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Mumbai to ‘Become Global Trade Hub’

Posted February 16, 2015

Under International Trade Issues

(Global Trade Review)

The Indian government is to seek international finance for its plans to turn Mumbai into a global trade and financial services hub.

Narendra Modi’s administration’s ambitious rhetoric on trade continued this week, when the chief minister for the Maharashtra region announced the fast-tracking of major infrastructure projects in Mumbai. Already, Fadnavis has approved 25 large projects in just two months, including the development of a new smart city in Kalyan and a logistical hub in the northeast of the area.

Devendra Fadnavis also outlined plans to turn Mumbai – the country’s largest metropolitan area – into a global hub for trade and financial services. The government plans massive infrastructure investment and will shortly be attracting bids for the Mumbai Trans Harbour Link and a coastal road project connecting disparate parts of the city, with the overarching aim of making the area a prime destination for foreign direct investment. Click here to read more.