Third Mumbai: A New Economic Hub in Raigad District
Maharashtra Chief Minister Devendra Fadnavis unveils plans for 'Third Mumbai' in Raigad district, aimed at boosting economic growth and attracting global investments.
Third MumbaiRaigad DistrictEconomic GrowthInfrastructureInvestmentReal Estate MaharashtraAug 18, 2025
The announcement was made during the inauguration of the Mumbai office of the international investment bank Goldman Sachs in Worli. Fadnavis emphasized that the opening of a new office of a global financial institution like Goldman Sachs further solidifies Maharashtra's position as the financial hub of the country. He highlighted that the presence of leading global institutions in the state reflects its skilled workforce, robust markets, and investment-friendly environment.
As part of the MMR's growth, Third Mumbai is being developed in Raigad district. The new city will include international universities, medical colleges, and an innovation hub equipped with advanced research facilities. Research in cutting-edge fields like quantum computing and artificial intelligence will receive significant support in this new economic zone.
Fadnavis assured that connectivity with present-day Mumbai will be seamless through the Coastal Road, Atal Setu, and the under-construction Worli-Sewri Link Road. He stated, 'Such infrastructure combined with public-private partnerships will drive rapid development. All necessary approvals for investors will be provided on priority.'
The development of Third Mumbai is expected to attract substantial foreign direct investment (FDI) and create numerous job opportunities. The state government is committed to providing a conducive environment for businesses and ensuring that the region becomes a hub for innovation and economic activities. This project is a testament to the government's vision of making Maharashtra a leading economic powerhouse in the country.
Frequently Asked Questions
What is Third Mumbai?
Third Mumbai is a new region being developed in Raigad district to enhance the growth of the Mumbai Metropolitan Region (MMR). It is aimed at boosting economic development and attracting global investments.
What kind of facilities will be included in Third Mumbai?
Third Mumbai will include international universities, medical colleges, and an innovation hub equipped with advanced research facilities. It will also focus on research in quantum computing and artificial intelligence.
How will connectivity to Third Mumbai be ensured?
Connectivity to Third Mumbai will be seamless through the Coastal Road, Atal Setu, and the under-construction Worli-Sewri Link Road. These infrastructure projects will facilitate easy access to the new economic zone.
What is the role of public-private partnerships in the development of Third Mumbai?
Public-private partnerships will play a crucial role in driving the rapid development of Third Mumbai. The state government is committed to providing all necessary approvals for investors on priority to ensure a conducive environment for businesses.
What are the expected economic benefits of Third Mumbai?
The development of Third Mumbai is expected to attract substantial foreign direct investment (FDI) and create numerous job opportunities. It will also serve as a hub for innovation and economic activities, further solidifying Maharashtra's position as the financial hub of the country.
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