Will New Nagpur be successful, or will its fate be like MIHAN's?

 

Recently, the Maharashtra government has showcased its plans to build a new financial centre near Nagpur named Naveen Nagpur, aimed at establishing Nagpur on the global map as the next international business and financial hub. This ambitious plan from the government of Maharashtra is appreciable, as Nagpur was never known as a financial centre. But a major question that arises is, will it be successful, or will it face the same result as MIHAN?

MIHAN was conceptualized in 2002. It was expected to become a major corporate and industrial hub not only in Maharashtra but also in India. But due to Bureaucratic Delays and land acquisition issues, it was never as successful as it was expected to be. It surely has some major IT and Manufacturing companies like HCL, TCS, Infosys, Lupin Pharma, as well as Defence and aerospace companies like Reliance-Dassault Aerospace, Tata Advanced systems and AAR Indamer Technics, but more was expected from this project. Positive news is that some IT companies like Virtual Galaxy Infotech and Essent are supposed to expand their operations in MIHAN. Also, there is news that Dassault Aviation plans to establish a final assembly line at its existing facility in MIHAN.

The Main question here is whether Naveen Nagpur be successful when MIHAN itself is yet to reach its full potential. Should the government develop MIHAN first and then focus on developing Naveen Nagpur? Meanwhile, the Nagpur development authority has assigned the contract to NBCC to develop Naveen Nagpur. We can only hope that this project will establish Nagpur as the next financial hub. Only time will tell how successful Naveen Nagpur will be.