Maharashtra Begins Work On ‘Third Mumbai’ In Raigad

21 Aug 2025 CW Team

The Maharashtra government has begun work on developing a ‘Third Mumbai’ in Raigad district, aimed at accelerating growth in the Mumbai Metropolitan Region, Chief Minister Devendra Fadnavis announced. Speaking at the inauguration of Goldman Sachs’s new office in Worli, Fadnavis described the initiative as a new chapter in the state’s economic journey.

The proposed city will host international university centres, medical colleges, innovation hubs, and research facilities, with a particular focus on quantum computing and AI-based systems. Fadnavis said the project, driven through public-private partnerships, would play a crucial role in shaping the economic future of both Mumbai and Maharashtra.

Seamless connectivity between Mumbai and the new city will be ensured through major infrastructure projects, including the Coastal Road, Atal Setu and Worli-Sewri Link Road. Fadnavis added that the state will fast-track all required clearances for investors and provide a smooth, investor-friendly environment to strengthen its ease-of-doing-business ranking.

“The state is committed to resolving any issues promptly to ensure development moves without hurdles,” he said.

At the event, Goldman Sachs president Kevin Sneader highlighted India’s growing importance for the firm, while Goldman Sachs India CEO Sonjoy Chatterjee said the new office design reflects a focus on collaboration, innovation and employee well-being.

According to the Chief Minister’s Office, Goldman Sachs began services in India in the 1980s and established full ownership in Mumbai in 2006. Its operations now span investment banking, equity sales and trading, fixed income securities, asset management, and research services.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..