State allows foreign educational institutions to set up campuses in Navi Mumbai SEZ – Hindustan Times

The state cabinet on Tuesday cleared a proposal allowing international educational and research institutions to set up their campuses on the land earmarked for Navi Mumbai Special Economic Zone (NMSEZ). The fields of study the government is focusing on are information technology, artificial intelligence, block chain technology, robotics, and medical research among others.

The state expects an investment of ₹60,000 crore in creating these education hubs which could generate one lakh jobs. “The decision will enable international institutions to set up their campuses here. These units will help create modern educational and research facilities,” a government statement said.

The state government had in 2006 set up NMSEZ in a joint venture with CIDCO. However, it could not take off because of the changed economic situation and the revision in the tax structure brought in by the central government.

In 2018, the state decided to convert the SEZ into an integrated industrial zone and allowed industrial units and residential projects in the proportion of 85:15. The decision by the then Devendra Fadnavis government was in line with its earlier move taken under the industrial policy 2013 when it had decided to set up integrated industrial areas instead of SEZs.

NMSEZ was planned on 2,140 hectares at Dronagiri, Ulwe and Kalamboli in three phases. Dronagiri Infrastructure, promoted by Reliance Group Tradecom LLP, along with Jai Corp and SKIL hold 74% in NMSEZ, while 26% was held by CIDCO. The urban development department had pushed the proposal and CIDCO had allocated 1,842 hectares for NMSEZ.