Maharashtra Signs MoUs With JSW Energy and Torrent Power for Nuclear Projects

Maharashtra has signed MoUs with JSW Energy and Torrent Power to develop two major nuclear power projects in Ratnagiri district, totaling 4,200 MW capacity and ₹79,000 crore investment. These projects are expected to generate nearly 11,700 jobs and mark a significant expansion of the state’s clean energy infrastructure.

Maharashtra is rapidly emerging as India’s nuclear power hub, with multiple projects underway — from Asia’s first nuclear station at Tarapur to new MoUs with JSW Energy and Torrent Power, plus mega‑scale proposals like Jaitapur (9,900 MW) and recent 25,400 MW agreements with Reliance, Adani, NTPC, and Bajaj. Together, these initiatives could add over 30,000 MW of nuclear capacity and attract investments exceeding ₹6 lakh crore. 

Key Details of the MoUs

• JSW Energy Project
  Location: Bhiv Bunder, Aghari village, Dapoli taluka, Ratnagiri district
  Capacity: 2,800 MW (four units of 700 MW each)
  Investment: ₹44,000 crore
  Employment: 8,000–10,000 jobs
  Development: Planned in two phases of 1,400 MW each
  
• Torrent Power Project
  Location: Ratnagiri district or another suitable site in Maharashtra
  Capacity: 1,400 MW (two units of 700 MW each)
  Investment: ₹35,000 crore
  Employment: ~1,700 jobs
  

Strategic Significance

• Total Capacity: 4,200 MW nuclear power addition
• Total Investment: ₹79,000 crore
• Jobs Created: ~11,700 direct and indirect
• Policy Context: Enabled by the SHANTI Act (2025), opening nuclear energy to private investment
• Energy Role: Nuclear power will provide stable baseload electricity, complementing solar, wind, and pumped-storage projects

Comparison Table

Project	Capacity	Investment	Jobs	Location
JSW Energy	2,800 MW	₹44,000 crore	8,000–10,000	Bhiv Bunder, Ratnagiri
Torrent Power	1,400 MW	₹35,000 crore	~1,700	Ratnagiri/alternate site
Combined	4,200 MW	₹79,000 crore	~11,700	Maharashtra

Risks & Challenges

• Regulatory Approvals: Extensive environmental and safety clearances required
• Timeline Uncertainty: Final site selection and implementation schedules pending
• Local Impact: Community resistance and land acquisition challenges possible
• Financial Risks: High upfront capital costs could strain financing if delays occur

Outlook

These MoUs position Maharashtra as a front-runner in India’s nuclear expansion, aligning with the national goal of 100 GW nuclear capacity by 2047.

Maharashtra’s nuclear expansion aligns with India’s 100 GW nuclear target by 2047. With Tarapur’s legacy, Jaitapur’s scale, and private sector participation under the SHANTI Act (2025), the state is positioning itself as the epicenter of India’s clean, reliable baseload power future.

NODWIN Gaming Announces SpaceFest; India's Ist Dedicated Space, Science & Sci-Fi Festival, Backed by Maharashtra Govt.

SpaceFest will bring together global leaders, space startups, policymakers, creators, students and space enthusiasts for one-of-its-kind experience that blends knowledge, innovation, and Science fiction entertainment under one roof

NODWIN Gaming, a global leader in new-age youth entertainment, gaming and esports, announced the launch of SpaceFest during the press conference held at Trident, Mumbai. Backed by the Government of Maharashtra, it will be India’s first large-scale event dedicated to space, science, innovation and space-inspired pop culture, aiming to create a platform that brings knowledge and entertainment together.

The conference was attended by eminent guests including Hon'ble Minister Dr. Uday Samant, Industries, Investment and Services Department, Dr. P Anbalagan, IAS, Principal Secretary (Industries, Investment & Services) at Government of Maharashtra, Shri Deependra Singh Kushwah, IAS, CEO of MIDC Mumbai alongwith Aarti Harbhajanka, Co-Founder and MD, Primus Partners India and Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, who conceptualised the IP.

Inspired by Prime Minister Narendra Modi’s vision for India’s space economy and supported by the Government of Maharashtra, SpaceFest aims to be a flagship platform celebrating space exploration, innovation and discovery, while enabling Maharashtra’s space-tech startups to showcase innovations, forge partnerships and connect with global industry leaders and investors.

Guest of honor, Mr Uday Samant, at the press conference said, "For me, space was always associated with missions like Chandrayaan and the achievements of ISRO and NASA. But SpaceFest has made me realise the immense interest and potential this sector holds, especially among India’s students and youth. I am proud that Maharashtra is taking the lead with this initiative. I propose that Space Fest be held in February, giving us more time to create employment opportunities and strengthen the ecosystem. Our vision is to position Maharashtra not only as a leader in India’s space sector, but as a global space hub. The space economy has the potential to generate lakhs of crores, and we are committed to bringing a significant share of this opportunity to Maharashtra. We will take every step necessary to make this vision a reality.”

Key dignitary Dr. P Anbalagan IAS Principal Secretary (Industries, Investment & Services) at Government of Maharashtra, unveiled the SpaceFest launch video and expressed his support towards the initiative. He mentioned,, "Nearly 25% of India’s aerospace, defence and navigation systems are manufactured in Maharashtra, and the state is also the first to have an independent aerospace policy that includes space technology. With India’s space-tech sector currently valued at around $8.5–9 billion and projected to reach $100 billion by 2040, the opportunity is significant. For any sector to grow, it needs the right ecosystem of stakeholders, agencies, international institutions, R&D and capital. SpaceFest is not just a three-day event; it is the beginning of a larger journey for Maharashtra. It will help nurture new talent and create opportunities for young people who are passionate about the space sector. It is our responsibility to guide them, provide the right exposure and help them build careers in this growing industry.”

Shri Deependra Singh Kushwah, IAS, CEO of MIDC Mumbai, further added, “As a state, we want to position Maharashtra at the centre of India’s growing space ecosystem. We want to build a strong ecosystem where space-tech startups can grow, scale and access unique opportunities. MIDC is also driving this transformation by supporting the sector’s growth. Our focus is on better policies, stronger startup support and a robust innovation ecosystem. This is part of our larger vision, to create an environment where innovation and investment can thrive, and Maharashtra can emerge as a leading hub for the space sector.”

Sharing his excitement about the launch, Akshat Rathee, Co-founder and Managing Director, NODWIN Gaming, expressed, “I truly believe India’s time has come. When I met Dr. P. Anbalagan and shared this idea, it immediately resonated with our shared vision of creating opportunities for young Indians to explore and build careers in the space sector. As the ecosystem grows, we will see more industries join, investments increase, and our young talent gain exposure and opportunities. Ultimately, this is about enabling our young people to shine alongside the nation’s growth. That has been the idea behind this initiative, and I am grateful to everyone here for supporting this mission. I am confident that we will see significant progress in India’s space ecosystem in the years ahead.”

Aarti Harbhajanka, Co-Founder and MD, Primus Partners India said, “I am delighted to be part of this mission. Space is no longer limited to government agencies, it is now a growing ecosystem that includes startups, entrepreneurs, students, AI, robotics, deep tech and much more. This is especially significant for Maharashtra. As a knowledge partner, we are committed to supporting the initiative and helping turn ambitious ideas into action. What excites me most is the possibility that 10–15 years from now, today’s children will look back at this moment and remember it as the beginning of something truly historic.”

The initiative by NODWIN Gaming, with Primus Partners as its Knowledge Partner, will offer immersive experiences, keynote addresses and panel discussions from leading figures in both the Indian and global space ecosystems, major policy announcements, international partnerships and MoU signings, and showcases from pioneering space-tech startups.

The festival will also feature dedicated zones celebrating sci-fi, gaming, and space-inspired entertainment, alongside celebrity appearances, fan engagement experiences, investor interactions, student-focused programs, hands-on workshops, hardware exhibits, aerospace technology demonstrations, and exclusive networking opportunities connecting industry leaders, innovators, and entrepreneurs.

For the purpose to encourage students to explore more in this field, a dedicated school outreach programme and college-level innovation challenge will be conducted to lead-up to the main SpaceFest event.

NASA’s recent invitation to the Indian Space Research Organisation (ISRO) to participate in its ambitious plans for a permanent human presence on the Moon underscores India’s growing stature as a global space power. This, combined with the Government’s progressive policy opening the sector to private participation, creates the perfect backdrop for SpaceFest to bring together the people, ideas and technologies shaping the country’s next chapter in space.

The inaugural edition will be held at Nehru Science Centre, with the Government of Maharashtra also planning to install new permanent exhibits at the venue as part of the initiative. Maha Government is also planning to visit international space-tech events to engage with global industry stakeholders and showcase the state’s space-tech vision and ambitions.

The event dates and guest line-up will be updated on the newly launched official website: https://spacefest.in/

Vertiv and IIT Madras Expand Data Center Skills Program to Maharashtra With RTMSSU Partnership

Vertiv's skills development funding program expands into Maharashtra to equip engineering students in data center operations and digital infrastructure management

Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, supports the expansion of IIT Madras Pravartak Technologies Foundation's data center skilling initiative into Maharashtra through its corporate social responsibility (CSR) program. As part of this initiative, IIT Madras Pravartak Technologies Foundation also signed a Memorandum of Understanding (MoU) with the Ratan Tata Maharashtra State Skills University (RTMSSU) in the presence of Maharashtra Governor, Jishnu Dev Varma, during the "Start-up Frontier 1.0" exhibition and conference held at the Y B Chavan Auditorium in Mumbai last July 10, 2026.
Vertiv has partnered with IIT Mumbai, IIT Madras Pravartak Technologies Foundation, and IIT (BHU) to help engineering students build practical skills in data center operations and AI-ready infrastructure. Through hands-on training and industry exposure, these initiatives prepare students for careers in the digital infrastructure industry.
Leveraging its deep expertise in power, cooling, and IT infrastructure, Vertiv will provide free skill development training to 1,500 engineering students in data center operations and digital infrastructure management in 2026. This builds on the collaboration launched by Vertiv and IIT Madras Pravartak Technologies Foundation in 2025 to strengthen India's pipeline of skilled talent for the rapidly growing digital infrastructure sector. RTMSSU will leverage its network of pre-incubation centers across 60 colleges in Maharashtra to extend the program's reach. Students will receive certified online training along with internship and mentorship opportunities designed to prepare them for careers in data center operations and digital infrastructure management.
Speaking about the initiative, Dr. A S Prasad, vice president product management and engineering, Vertiv India, said,
"India's digital infrastructure growth is creating increasing demand for professionals with specialized skills in data center operations and management. At Vertiv, we believe that building this talent pipeline requires close collaboration between the academia and industry. Through this initiative, we provide engineering students with practical knowledge, industry exposure and the skills needed to contribute to India's evolving digital infrastructure ecosystem. We are pleased to support IIT Madras Pravartak Technologies Foundation and Ratan Tata Maharashtra State Skills University in expanding this program to Maharashtra and enabling more students to prepare for careers in this high-growth sector."
Dr. M.J. Shankar Raman, chief executive officer, IIT Madras Pravartak Technologies Foundation, added,
"As artificial intelligence continues to redefine industries and economies, data centers have become central to this digital transformation. This rapid growth has created an urgent need for skilled specialists who can operate and maintain these essential facilities. Through this program, we are dedicated to building a workforce that supports India's AI ambitions with the technical talent required to sustain them."
For more information about Vertiv and career opportunities, visit Vertiv.com.

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About Vertiv

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com

Forward-looking statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Those risk factors could cause actual results to differ materially from historical performance. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

About IIT Madras

Indian Institute of Technology Madras (IITM) was established in 1959 by the Government of India as an 'Institute of National Importance.' The activities of the Institute in various fields of Science and Technology are carried out in 18 academic departments and several advanced interdisciplinary research academic centres. The Institute offers undergraduate and postgraduate programmes leading to B.Tech., M.Sc., M.B.A., M.Tech., M.S., and Ph.D. degrees in a variety of specializations. IITM is a residential institute with more than 650 faculty and 10,000 students, with students from 18 countries enrolled. IITM fosters an active entrepreneurial culture with strong curricular support and through the IITM Incubation Cell. In 2023, IIT Madras became the first IIT to establish an international campus, in Zanzibar, Tanzania, called 'IIT Madras Zanzibar.'

IIT Madras Pravartak Technologies Foundation

IITM Pravartak Technologies Foundation is a Section 8 company housing the Technology Innovation Hub on Sensors, Networking, Actuators, and Control Systems (SNACS). It is funded by the Department of Science and Technology, Government of India, under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), and is hosted as a Technology Innovation Hub (TIH) by IIT Madras. The NM-ICPS is a comprehensive Mission aimed at complete convergence with all stakeholders by establishing strong linkages between academia, industry, Government, and International Organizations.

Ratan Tata Maharashtra State Skills University (RTMSSU)

Ratan Tata Maharashtra State Skills University (RTMSSU) is a state skills university set up by the Government of Maharashtra to expand vocational and technical skilling, entrepreneurship, and innovation capacity across the state, including through pre-incubation centers established across 60 affiliated colleges.

For media inquiries, please contact:

Himanshu Gonsola
Adfactors PR
E: Himanshu.gonsola@adfactorspr.com
MEDIA CONTACT FOR IIT MADRAS
IIT Madras Media Cell — Email: media.iitmadras@imail.iitm.ac.in / Landline: 044 2257 9785
MEDIA CONTACT FOR RTMSSU
Email – contact@mssu.ac.in | Phone: 8655946646/47

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Vertiv News Release

Toyota to Build $2.1B SUV Plant in India, Production Starts 2029

Toyota Motor Corporation has announced a ₹20,000 crore investment to build a new SUV manufacturing plant in Bidkin, Maharashtra, with a capacity of 100,000 vehicles annually. Production will begin in the first half of 2029, creating around 2,800 jobs and expanding Toyota’s total India capacity to nearly 450,000 units.

It is to be noted that the $2.1B valuation is not Toyota’s official disclosure but a state government estimate converted into USD. The $2.1B figure derived from Maharashtra’s confirmed investment figure of ₹20,000 crore for Toyota’s new SUV plant, converted using the latest May 2026 exchange rate of ~₹95.2 per USD, which equals about $2.1 billion.

The new Toyota plant will be positioned to steadily deliver vehicles not only to customers in India but also to customers in surrounding regions.

Plant Details

• Location: Bidkin Industrial Area, Maharashtra
• Capacity: 100,000 vehicles per year
• Start of Operations: First half of 2029
• Jobs Created: Approx. 2,800 direct positions
• Production Focus: A new SUV model, targeting India’s SUV market and exports

Strategic Significance

• India Expansion: Raises Toyota’s total India capacity to ~442,000 units
• SUV Boom: SUVs account for over half of India’s passenger vehicle sales
• Export Role: Facility to serve domestic and regional markets

Investment & Economic Impact

• Estimated Investment: ₹20,000 crore
• Local Benefits: Boost to Maharashtra’s automotive supply chain
• Greenfield Project: Toyota’s first major greenfield investment in India in over a decade

Toyota’s India Portfolio

• Current Models: Innova HyCross, Innova Crysta, Fortuner, Legender, Camry Hybrid, Urban Cruiser Hyryder, Hilux
• Future Line-up: Compact SUV (possibly Land Cruiser FJ), affordable Innova variant, electric MPV, Corolla Cross SUV, next-gen Fortuner

Industry Context

• Competitors Expanding: Suzuki plans >1 million unit expansion by 2030; Honda investing ₹1,200 crore in Rajasthan for EV rollout
• Policy Alignment: India’s push for hybrid, EV, and ethanol-based vehicles aligns with Toyota’s global “Beyond Zero” sustainability vision

Quick Comparison: Toyota’s India Plants

Plant Location	Start Year	Capacity	Key Models Produced
Bidadi Plant 1 (Karnataka)	1999	132,000	Innova HyCross, Innova Crysta, Fortuner, Legender
Bidadi Plant 2 (Karnataka)	2010	210,000	Camry Hybrid, Urban Cruiser Hyryder, Hilux
Bidkin Plant (Maharashtra)	2029 (planned)	100,000	New SUV (likely compact off-roader)

This expansion underscores Toyota’s long-term bet on India’s SUV-led growth story and positions Maharashtra as a major automotive hub.

Accenture Expands Global Footprint with ₹325 Crore Pune GCC Lease

Accenture has leased over 600,000 sq ft of office space at Phoenix Millennium Towers in Baner, Pune, to set up a new Global Capability Centre (GCC). The ₹325 crore, 15‑year deal is one of the largest commercial real estate transactions in Pune this year, with full operations expected by June 2026.

• Location: Phoenix Millennium Towers, Baner, Pune
• Size: 600,000+ sq ft across nine floors
• Lease Tenure: 15+ years
• Value: Approx. ₹325 crore
• Phases: Occupation in two phases, completing by June 2026
• Purpose: Establishment of a Global Capability Centre (GCC)

Why Pune for GCCs:

• Strong IT ecosystem & talent pool
• Lower operational costs compared to Bengaluru and Mumbai
• Rapidly growing business hubs like Baner, Hinjewadi, and Balewadi
• Infrastructure upgrades boosting attractiveness

Industry Context:

• GCCs account for 45.5% of India’s total office leasing demand in Q1 2026
• India’s office market saw 21.5 million sq ft leased in Jan–Mar 2026
• Multinationals view India as a strategic centre for AI, cloud, and digital transformation

Impact on Jobs & Economy:

• Employment boost in software engineering, AI & data analytics, cloud & digital services
• Strengthens Pune’s position as a global tech hub
• Supports local real estate growth and ecosystem development

City	Strengths	Challenges
Pune	Strong talent pool, lower costs, growing hubs	Infrastructure catching up with demand
Bengaluru	Largest IT ecosystem, global recognition	Higher costs, congestion
Hyderabad	Strong infra, govt support, pharma + tech mix	Competition for talent
Gurugram	Proximity to Delhi, strong corporate base	Higher real estate costs

Accenture’s Pune GCC deal is a strategic signal of India’s rising role in global innovation hubs. For Pune, this means more jobs, stronger real estate demand, and elevated status as a preferred GCC destination.

Ramky Infra to Build India’s Largest Integrated Life Sciences City at Dighi Port

Ramky Infrastructure Limited (RIL) today announced the execution of a Concession Agreement between the Maharashtra Industrial Development Corporation (MIDC) and Maha Integrated Life Sciences City Limited (MILeS City), a wholly owned subsidiary of Ramky Infrastructure Limited, for the development of a High-Tech Pharmaceutical Park at the Dighi Port Industrial Area in Raigad district, Maharashtra.

The project will be implemented on a Public-Private Partnership (PPP) basis under the Design, Build, Finance, Operate and Transfer (DBFOT) model, with an estimated project cost of INR 3,000 crore excluding the operating income to be generated during the 90 years operation period. The concession period will span 95 years, including a construction period of five years which RIL expects to execute in coming 5 years would form part of the Order Book of RIL aggregating it to INR 13,500 Crores.

The proposed High-Tech Pharmaceutical Park will be developed across approximately 1,000 hectares within the Dighi Port Industrial Area, covering parts of Mangaon and Roha talukas in Raigad district. The project will establish a large-scale integrated development comprising industrial zones, commercial areas, common infrastructure, utilities, internal road networks and designated open spaces.

An Integrated Life Sciences Manufacturing Ecosystem

The project is designed to establish a world-class integrated life sciences manufacturing ecosystem that will provide end-to-end infrastructure and shared facilities for pharmaceutical, biotechnology, and life sciences companies.

Key elements of the proposed development include:

– Integrated infrastructure and advanced utilities, enabling industries to optimise capital investment and improve operational efficiency.

- Innovation-led research and development centres, incubation hubs, and technology transfer platforms to encourage collaboration, capability building, and sectoral innovation.

- Environmentally responsible infrastructure that supports high standards of environmental safety, regulatory compliance, and sustainable industrial operations.

Under the terms of the concession agreement, MILeS City will be responsible for the development, operation, maintenance and management of the project for the entire concession period.

The revenue model for the project will include:

• Land lease premium and lease rental
• Development charges
• Maintenance charges for common infrastructure and services
• Operational charges for utilities and shared facilities

The project is expected to strengthen industrial infrastructure in the region, attract investments into the pharmaceutical and life sciences sectors, and generate significant direct and indirect employment opportunities. It is also anticipated to stimulate growth in ancillary industries and local businesses across the surrounding areas.

Following the execution of this concession agreement, the order book position of Ramky Infrastructure Limited stands at approximately INR 13,500 crore, reflecting the company’s continued momentum in large-scale infrastructure and industrial development projects.

Commenting on the development, Mr. Sunil S Nair, CEO, Ramky Infrastructure Limited said, “This agreement marks a significant milestone not only for industrial development, but for the wider communities and businesses that stand to benefit from it. By creating a large-scale integrated life sciences ecosystem at Dighi Port Industrial Area, we see an opportunity to support employment generation, strengthen regional infrastructure, encourage innovation, and attract long-term investment into Maharashtra. The project is designed to enable pharmaceutical and biotechnology companies to grow within a well-supported and globally competitive manufacturing environment."

About Ramky Infrastructure Limited

Ramky Infrastructure Limited is the flagship infrastructure development company of the Ramky Group and has been a prominent player in the infrastructure sector since its establishment in 1994. The company has successfully delivered a wide range of projects spanning industrial infrastructure, water and wastewater treatment, roads, bridges, and urban infrastructure development.

Headquartered in Hyderabad, the company operates across India and international markets with a team of more than 2,000 professionals.

Ramky Infrastructure Limited is certified under ISO 9001:2015 (Quality Management Systems), ISO 14001:2015 (Environmental Management Systems), and ISO 45001:2018 (Occupational Health and Safety Management Systems), which guide the company’s practices in design, engineering, procurement, and construction of infrastructure projects.

Satellite Technology Helps Detect ₹217 Crore Fake Crop Insurance Claims in Maharashtra

Representative Image

Authorities in Maharashtra uncovered a massive irregularity in crop insurance claims worth nearly ₹217 crore by using satellite imagery to verify farmland data, reported Lokmat, a Marathi-language publication. Lokmat published its report on February 13, 2026, highlighting how satellite checks exposed fraudulent banana crop insurance claims in Jalgaon district. Below are key details - 

Key Details

• Location: Jalgaon district, Maharashtra
• Scheme: Weather-based fruit crop insurance for the Ambiya Bahar season (2025–26)
• Discovery: Claims were filed for about 44,041 hectares supposedly under banana cultivation. Satellite checks revealed no banana crops on those lands.
• Trigger: An unusual surge in insurance applications for banana crops prompted the probe in February 2026.
• Significance: This was the first large-scale satellite-based verification of crop insurance in the state, exposing fraudulent claims and saving public funds.

Why It Matters

• Transparency: Satellite monitoring adds a strong layer of accountability to agricultural insurance schemes.
• Prevention of fraud: Detecting false claims helps ensure that genuine farmers benefit.
• Policy impact: This case may push for wider adoption of remote sensing and geospatial technology in crop insurance across India.

The Satellite Technology 

Satellite imagery is a powerful tool for detecting fraud in crop insurance because it provides objective, time-stamped evidence of what is actually growing on the land. Here’s how techniques like NDVI analysis and seasonal crop mapping are applied:

NDVI (Normalized Difference Vegetation Index)

• Principle: NDVI measures plant health by comparing how vegetation reflects near-infrared (NIR) light versus absorbing red light.
• Formula: (NIR - RED) / (NIR + RED)
• Interpretation:
  • Values close to +1 → healthy, dense vegetation.
  • Values near 0 → stressed plants or sparse vegetation.
  • Values below 0 → bare soil, water, or non-vegetated surfaces.
• Application in fraud detection: If insurance claims say banana crops are present, but NDVI values show bare soil or non-vegetation, authorities can flag false claims.

Seasonal Crop Mapping

• Method: Multi-spectral satellite images are collected over time to track crop growth stages.
• Crop signatures: Each crop has a unique spectral and temporal growth pattern (e.g., banana vs. wheat).
• Verification: By comparing claimed crop type with actual spectral signatures, mismatches can be detected.
• Example: In Jalgaon, satellite mapping showed no banana growth cycles across 44,041 hectares, despite claims.

AI & Deep Learning Enhancements

• Yield prediction: Models trained on historical weather, soil, and crop data can forecast expected yields.
• Claim validation: If reported yields or crop presence deviate sharply from satellite-based predictions, fraud is suspected.

Why It Works

• Scalable: Covers large areas quickly, unlike manual surveys.
• Tamper-proof: Satellite data is time-stamped and independent.
• Cost-effective: Prevents massive financial losses by catching fraudulent claims early.

This combination of NDVI analysis, spectral crop mapping, and AI-driven yield prediction is transforming crop insurance verification in India, making fraud detection faster and more reliable.

Adani Group Bets Big: ₹70,000-Cr Clean Energy Project Near Nagpur

Jeet Adani has announced a ₹70,000 crore integrated coal gasification and chemical project at Linga in Kalmeshwar near Nagpur, unveiled during the Advantage Vidarbha 2026 summit.

The ₹70,000 crore investment is part of a long-term roadmap to make Vidarbha a hub for clean energy, industrial manufacturing, and integrated logistics.        

• Scale & Investment: ₹70,000 crore in the first phase, with plans for a second phase of equal investment.
• Employment Impact: Around 30,000 direct jobs expected.
• Outputs: The plant will produce syngas, ammonia, and hydrogen, strengthening India’s clean energy and chemical manufacturing base.
• Strategic Importance: Positions Nagpur as a global hub for advanced chemical manufacturing and clean-energy technologies.
• Regional Development: Vidarbha’s central location and resource base make it a natural choice for industrial expansion, logistics, and technology growth.
• Policy Backing: Adani credited central and state government initiatives, aligning with Prime Minister Narendra Modi’s development agenda.

This project is being described as one of the largest clean-energy-linked investments in central India, potentially transforming Nagpur into a strategic hub for energy independence and advanced manufacturing.

Saatvik Green Energy Secures ₹13.50 Crore Order for 815 Solar Water Pumps from MSEDCL under PM-KUSUM Scheme

Saatvik Green Energy Limited, one of India’s fastest-growing renewable energy companies, has received an order from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for the design, manufacture, supply, transportation, installation, testing, and commissioning of off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across identified farmer sites in Maharashtra.

The order, awarded under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM-B scheme, involves the supply of 815 solar water pumps of 3 HP, 5 HP, and 7.5 HP capacity, with a total order value of approximately ?13.50 crore (exclusive of GST).

Under the scope of the contract, Saatvik Green Energy Limited will also provide complete system warranty, repair and maintenance services, and a remote monitoring system for a period of five years, ensuring long-term performance reliability for farmers. Installation and commissioning of the systems will be completed within 60 days from the date of issuance of the Notice to Proceed (NTP) / work order by the respective circle office.

Commenting on the development, Prashant Mathur, CEO, Saatvik Green Energy Limited, said: “Solar irrigation is one of the most direct ways clean energy can positively impact farmers’ livelihoods. This order from MSEDCL reflects growing confidence in Saatvik’s ability to deliver reliable, domestically manufactured solar solutions at scale, while supporting national programs such as PM-KUSUM. India’s clean-energy journey must be inclusive, reaching beyond cities and utility-scale projects into rural and agricultural ecosystems. Through our solar pump solutions, we are contributing to nation-building by enabling sustainable farming practices and long-term energy independence for farmers.”

This development reinforces Saatvik’s growing presence in India’s solar pump and decentralized energy segment, a critical pillar in enabling energy-secure, cost-efficient, and sustainable irrigation solutions for the agricultural sector.

Solar water pumps reduce farmers’ dependence on diesel and grid electricity, lower operating costs, and contribute to water-use efficiency, that are key priorities for India’s rural economy.

With a rapidly expanding portfolio spanning solar modules, solar inverters, EPE film manufacturing, EPC solutions, and decentralized applications such as solar pumps, Saatvik Green Energy Limited continues to strengthen its position as a trusted, integrated clean-energy partner, aligned with India’s push for self-reliant, reliable, and domestically manufactured renewable energy solutions.

About Saatvik Green Energy Limited

Founded in 2015, Saatvik Green Energy Limited is a leading Indian renewable energy company offering end-to-end solar solutions across manufacturing and deployment. The company serves utility-scale, commercial, residential, and agricultural segments, supporting India’s transition towards a sustainable and energy-secure future. The Company operates a 4.8 GW module manufacturing facility in Ambala, Haryana. Saatvik is also developing a greenfield integrated facility in Odisha with 4 GW module and 4.8 GW solar cell manufacturing capacity, positioning the company as a multi-location, vertically integrated player at the core of India’s renewable energy build-out.

Maharashtra Becomes 1st State to Partner with Starlink for Rural Connectivity

Maharashtra has officially become the first Indian state to sign a partnership with Elon Musk’s Starlink for satellite internet, marking a major step in bridging the digital divide across rural and underserved regions. The agreement was formalized on November 5, 2025, through a Letter of Intent (LOI) signed in Mumbai.

Key highlights of the partnership

• Historic first: Maharashtra is the first state in India to partner with Starlink, positioning itself as a pioneer in satellite-based connectivity.
• Digital Maharashtra mission: The collaboration supports the state’s flagship initiative to make the state future-ready by expanding internet access to remote communities.
• High-speed, low-latency internet: Starlink’s satellite technology will deliver fast, reliable internet to areas where traditional telecom infrastructure is limited or absent.
• Focus areas:
  • Rural education: e-learning platforms and school connectivity
  • Telemedicine: remote diagnostics and healthcare access
  • Government services: digital governance and citizen services
  • Disaster resilience: coastal development and emergency connectivity

Who was involved

• Chief Minister Devendra Fadnavis: Led the signing ceremony, highlighting transformative potential for state development.
• Lauren Dreyer (Starlink VP): Attended the event in Mumbai, underscoring Starlink’s commitment to India.
• Starlink Satellite Communications Pvt Ltd: The Indian arm that signed the LOI.

Strategic implications

• Complementary to telecom: Meant to fill connectivity gaps rather than replace existing providers.
• Digital inclusion: Expected to reduce the digital divide and enable access to education, e-commerce, and government services.
• Global signal: Indicates India’s openness to next-gen satellite internet solutions and may spur other states to follow.

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Broader context

• Last-mile connectivity: Addresses persistent access challenges in rural and tribal regions.
• LEO constellation: Uses low-Earth orbit satellites to leapfrog infrastructure hurdles and accelerate adoption.
• Alignment with DPI: Complements India’s digital public infrastructure like Aadhaar, UPI, and BharatNet.

Summary

Maharashtra’s deal with Starlink is a landmark move that could redefine rural connectivity in India, serving as a test case for integrating satellite internet with national digital strategies.

PM Modi Inaugurates Sunstream’s 140 MWp Solar Project in Maharashtra; Company Targets 1 GW Renewable Portfolio

Honorable Prime Minister Shri Narendra Modi today inaugurated Sunstream Green Energy’s 140 MWp solar project in Maharashtra, as part of the 2,458 MW of renewable energy projects launched nationwide. The Company also announced its plan to develop a 1-gigawatt (GW) portfolio of operating renewable energy assets within the next 18–24 months. This vision builds on Sunstream’s 500 MW project portfolio with 250 MW operational and 250 MW under execution, underlining its strategy of scaling high-quality assets for India’s clean energy transition.

Sunstream Green Energy was founded by Mr Bhadra Kanaiya in 2019 which is backed by Lighthouse Trust Singapore based, emerging market focussed growth fund, “At Sunstream, our work is centered on powering India’s Utility and C&I sector with reliable distributed renewable energy. Our 140 MWp project in Maharashtra reflects our execution strength, while our long-term focus is on helping large corporates and multinational companies achieve their clean energy and net-zero commitments,” said Kanaiya Bhadra, Founder & CEO, Sunstream Green Energy.

The launch of 2,458 MW of solar projects by Prime Minister Modi marks a major step in India’s journey toward energy independence and net-zero by 2070. With PM-KUSUM the world’s largest distributed renewable energy program and initiatives such as Maharashtra’s Mukhya Mantri Saur Krushi Vahini Yojana (MSKVY), India is building a model that combines clean power growth with economic empowerment.

Sunstream Green Energy’s strategic focus is to be the partner of choice for Corporate & Industrial customers, including listed entities and multinational corporations. By delivering cost-effective and scalable renewable power solutions, the company enables its customers to lower energy costs, enhance competitiveness, and meet global sustainability commitments such as RE100 and net-zero goals. With its growing expertise in hybrid and storage-backed solutions, Sunstream is also enabling corporates to secure reliable round-the-clock clean power for their operations.

Backed by a Lighthouse Trust, Singapore-based fund, Sunstream Green Energy is well-capitalized to expand its footprint. The company is actively developing projects that integrate solar, wind, and energy storage, strengthening its position as a trusted partner for corporates in their net-zero transition.

Sachin-Backed RRP Electronics to Build One of India’s Largest Semiconductor Fabs in Navi Mumbai

• Company is going to set up fab facility with a capacity of 1.25 lakh wafers per month

RRP Electronics, a leading-edge powerhouse in semiconductors and backed by cricket legend Sachin Tendulkar, has secured 100 acres in Navi Mumbai as Chief Minister of Maharashtra Devendra Fadnavis presented Letter of Comfort for relocating a semiconductor fab from one of the world’s most established semiconductor companies in Sherman, Texas.

Devendra Fadnavis, Chief Minister lauding the development said, "This allotment of land firmly positions Maharashtra at the heart of India’s Semiconductor Mission roadmap. Our government is fully committed to extending all necessary support; be it in infrastructure, policy facilitation or skill development to ensure the success of this initiative.

The establishment of such a facility will not only accelerate industrial growth but also create significant employment opportunities, strengthen local supply chains and reinforce Maharashtra’s leadership as a hub for high-technology manufacturing in India.”

Mr. Rajendra Chodankar, Chairman of RRP Electronics Ltd said, “We are thankful to the Government of Maharashtra and Honourable Chief Minister and his team for the continued encouragement and support towards enabling Maharashtra in taking pioneering initiatives for the semiconductor ecosystem. This acquisition is a landmark step in our journey to make India self-reliant in semiconductors.”

A year after the launch of Maharashtra's first OSAT (Outsourced Semiconductor Assembly and Test) semiconductor manufacturing facility in Navi Mumbai, this marks a significant leap in RRP's growth journey, as one of the region’s largest and most advanced fab facility with a capacity to produce 1.25 lakhs wafers per month. Together, these steps place Maharashtra and India at the forefront of the global semiconductor value chain.

About RRP Electronics

RRP Electronics Ltd. stands at the forefront of cutting-edge packaging technologies, offering innovative solutions in semiconductor packaging. With a dedication to excellence, sustainability, and continuous advancement, RRP Electronics is committed to meeting the ever-evolving needs of the electronics sector. The company’s focus on providing high-performance and reliable packaging solutions positions it as a leader in propelling the technology landscape forward.

Maharashtra Partners with AEEE to Boost Energy Efficiency and Decarbonisation Under Climate Action Plan

The Alliance for an Energy Efficient Economy (AEEE) and the State Climate Action Cell (SCAC), Department of Environment and Climate Change, Government of Maharashtra, announced a Memorandum of Understanding (MoU) today to establish a strategic framework supporting the State Action Plan on Climate Change (SAPCC).

The MoU aims to drive decarbonisation and reduce emission intensity by strengthening energy efficiency and demand-side management across key sectors such as buildings, industries, space cooling, and cold chains. This marks a significant step forward in advancing Maharashtra’s climate action.

This announcement was made at a Regional Dialogue convened by the India Cooling Coalition (ICC), titled “How Maharashtra is Building Next-Gen Cooling Infrastructure and Capacity.” The event brought together public and private sector experts, implementation partners, and members of the media, reaffirming Maharashtra’s leadership in advancing climate-resilient cooling solutions.

Abhijit Ghorpade

Announcing the MoU, Shri Abhijit Ghorpade, Director, State Climate Action Cell, Government of Maharashtra, said, "Maharashtra is committed to acting decisively and urgently on climate change. Our partnership with AEEE, and our growing engagement with the India Cooling Coalition, is a step toward scaling sustainable solutions that are suited to Indian conditions. As the state aspires to become India’s first trillion-dollar economy by 2028–30, we must integrate long-term, low-carbon strategies into our growth model. Through the revised State Action Plan on Climate Change and strengthened climate action at the grassroots, we are setting the direction for a climate-resilient future."

The Coalition also explored the urgent need for climate-aligned cold chain solutions in India’s agriculture and food systems, especially to tackle high post-harvest losses in perishable crops like fruits and vegetables. Maharashtra alone produces over 28.8 million tonnes of horticultural output annually, but loses an estimated 2.1 million tonnes to inadequate storage and handling.

A central theme throughout the dialogue was the critical need for robust and accessible cooling infrastructure, particularly in light of India's significant post-harvest losses, estimated between 6.02% to 15.05% for fruits and 4.87% to 11.61% for vegetables. Discussions highlighted the practical application of various support mechanisms, drawing insights from comprehensive resources like the Micro Cold Storage Schemes: A User-Friendly SOP Guide. Developed by the Alliance for an Energy Efficient Economy (AEEE), this guide compiles the key government schemes supporting micro cold chain infrastructure, bringing together scheme-wise Standard Operating Procedures (SOPs), eligibility criteria, documentation requirements, and step-by-step guidance in one accessible resource. It is designed to benefit smallholder farmers, Farmer Producer Organisations (FPOs), cooperatives, rural entrepreneurs, resource institutions, and financial institutions – helping unlock timely access, increase awareness of available support, and drive broader adoption of climate-smart, energy-efficient cold chain solutions that can transform outcomes for farmers and rural communities.

“Resources like this are crucial to turning policy promises into real progress,” said Khushboo Gupta, Principal Research Associate, AEEE. “By simplifying complex processes, they bridge the gap between intent and implementation – ensuring that support actually reaches those who need it most, especially smallholder farmers and grassroots enterprises.”

The Coalition also addressed critical areas such as passive cooling, thermal comfort in buildings and appliances, and innovating cold chains for a climate-resilient Maharashtra. These discussions showcased Maharashtra's leadership in modernising cold chains for the agri and fisheries sectors, scaling indigenous cooling technologies, and proactively shaping policy for sustainable cooling transitions, including the implementation of urban cool roofs.

This event, held on 7 August – a day observed as MS Swaminathan Day – also underscored India’s commitment to agricultural innovation and food security, building on the legacy of the ‘Father of the Green Revolution’ to drive climate-resilient transformation in the years ahead.

$50 Billion Worth of Investments Announced at India Global Forum’s ‘NXT25’ in Mumbai

In a major boost to investment and economic growth, Memoranda of Understanding (MoUs) worth approximately $50 billion USD were announced today between the Government of Maharashtra and leading domestic and global investors at the India Global Forum’s ‘NXT25’ Summit, held at the Jio World Convention Centre in Mumbai.

The Mumbai Metropolitan Region Development Authority (MMRDA) signed five major MoUs for infrastructure development in the Mumbai Metropolitan Region, with a total commitment of $49.02 billion USD, including:

• $18.09 billion USD with Housing and Urban Development Corporation Ltd. (HUDCO)
• $12.06 billion USD with REC Limited
• $12.06 billion USD with Power Finance Corporation Limited (PFC)
• $6.03 billion USD with Indian Railway Finance Corporation Ltd. (IRFC)
• $843 million USD with National Bank for Financing Infrastructure and Development (NaBFID)

In a major consumer sector investment, Magnum Ice Cream Company, a division of Unilever and the world’s largest ice cream brand group, signed an MoU to:

• Establish its India headquarters in Mumbai, which will serve as the regional HQ for the Middle East, Turkey, and South Asia (METSA)
• Set up a Global Capability Center (GCC) in Pune with an investment of ₹900 crore (~$108.4 million USD), aimed at consolidating global business services and innovation. The facility is expected to create over 500 direct jobs by 2029

Speaking ahead of the India Global Forum’s NXT25: Leading the Leap Summit in Mumbai, Maharashtra Chief Minister Devendra Fadnavis laid out an ambitious roadmap for the state’s economic and infrastructural growth. In a Q&A with Bloomberg TV’s Haslinda Amin, he was asked about the high debt levels in the state of Maharashtra. He said, "In India, Maharashtra has the best fiscal health. If you look at other states’ fiscal health—our fiscal deficit is below 3%, and our entire debt is just 17% of the GDP."

Speaking on the investor sentiments in the backdrop of global events, he highlighted, “Today is better than yesterday and tomorrow will be better than today. We are interacting with our investors; they are confident and bullish.”

Maharashtra’s Deputy Chief Minister highlighted the state’s growth story and mentioned, “Mumbai is the growth engine of India. We are making Mumbai and Maharashtra smarter. Our vision is to make Maharashtra a launchpad for India’s economic leap in the future.”

Earlier, Manoj Ladwa, Founder and Chairman of India Global Forum, highlighted the role of youth in shaping future-forward dialogues and driving change and said, “We look forward through the eyes of the next generation to a dynamic and globally savvy next gen which is leading the leap in some remarkable ways. Unapologetically bold, ambitious and patient to change the world they brought fresh energy and a sharpening sense of urgency to this platform.

Bringing together CEOs, policymakers, global investors, and industry disruptors, NXT25 explores the biggest trends shaping India’s future on the world stage, spotlighting India’s ambitions for the next 25 years and its emergence as a global powerhouse in investment, technology, sustainability, and innovation.

For session highlights and speaker insights, click here. 

The summit is supported by the UK Government, Government of Maharashtra, and the Commerce Ministry of India. Bloomberg TV is the official international media partner.

AWS to Invest $8.2 Bn in Maharashtra

AWS has announced a significant investment of $8.2 billion in Maharashtra over the next few years. This investment aims to enhance AWS's infrastructure in India by deploying advanced graphical processing units (GPUs) and establishing state-of-the-art compute facilities and cloud management services. The move is expected to create substantial employment opportunities and contribute to India's growing digital economy.

This investment is part of AWS's larger plan to invest $12.7 billion across India by 2030 to meet the increasing demand for cloud services and artificial intelligence. The commitment to Maharashtra is likely to bolster the state's position as a tech hub and drive economic growth.

AWS's $8.2 billion investment in Maharashtra will focus on several key projects:

• State-of-the-Art Compute Facilities: AWS plans to establish advanced computing facilities equipped with the latest technologies, including graphical processing units (GPUs) to enhance their cloud infrastructure.
• Cloud Management Services: The investment will also include the development of sophisticated cloud management services to support the growing demand for cloud solutions in India.
• Employment Growth: This investment is expected to create significant employment opportunities in the region, contributing to the local economy.
• Innovation City: AWS's investment aligns with Maharashtra's broader vision of becoming a global capital for data centers, as part of the state's AI-powered 'Innovation City' initiative.

These projects aim to bolster Maharashtra's position as a tech hub and drive economic growth in the region.

Maharashtra Gets Major Economic Boost as CIDCO Signs Landmark MoUs at World Economic Forum, DAVOS

Historic International Educity Launches in Navi Mumbai, Set to Revolutionize Education

In a ground-breaking move, CIDCO (City And Industrial Development Corporation Of Maharashtra Ltd) has signed four landmark Memorandum of Understanding (MoUs) at the World Economic Forum in Davos, Switzerland, under the visionary leadership of Hon'ble CM, Shri. Devendra Fadnavis, and guidance of the Honourable Deputy Chief Minister & Urban Development Minister, Shri. Eknath Shinde, giving a major boost to Maharashtra's economy. Shri. Vijay Singhal, IAS, Vice Chairman & Managing Director, CIDCO, played a pivotal role in facilitating these partnerships.

CIDCO signs four landmark MoUs at WEF 2025, Davos, under the leadership of CM Devendra Fadnavis, Dy CM & Urban Dev. Minister Eknath Shinde, and the pivotal role played by Shri. Vijay Singhal, IAS, VC & MD, CIDCO (Source: CMO Maharashtra Facebook)

Two of these significant MoUs were signed with Eruditus and BookMyShow, creating history in the development of Navi Mumbai. The MoU with Erulearning Solutions Private Limited (Eruditus) is signed for a proposed investment of $2.4 to $3 billion over 10 years, creating 20,000 direct employment opportunities. Meanwhile, the MoU with BookMyShow involves an investment of $204 million to develop an outdoor entertainment arena in Maharashtra, creating 500 job opportunities in the state.

Global Education Hub: Navi Mumbai's International Educity to Attract Students and Faculty from Worldwide

CIDCO has launched the first-ever International Educity in Navi Mumbai, bringing together 8-10 esteemed foreign universities from around the world. CIDCO played a pivotal role in making this initiative a global benchmark. The International Educity in Navi Mumbai is poised to become a global learning hub, offering students from around the world the opportunity to learn from renowned international faculty.

For its commitment to creating a world-class educational hub, CIDCO has identified a prime location for this project, situated within a 5 km radius of the forthcoming Navi Mumbai International Airport. This ambitious initiative aims to create a vibrant academic community, fostering cross-cultural exchange and collaboration among students and educators from diverse backgrounds.

With its focus on innovation, accessibility, and community engagement, this Educity is set to redefine the education landscape in India. In a pioneering initiative, Navi Mumbai will become home to India's first-ever international university campus, featuring 8-10 foreign universities. This project will not only give a new identity to the city but also will help in exponential development of Navi Mumbai.

Navi Mumbai Emerges as India's Ultimate Outdoor Entertainment Arena!

CIDCO has unveiled plans to develop a state-of-the-art Outdoor Entertainment Arena in Navi Mumbai, modeled after iconic venues like Madison Square Garden in New York and The O2 Arena in London. This ambitious project aims to create a unique and unparalleled entertainment experience, setting a new benchmark for the industry.

The proposed venue will host a wide range of events, including concerts, sports, theatre productions, and more, catering to diverse audiences and tastes. To bring this vision to life, CIDCO has partnered with BookMyShow, combining the expertise of two industry leaders to ensure world-class standards and attention to detail.

Located in close proximity to Bollywood, this state-of-the-art outdoor entertainment arena will have a massive capacity of 20,000 seated or 25,000 standing, making it the largest and first-of-its-kind in the country. This iconic venue will become the epicenter of entertainment, hosting concerts, award shows, sports tournaments, and more throughout the year.

Maharashtra’s Economic Growth Strengthened by Two Additional MoUs

These landmark agreements are expected to propel Maharashtra's economy forward, driving growth, employment, and opportunities for generations to come. With CIDCO's commitment to innovative and sustainable development, Maharashtra is poised to become a hub for business, entertainment, and education.

In a significant development, CIDCO has signed two additional MoUs, further bolstering Maharashtra's economy:

• Panchshil Realty: A proposed investment of $3 billion to set up a state-of-the-art data center in the CIDCO area. This project will enhance Maharashtra's digital infrastructure and create new avenues for businesses and entrepreneurs.
• Welspun World: A proposed investment of $183 million in a logistics park, creating 2,000 direct employment opportunities.

With these two MoUs, CIDCO has reaffirmed its commitment to fostering economic growth, innovation, and job creation in Maharashtra. These MoUs will drive progress and prosperity for years to come.

These investments are a testament to Maharashtra's growing reputation as a premier investment hub. The International Educity will feature a diverse range of universities, each specializing in various fields, thereby propelling the education industry forward and enhancing the value of education in national development.

Located near Navi Mumbai International Airport, this International Educity will enjoy proximity to key infrastructure, including Aerocity, Sports City, Medicity, Jawaharlal Nehru Port Trust, and proposed transport corridors.

As the country's first-of-its-kind, this International Educity will serve as a model for future educational hubs, driving growth, employment, and opportunities for generations to come.

Maharashtra Defence and Aerospace Venture Fund (MDAVF) Successfully Exit from Two Portfolio Companies

The Maharashtra Defence and Aerospace Venture Fund (MDAVF), a SEBI-registered Category II Alternative Investment Fund (AIF) managed by IDBI Capital Markets & Securities Limited (ICMS) focused on supporting innovative companies in the defence and aerospace sectors, recently announced its successful exit from two of its portfolio companies, viz., Cyronics Innovation Labs Private Limited (CILPL) and JSR Dynamics Private Limited (JSR Dynamics) realizing ₹14.46 crores and ₹59.15 crores respectively.

 

Mr. Amey Belorkar, Fund Manager - Defence and Aerospace Venture Fund, IDBI Capital Markets & Securities Ltd

 
Mr. Amey Belorkar, Fund Manager - Maharashtra Defence and Aerospace Venture Fund (MDAVF), IDBI Capital Markets & Securities Ltd, speaking about the exits said, “Both, Cyronics Innovation Labs and JSR Dynamics, are instrumental in driving technological progress and self-reliance within India’s defence and aerospace industries with a focus on enhancing the operational effectiveness of defence forces. MDAVF remains focused on supporting India’s journey towards self-reliance by investing in high-potential ventures that foster technological breakthroughs and enhance indigenous capabilities. These milestones reflect the strength of our investment strategy and our ongoing commitment to driving innovation in India’s defence and aerospace sectors. By backing sustainable growth in these critical industries, we’re proud to contribute to India’s defence ecosystem and the vision of Atmanirbhar Bharat.”

MDAVF, to date, has invested approximately ₹406 crore in 22 MSMEs. The fund has successfully executed full and partial exits from 12 companies, realizing divestment proceeds of around ₹281 crore and achieving a strong Internal Rate of Return that highlights the fund's disciplined and strategic approach to value creation.

Cyronics Innovation Labs Private Limited (CILPL)

CILPL, founded in 2020, operates in the AI and Machine Learning sectors, specializing in software-defined radio technologies for the defence and aerospace sectors. CILPL has served leading defence and aerospace organizations, including Kirloskar Oil Engines Ltd., Navstar Integrated Systems Pvt. Ltd. (Navy) and Theta Controls (Army), among others.

JSR Dynamics Private Limited (JSR Dynamics)

JSR Dynamics was founded in 2018 with an intention to contribute in a big way towards achieving self-reliance in the defense sector through indigenous Design, Development and Manufacture. JSR Dynamics is engaged in the development and manufacturing of advanced munitions, including glide bombs and loitering munitions. The company’s products are poised to play a significant role in both Indian and international defence markets.

These exits showcase MDAVF’s commitment to supporting high-potential ventures in the defence and aerospace industry, driving technological advancements, and generating strong returns for its stakeholders. Both exits have been marked by impressive internal rates of return (IRR), underscoring the fund’s effective investment strategy and its ability to identify high-growth companies.

Managed by IDBI Capital Markets & Securities Limited, MDAVF continues to play a transformative role in driving indigenous innovation, fostering self-reliance, and enhancing India’s global competitiveness in the defence and aerospace sectors.

For more information, visit: https://idbicapital.com/aif/Maharashtra-Defence-and-Aerospace-Venture-Fund.html

About IDBI Capital Markets & Securities Ltd (ICMS):

IDBI Capital Markets & Securities Ltd (ICMS), a wholly owned subsidiary of IDBI Bank Ltd., is a registered Portfolio Manager with Securities and Exchange Board of India (SEBI) since 1998 and is authorised to undertake Funds Management activities (Debt & Equity). These activities would be governed by Securities and Exchange Board of India. Presently, ICMS Alternative Investment Fund (AIF) is acting as Investment Manager for two SEBI registered AIF’s and is also the Project Advisor to a Scheme of Government of Maharashtra.

JSW Group to Invest $120 Bn for World's Largest Steel Plant in Maharashtra

JSW Group, led by Chairman Sajjan Jindal, announced an investment of ₹1 lakh crore (approximately $120 billion USD) to build the world's largest steel plant in Gadchiroli, Maharashtra. The plant will have a capacity of 25 million tonnes per annum and is expected to be completed in seven to eight years, with the first phase ready in four years.

Gadchiroli in Maharashtra has significant reserves of high-quality iron ore. The region has significant reserves of high-quality iron ore, with a grade of nearly 64%, making it one of the best sources globally.

The planned Gadchiroli plant will surpass the current largest plant in India, which is the Steel Authority of India Limited (SAIL) plant in Bhilai with a capacity of 7 million tonnes.

The Gadchiroli steel plant will have a capacity of 25 million tonnes per annum, making it the largest in the world.

Iron ore in Gadchiroli was first discovered by Jamshedji Tata in the early 1900s. However, mining activities were limited due to the presence of Maoist insurgents until recent years.

The entire plant is expected to be completed in seven years, with the first phase ready in four years. The plant aims to be the most beautiful and environmentally friendly steel-making facility in the world.

The project is expected to boost employment opportunities and economic growth in the Vidarbha region. This project is part of JSW Group's broader vision to develop the Vidarbha region as a steel hub, which could significantly impact India's steel production and economy.

The state government plans to develop Gadchiroli and the surrounding areas into a steel hub, with multiple steel ventures planned in the district.

Tata Motors Signs MoU with Govt of Maharashtra to Restore 1000 Water Bodies in Over 20 Districts

Reinforcing its commitment to safeguard water resources and uplift rural communities, Tata Motors today signed a Memorandum of Understanding (MoU) with Government of Maharashtra to restore 1000 water bodies in over 20 districts in the water-stressed regions of the state. In 2024, Tata Motors rejuvenated and restored 356 water bodies in Maharashtra by leveraging the Gal Mukt Dharan Gal Yukt Shivar Yojana, a community-based de-siltation programme, in partnership with the Soil and Water Conservation Department of Government of Maharashtra, NAAM Foundation, and local communities.

Strengthening its collaboration, Tata Motors intends to scale the water conservation initiative to over 20 districts in the state, including the water deprived regions of Vidarbha and Marathwada. The proposed collaboration aims to rejuvenate and revive 1000 water bodies in Amravati, Latur, Chandrapur, Nagpur, Nanded, Parbhani, Akola, Gadchiroli, Yavatmal, Dharashiv, Chhatrapati Sambhaji Nagar, Ahilya Nagar, Sangli, Solapur, Pune, Palghar, Thane & other districts of the state. NAAM Foundation will be the implementation partner for the programme.

Tata Motors signed a MoU with the Government of Maharashtra to restore 1000 water bodies in the presence of Devendra Fadnavis – Chief Minister, Maharashtra, Nana Patekar – Chairman, NAAM Foundation, Sushant Naik – Global Head – Government & Public Affairs, Tata Motors and Vinod Kulkarni – Head CSR, Tata Motors

Commenting on the initiative, Vinod Kulkarni, Head of Corporate Social Responsibility at Tata Motors says,

We are immensely proud to have strengthened our partnership with the Government of Maharashtra and NAAM Foundation to address the impact of droughts and water scarcity in the state. The successful rejuvenation and restoration of 356 water bodies in 2024 has encouraged us to scale up the programme to over 20 districts and reach many more villages in Maharashtra. This programme strives to raise the water table, provide access to potable water, make irrigation water available throughout the year, thus improving livelihood for villagers.

Speaking on the initiative, Priya Khan, Officer on Special Duty – Chief Minister’s Office, Government of Maharashtra, said—

The Government of Maharashtra launched the ‘Gal Mukt Dharan, Gal Mukt Shivar Yojana’ to increase water capacity of existing dams and water bodies. This programme has evolved into a people’s movement thanks to the invaluable support of our partner organisations like Tata Motors and NAAM Foundation. Together, we are not just restoring water bodies; we are fostering resilience and sustainability to reduce the impact of recurring droughts in the state.

Ganesh Thorat, CEO – NAAM Foundation, adds, 

The NAAM Foundation began addressing Maharashtra’s acute water shortage in 2015. Our partnership with Tata Motors and the Government of Maharashtra is a significant milestone towards these efforts. Last year we collectively expanded our work to ten districts. We are happy to see that the positive impact of the water conservation efforts will now reach more districts.

In 2024, Tata Motors and NAAM Foundation successfully rejuvenated and revived 356 water bodies, excavating ~ 60 lakh cubic meters of silt across 10 districts of Pune, Palghar, Thane, Satara, Dhule, Solapur, Chandrapur, Ahmednagar, Beed and Latur. This collaborative effort has created a capacity of approximately 7000 million litres of water, benefitting 7,000 farmers and significantly raised the water table and improved access to potable water in rural Maharashtra.

Gal Mukt Dharan Gal Yukt Shivar Yojana provides preapproved funds to the farmer for the silt transportation to their farms, which enhances fertility of the soil. The end-to-end digital monitoring mechanism ensures agility and transparency in project implementation.

The success and impact of the rejuvenation of water bodies in Maharashtra is a testament of Tata Motors’ commitment to sustainable development and upliftment of rural communities.

India's First AI University in Maharashtra Soon, Tech Giants Like Tech Mahindra to Join

Maharashtra is set to establish India's first Artificial Intelligence (AI) university. The state government has formed a task force to plan and implement this ambitious project. Tech Mahindra, along with other industry leaders like Google India, Mahindra Group, and L&T, will be part of this task force.

The AI university aims to promote research and development in AI, enhance AI-driven solutions for governance and industry, and nurture a future-ready workforce.

The state government of Maharashtra has formed a task force to plan and implement the project. This task force includes experts from academia, industry, and government. It is chaired by the Information Technology department's principal secretary, Shri S.V.R.Srinivasan.

The task force comprises directors from prestigious institutions like IIT Mumbai, IIM Mumbai, and representatives from organizations such as Google India, Mahindra Group, L&T, and the Ministry of Electronics and Information Technology. Experts from the Rajiv Gandhi Science and Technology Commission and the Data Security Council of India are also part of the task force.

The upcoming AI university aims to promote research and development in AI and related fields, enhance AI-driven solutions for governance and industry, and nurture a future-ready workforce. It will focus on skill development, technological innovation, and policy formulation.

The initiative aligns with the BJP's election manifesto and PM Modi's vision of 'Viksit Bharat 2047'. The goal is to make Maharashtra a global hub for AI education and innovation.

The university will foster collaboration between industry, academia, and government, positioning Maharashtra as a global leader in AI.

This ambitious project reflects the government's commitment to making Maharashtra a hub for technology and innovation.