CIDCO.
1. CIDCO Proposes Landmark Africa India Business Centre (AIBC) to Position Maharashtra as a Global Hub for India-Africa Collaboration
2. CIDCO and AIEF Sign Agreement to enable formation of SPV (Special Purpose Vehicle) for Development of Africa India International Development Zone in Presence of CM Devendra Fadnavis
3. Maharashtra Strengthens India-Africa Ties as CIDCO, AIEF Sign Agreement to enable formation of SPV for Development of Africa India International Development Zone on 14 May 2026
On 14 May 2026, at Mantralay, Mumbai, CIDCO and the Africa India Economic Foundation (AIEF) signed and exchanged Agreement to enable formation of SPV (Special Purpose Vehicle for Development of Africa India International Development Zone in the presence of Hon'ble Chief Minister Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister Shri Eknath Shinde, and Hon'ble Deputy Chief Minister Smt. Sunetra Ajit Pawar. The event was also attended by Shri Aseem Gupta, Additional Chief Secretary, Urban Development; Shri Vijay Singhal, Vice Chairman & Managing Director, CIDCO; Shri Shantanu Goel, Joint Managing Director, CIDCO; Dr. G. Rathinavelu, Chairman , Africa India Economic Foundation and Amb. T.S.Tirumurti, former permanent representative of India in United Nations, Newyork.
CIDCO has proposed the development of the Africa India Business Centre (AIBC) in Navi Mumbai, envisioned as a landmark, integrated hub to strengthen economic, trade and cultural relations between India and African nations. Conceptualized in collaboration with the Africa India Economic Foundation (AIEF), the project aims to establish a dedicated platform for fostering bilateral trade, investment and institutional partnerships. The project aligns with India's growing leadership in South-South cooperation and seeks to unlock the vast potential of the India-Africa partnership, currently valued at approximately USD 96 billion.
"The Africa India Business Centre is a transformative initiative that will position Maharashtra as a key global hub for India-Africa engagement. By creating a dedicated ecosystem for trade, investment and institutional collaboration, this project will strengthen our economic ties with African nations while opening new avenues for growth, employment and international partnerships. This initiative reflects our commitment to enhancing Maharashtra's global standing and contributing to India's expanding role in the Global South."
Shri. Devendra Fadnavis
Hon'ble Chief Minister, Maharashtra
"The proposed Africa India International Development Zone at Kharghar is a forward-looking step towards building world-class infrastructure that supports global business engagement. With its integrated facilities and strategic location in the Mumbai Metropolitan Region, the project will facilitate seamless interaction between stakeholders and drive trade, investment and economic activity. It will further reinforce Maharashtra's position as a preferred destination for international business."
Shri. Eknath Shinde,
Hon'ble Deputy Chief Minister, Maharashtra
"The Africa India Business Centre will serve as a catalyst for economic growth by creating opportunities for MSMEs, generating employment and attracting global investments. By providing a structured platform for sustained engagement between India and African nations, the initiative will promote long-term partnerships and contribute significantly to the region's economic development."
Smt. Sunetra Ajit Pawar
Hon'ble Deputy Chief Minister, Maharashtra
"The Africa India Business Centre represents a strategic initiative to redefine India-Africa engagement. By integrating markets with ideas, innovation, and human capital, AIBC will foster a vibrant ecosystem for mutual growth. As a gateway for the Global South, Maharashtra will, through AIBC, reinforce India's position as a reliable partner in Africa's development and advance a future shaped by partnership and opportunity."
Shri. Vijay Singhal
Vice Chairman & Managing Director, CIDCO
The Government of Maharashtra had previously approved the concept and its implementation through an innovative SPV model wherein AIEF will be a 74% shareholder and CIDCO would hold 26% share. CIDCO in collaboration with AIEF is setting up an Africa India International Development Zone (AIIDZ) at the International Corporate Park in Kharghar. It will facilitate the overall SPV structure as well as performance parameters for a success trade center. The AIIDZ is expected to be fully operational in the next 5 to 6 years.
Envisioned as a self-contained campus, the Africa India Development Zone (AIIDZ) integrates a range of facilities, including a Commercial Tower, Conference Centre, And Habitat Block, designed to facilitate seamless interaction and deal-making between African and Indian businesses, governments, and stakeholders. It aims to create a one-stop platform for businesses, trade offices, and cultural representation to thrive. The Centre's integrated facilities, including 250,000 sqft of exhibition space, meeting rooms, and permanent office spaces for 54 African countries and Indian public and private sectors, will serve as a catalyst for growth, specialization, and scale, while minimizing time, cost, and complexity for businesses and stakeholders. By emulating global benchmarks such as the Dubai World Trade Centre and CAETE in China, the AIBC is poised to become a premier destination for African-Indian trade and commerce, with a projected significant impact on GDP and economic development.
A One-of-its-Kind Integrated Global Complex
Establishing the AIIDZ in Mumbai Metropolitan Region (MMR) leverages the city's status as an economic anchor for the Global South, strategically positioned near the new Navi Mumbai International Airport and the JNPT port. The International Corporate Park at Kharghar is planned as one of the most prime business districts in the MMR.
A 20 acre land in the International Corporate Park (ICP), Kharghar is earmarked for the AIIDZ. This location is primed to catalyse foreign investment, tourism, and business activity, reinforcing Mumbai's role as a gateway to Asia for African nations. The project will integrate business, exhibition, hospitality and cultural spaces within a single, well-planned campus, enabling seamless interaction between stakeholders. Designed to function as a year-round engagement hub, it will host international conferences, exhibitions and business events, creating continuous opportunities for collaboration and networking. The integrated nature of the development will enhance efficiency, reduce operational complexities and offer a world-class experience for global participants.
Key components include:
' Central business tower with offices for 54 African nations and Indian stakeholders
' Convention and exhibition centre with 5,000-6,000 capacity auditorium
' Hospitality and habitat block with hotels and serviced apartments
' Cultural and Retail hub
' Africa-India Bio Dome
The centre is expected to host events for over 250 days annually, ensuring continuous engagement between African and Indian stakeholders, with a projected revenue of US$30m in year 6, the AIIDZ is poised to become a national economic driver, fostering economic growth, and trade between Africa and India.
Economic Impact and Opportunities
The AIBC will act as a major economic driver by facilitating trade, supporting MSMEs, generating employment and attracting global investments and tourism.
By creating a dedicated ecosystem for business interactions and partnerships, the project will stimulate sectoral growth and enhance investment inflows. It is also expected to create significant direct and indirect employment opportunities across multiple industries.
Strengthening India-Africa Relations
The Gandhi-Mandela Convention Centre most prominently refers to facilities in Africa honoring Mahatma Gandhi and Nelson Mandela's legacies through India-Africa ties. The project will foster cultural exchange, provide a permanent presence for African nations in India and advance soft diplomacy through business-led collaboration. It will enable deeper institutional engagement and people-to-people connect, strengthening mutual understanding and long-term partnerships. The initiative will further reinforce India's position as a trusted and strategic partner in Africa's growth story.
