‘Maharashtra On Track To Become Trillion-Dollar Economy By 2030,’ Says CM Devendra Fadnavis

CM Devendra Fadnavis at India Investment Forum 2025 announces Maharashtra’s roadmap to become a trillion-dollar economy by 2030 | File Photo

Mumbai: Maharashtra is firmly on its way to becoming a trillion-dollar economy by 2030, Chief Minister Devendra Fadnavis declared at the India Investment Forum 2025, organized by Morgan Stanley at Hotel Taj Lands End in Mumbai.

Fadnavis highlighted that the state has already crossed the half-trillion-dollar economic mark, and solid steps have been taken to accelerate growth across key sectors.

An Economic Advisory Council, led by Tata Sons and supported by 20 top CEOs, has developed a detailed roadmap targeting sectors such as infrastructure, industry, services, agriculture, and fintech.

In a major announcement, he said the comprehensive “Viksit Maharashtra 2047” vision document will be unveiled on October 2, outlining short-, mid-, and long-term goals for the state’s development across economic, social, and environmental domains.

Fadnavis emphasized that industrial growth is no longer limited to the Mumbai-Pune belt. Regions like Chhatrapati Sambhajinagar, Gadchiroli, Nashik, and Raigad are witnessing rapid development, with the establishment of EV hubs, steel cities, and industrial townships, positioning Maharashtra as an emerging industrial powerhouse.

The CM announced a massive $100 million investment in infrastructure, including: Expansion of Vadhavan Port, Construction of the Nagpur-Goa Expressway, New airports, Expansion of Mumbai Metro,Coastal Road projects These developments aim to transform Maharashtra’s logistics and transport ecosystem, improving connectivity and trade.

Urban redevelopment in Mumbai is also progressing swiftly. The Dharavi Redevelopment Project will rehabilitate nearly 800,000 residents, while initiatives such as a “Single Transport Card” and an integrated mobility app are being rolled out to modernize public transport.

Fadnavis also mentioned that sewage treatment projects will help cleanse the city’s coastline, further improving the urban environment.

Maharashtra continues to lead the nation in attracting foreign direct investment (FDI), accounting for nearly 40% of India’s total FDI inflow. Initiatives such as:

The Integrated Digital Single Window System, MIDC Industrial Parks, A dedicated Cabinet Committee on Investment

To boost agricultural productivity, the state government is focusing on water security, solar energy, and technology for farmers. By 2026, the government plans to provide free daytime electricity through solar power, aiming to increase both farm output and farmer income.

Maharashtra’s tourism sector is set for a transformation with a five-year strategic plan focusing on local participation, heritage preservation, and infrastructure development. Fadnavis said the plan aims to unlock the state’s untapped potential as a global tourism destination.

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