcare, and innovation, and by attracting significant investment.
What infrastructure projects will support 'Third Mumbai'?
Connectivity between Mumbai and 'Third Mumbai' will be supported by infrastructure projects like the Coastal Road, Atal Setu, and the ongoing Worli-Sewri Link Road.
What is the role of the private sector in the development of 'Third Mumbai'?
The private sector is a key partner in the development of 'Third Mumbai'. The state government is committed to public-private partnerships and is working to fast-track necessary clearances for incoming investors.
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