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Caneus Intl to Invest $500M in Navi Mumbai Aerospace Institute

Caneus International has announced a $500 million investment to establish a global Mid-Technology Readiness Level Institute for aerospace in Navi Mumbai. The Maharashtra government is partnering on the project by contributing 250 acres of land. Separately, Chief Minister Devendra Fadnavis revealed plans for India's first 'Innovation City' near Mumbai, backed by a major commitment from Tata Sons. These announcements were made during the 2026 World Economic Forum meeting in Davos, highlighting a major push to position Maharashtra as a global innovation hub.

Key Points: $500M Aerospace Institute Announced for Navi Mumbai at Davos

  • $500 million investment
  • Global aerospace institute in Navi Mumbai
  • Maharashtra govt contributing 250 acres
  • Part of new Mumbai 'Innovation City'
  • Announced at World Economic Forum
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Caneus Intl to launch aerospace institute in Navi Mumbai with investment of USD 500 million

Caneus International to launch a global aerospace institute in Navi Mumbai with a $500M investment, announced at WEF Davos 2026.

"India wants to create the next generation of aircraft, spacecraft, and satellites. - Milind Pimprikar"

Davos, January 23

Milind Pimprikar, Founder and Chairman of Caneus International, has announced the launch of the Mid-Technology Readiness Level Institute, a global institute platform to be established in Navi Mumbai with an investment of USD 500 million at the World Economic Forum in Davos.

While speaking with ANI, Pimprikar said, "Maharashtra is leading or hosting this project because this is a commercial-driven economic project where all the aerospace players from around the world will come here, not just for Maharashtra but to the entire India. India wants to create the next generation of aircraft, spacecraft, and satellites."

"This is a USD 500 million initiative where the government of Maharashtra is a partner. They will be contributing 250 acres of land near Navi Mumbai," he told.

"We have 25 years of experience doing this around the world. So the first time this will be a global platform in India that will benefit not just India, but the region and the world in particular," he said.

In a separate interaction with ANI, Maharashtra Chief Minister Devendra Fadnavis told the state is set to build its first 'Innovation City' near Mumbai, bringing in multiple investors and global innovation ecosystems to India

Speaking to ANI on the sidelines of the World Economic Forum in Davos, Fadnavis highlighted that the idea was proposed under the AI and the Innovation Ecosystem theme of the 2025 WEF conference before more than 400 investors, and this year the location has been finalised with the project set to begin in six to eight months.

"The city will bring global innovation ecosystems to Mumbai, India. Our goal is to make Mumbai a hub where anyone in the world can easily access a plug-and-play innovation system. Tata Sons has committed $11 billion to develop the Innovation City, including a data centre. Following this announcement, international investors are now expressing serious interest in investing in this city. We are set to build India's first innovation city near Mumbai," CM Fadnavis told ANI.

The 56th Annual Meeting of the World Economic Forum is being held from January 19 to 23, 2026, at Davos-Klosters, with nearly 3,000 participants from over 130 countries, including a record number of world leaders, CEOs, innovators and policymakers, under the theme "A Spirit of Dialogue."

- ANI

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Reader Comments

S
Sarah B
As someone working in tech, this is the kind of long-term investment India needs. Moving from IT services to deep-tech and aerospace manufacturing is crucial. Hope the institute collaborates with our IITs and IISc.
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Vikram M
Great initiative, but I hope the benefits reach beyond Maharashtra. We need to develop aerospace clusters in other states too - Karnataka, Telangana, Tamil Nadu. Can't have all eggs in one basket.
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Priya S
The 'Innovation City' concept sounds exciting! Plug-and-play for global startups? Amazing. But what about the local infrastructure? Navi Mumbai's roads and public transport need massive upgrades to handle this growth.
R
Rohit P
Finally! We are talking about building the next generation of aircraft and satellites here in India, not just assembling them. This is true Aatmanirbharta. Hope ISRO and DRDO get involved.
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Michael C
The scale of ambition is impressive. A global institute platform attracting worldwide aerospace players could position India as a serious R&D destination. The key will be execution and cutting red tape.
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Kavya N
$500 million is a huge amount. I just hope the land contribution (250 acres) from the Maharashtra government is transparent and at a fair price. Public resources should be used wisely for public good

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