Godrej Fund Management in India has signed a landmark agreement with the Maharashtra government that promises to inject fresh vitality into India’s thriving content creation ecosystem.

The Memorandum of Understanding signed with Maharashtra Chief Minister Devendra Fadnavis at the World Vision and Entertainment Summit (WAVES) meeting in Mumbai, outlines the plans for the cutting-edge film, television and media campuses of Panvel Godrej City. Mumbai is the capital of Maharashtra in western India and is home to the Hindi Bollywood film industry.

The total investment tag of the project is 2 billion rupees (about US$236 million) and is expected to create jobs for approximately 2,500 professionals in various disciplines. Phase 1 alone will see an investment of about $59 million on a 10-acre parcel.

This is the second major infrastructure agreement signed with the Maharashtra government during the waves, second only to a $400 million entertainment hub with Prime Focus Group.

The development is strategically located in Godrej City, a self-sustaining township spread over about 145 acres of land with 30 acres of 9-hole golf courses. The location offers major connectivity advantages, a short drive from the upcoming Navi Mumbai International Airport and the Mumbai-Pune Expressway. The recently operated Atal Setu (Trans Harbour Link in Mumbai) further enhances access to South Mumbai.

This could greatly boost India’s position as one of the world’s largest content producers, with the campus going to house AA Studios, a studio designed to be the creative core of artists, musicians and filmmakers. The facility is expected to be consistent with the Indian government's recent incentives for foreign film production and has the potential to attract international projects to the Indian coast.

Under the terms of the agreement, the Maharashtra government will simplify the necessary authority, registration, approval and financial incentives for relevant state departments to develop campuses.

The development is designed with future preparation in mind, with leading international experts working to create facilities equipped with cutting-edge technologies, including AI integration. In addition to direct employment in content production, the project is expected to stimulate growth in hotels, technical services and tourism industries while increasing foreign exchange revenue.

“This initiative marks a meaningful partnership with the Maharashtra government to promote innovation, creativity and employment,” said Karan Bolaria, MD, of Godrej Fund Management. “Aligned with the vision of Mumbai 3.0, we aim to build a vibrant ecosystem that attracts global talent, empowers local creators and position them as cultural and business hubs.”

Godrej is one of the most famous conglomerates in India. Its real estate investment arm, Godrej Fund Management, has partnered with global investors and has quickly become a major player in the Indian institutional real estate market, Marquee development projects in Mumbai, Bangalore and Delhi.