Davos (Switzerland) [India], January 23 (HBTV): Caneus International founder and chairman Milind Pimprikar on Thursday announced the launch of a Mid-Technology Readiness Level (Mid-TRL) Institute, a global aerospace institute platform to be established in Navi Mumbai with an investment of USD 500 million.
The announcement was made on the sidelines of the World Economic Forum in Davos. Pimprikar said Maharashtra is hosting the project as it is a commercially driven economic initiative aimed at bringing aerospace players from across the world to India.
‘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,’ Pimprikar told ANI.
He said the government of Maharashtra is a partner in the project and will contribute 250 acres of land near Navi Mumbai.
‘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 said.
Pimprikar said Caneus International has 25 years of experience working on similar initiatives globally and that the institute would function as a global platform based in India.
‘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, Maharashtra Chief Minister Devendra Fadnavis said the state is set to build its first Innovation City near Mumbai, aimed at attracting multiple investors and global innovation ecosystems.
Speaking to ANI on the sidelines of the World Economic Forum, Fadnavis said the proposal was presented under the Artificial Intelligence and Innovation Ecosystem theme of the 2025 WEF conference before more than 400 investors. He said the location has now been finalised and the project is expected to begin within 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 USD 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,’ Fadnavis told ANI.
The 56th Annual Meeting of the World Economic Forum is being held from January 19 to 23, 2026, in Davos-Klosters, with nearly 3,000 participants from over 130 countries, including world leaders, CEOs, innovators and policymakers, under the theme ‘A Spirit of Dialogue’.
(ANI)