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Maharashtra Chief Minister Devendra Fadnavis said the state is on track to become a USD 1 trillion economy by 2030, backed by growth in infrastructure, artificial intelligence, startups and innovation-led sectors. Speaking at the ImagiNxt 2026 event in Mumbai, he said Maharashtra has already become the world’s 30th largest economy and could surpass the economies of Singapore and the UAE within the next few years. The state government is also increasing the use of AI across governance, agriculture and the criminal justice system while closely monitoring investment execution through dedicated mechanisms.
Maharashtra Chief Minister Devendra Fadnavis said during the past week that the state is expected to surpass the economies of Singapore and the UAE over the next two to three years, supported by continued expansion in infrastructure, artificial intelligence, startups and innovation-focused industries. Advertisement
Speaking at the ImagiNxt 2026 event held at the Jio World Centre in Mumbai, Fadnavis stated that Maharashtra is no longer competing with other Indian states as it has already emerged as the world’s 30th largest economy.
He said Maharashtra currently has an economy valued at nearly USD 660 billion and remains the closest Indian state to achieving the USD 1 trillion economy target. According to the chief minister, the state’s economy has expanded from around INR 14 lakh crore in 2015 to nearly INR 54 lakh crore at present, recording more than three-fold growth over the last decade.
Fadnavis added that Maharashtra has maintained an average growth rate of nearly 10 per cent and is expected to meet the USD 1 trillion target by 2030 despite temporary disruptions such as El Nino-related conditions. He also said the state has become India’s leading hub for startups, unicorns, research and innovation-led businesses.
The chief minister said technology and artificial intelligence are playing a major role in Maharashtra’s development plans. He stated that the state government has already created a separate AI department and commissionerate to increase the use of artificial intelligence across governance and industries.
According to Fadnavis, AI-based systems are now being used in the criminal justice system, where processes ranging from crime scene investigation to filing of chargesheets have been digitised and integrated with blockchain-backed systems. He said the government is also implementing a long-term “Viksit Maharashtra 2047” roadmap with short-term targets for 2030, medium-term goals for 2035 and broader development plans for 2047.
To monitor implementation across departments, the state government has established a Vision Management Unit and created nearly 2,000 data points for tracking performance and execution, he said.
Fadnavis further stated that Maharashtra has achieved a memorandum of understanding-to-investment conversion rate of nearly 55-60 per cent, significantly higher than the national average of 35 per cent. He added that agreements signed during the World Economic Forum Annual Meeting have recorded an implementation rate of around 85 per cent in the state.
He said investment proposals are being monitored through dedicated relationship managers along with a war-room mechanism to ensure faster execution and coordination.
Highlighting the use of AI in agriculture, the chief minister said the government’s Mahavistar application has already been downloaded by nearly 50 lakh farmers and offers AI-powered agriculture-related services. He added that the app also supports the Bhilli tribal language, allowing tribal farmers to access guidance in their native language.
Fadnavis further noted that India’s young population would help accelerate AI adoption, stating that more than 65 per cent of the country’s population is below the age of 35 and is open to technology-driven changes.
Maharashtra has been positioning itself as a key investment and technology destination over the past few years, with the government focusing heavily on infrastructure expansion, digital governance, manufacturing, electric mobility and innovation-led sectors. The state has also continued to attract large domestic and global investments through policy support and project monitoring systems.
Source PTI
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