Navi Mumbai: The City and Industrial Development Corporation (CIDCO) and the Africa India Economic Foundation (AIEF) signed and exchanged an agreement on Thursday at Mantralaya to facilitate the formation of a Special Purpose Vehicle (SPV) for creating the Africa India International Development Zone (AIIDZ) and the proposed Africa India Business Centre (AIBC) in Navi Mumbai. The agreement was signed in the presence of Chief Minister Devendra Fadnavis.
Project Overview
CIDCO proposed the AIBC in Navi Mumbai as a landmark, integrated hub to strengthen economic, trade, and cultural relations between India and African nations. Conceptualised in collaboration with AIEF, the project aims to establish a dedicated platform for fostering bilateral trade, investment, and institutional partnerships, aligning with India’s growing leadership in South-South cooperation. The India-Africa partnership is valued at approximately USD 96 billion.
Chief Minister's Remarks
“The AIBC 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,” said Fadnavis.
CIDCO Official's Statement
“The AIBC 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,” said Vijay Singhal, Vice Chairman and Managing Director of CIDCO.
Implementation Through SPV Model
The Government of Maharashtra previously approved the concept and its implementation through an SPV model in which AIEF would be a 74% shareholder and CIDCO would hold a 26% share. CIDCO, in collaboration with AIEF, is setting up the AIIDZ at the International Corporate Park in Kharghar, which will facilitate the overall SPV structure and performance parameters for a successful trade centre.
Timeline and Facilities
The AIIDZ is expected to be fully operational in the next 5 to 6 years. Envisioned as a self-contained campus, the AIIDZ integrates facilities including a Commercial Tower, Conference Centre, and Habitat Block to facilitate interaction and deal-making between African and Indian businesses, governments, and stakeholders.
The centre includes 250,000 square feet of exhibition space, meeting rooms, and permanent office spaces for 54 African countries and Indian public and private sectors, and aims to emulate benchmarks such as the Dubai World Trade Centre and CAETE in China. A 20-acre land parcel at the International Corporate Park, Kharghar, has been earmarked for the AIIDZ, near the Navi Mumbai International Airport and the JNPT port.
Key Components
- A central business tower
- A convention and exhibition centre with a 5,000-6,000-capacity auditorium
- Hospitality and habitat block
- A cultural and retail hub
- An Africa-India Bio Dome
The centre is expected to host events for over 250 days annually, with projected revenue of USD 30 million in year 6.
Cultural and Diplomatic Impact
The project also references the Gandhi-Mandela Convention Centre and says it will foster cultural exchange, provide a permanent presence for African nations in India, and advance soft diplomacy through business-led collaboration.
