At the CII Annual Business Summit held in New Delhi, Chief Minister Devendra Fadnavis outlined Maharashtra’s long-term economic ambitions, stating that the state aims to become a USD 1 trillion economy by 2030 and emerge as one of the world’s leading regional economies by 2047.
Addressing industry leaders and policymakers, the Chief Minister noted that the global economy is currently navigating multiple disruptions, including technological transformation, energy transition, supply chain shifts, and uncertainties surrounding growth. Amid these challenges, he said India continues to inspire global confidence due to its stability, resilience, execution capabilities, and development-driven vision.
Fadnavis emphasised that states will play a decisive role in achieving the vision of Viksit Bharat, adding that Maharashtra intends to remain at the forefront of India’s economic progress. He highlighted that Maharashtra currently contributes nearly 15 per cent to the national economy and has emerged as one of the country’s strongest investment destinations.
According to the Chief Minister, Maharashtra accounts for nearly 40 per cent of India’s cumulative foreign direct investment inflows and contributes significantly to the country’s engineering exports. He also described the state as India’s leading hub for startups and data centres, while reiterating Mumbai’s status as the nation’s financial, commercial, and entertainment capital.
Fadnavis further stated that Maharashtra is undertaking large-scale infrastructure development projects aimed at reshaping the state’s economic landscape. Key projects include the Mumbai Trans Harbour Link, Samruddhi Mahamarg, Navi Mumbai International Airport, Vadhavan Port, industrial corridors, and advanced digital infrastructure initiatives.
He added that sectors such as artificial intelligence, semiconductors, electric vehicles, advanced manufacturing, clean energy, Global Capability Centres (GCCs), and deep-tech innovation will define the next phase of economic growth, with Maharashtra positioning itself as a major destination for these emerging industries.
Speaking at the summit, Rajiv Memani said Mumbai’s transformation reflects a forward-looking vision that extends beyond its role as India’s financial capital, positioning it among the world’s most integrated economic regions.
Chandrajit Banerjee also acknowledged the Maharashtra government’s policy initiatives and leadership, crediting them for creating new growth opportunities for industries across sectors.