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• Devendra Fadnavis said Maharashtra aims to become a USD 1 trillion economy by 2030 and a leading global regional economy by 2047.
• The Chief Minister stated that Maharashtra currently has a USD 660 billion economy and contributes nearly 15 per cent to India’s economy.
• He highlighted large-scale infrastructure investments including the Mumbai Trans Harbour Link, Samruddhi Mahamarg, Navi Mumbai International Airport and Vadhavan Port.
• Fadnavis said Maharashtra is positioning itself as a hub for AI, semiconductors, EVs, advanced manufacturing, clean energy and data centres.
Maharashtra Chief Minister Devendra Fadnavis said the state is targeting a USD 1 trillion economy by 2030 and aims to emerge among the world’s most significant regional economies by 2047 while addressing the CII Annual Business Summit in New Delhi on 11 May. Advertisement
Speaking at the summit organised by the Confederation of Indian Industry, Fadnavis said India continued to inspire confidence amid global economic disruptions, technological shifts, energy transition challenges and supply chain realignments due to its policy stability, execution capability and economic resilience.
The Chief Minister stated that Maharashtra intended to play a leading role in the Centre’s Viksit Bharat vision and described states as the principal drivers of long-term economic growth. According to him, Maharashtra has historically functioned as India’s economic engine and is now preparing for the next phase of global economic transformation through investments in infrastructure, technology, innovation and institutional development.
Fadnavis said Maharashtra currently has an economy valued at approximately USD 660 billion and contributes nearly 15 per cent to the national economy. He added that around 40 per cent of India’s cumulative foreign direct investment inflows are directed towards Maharashtra and that the state accounts for nearly one-fifth of India’s engineering exports.
The Chief Minister also described Maharashtra as India’s data centre and startup capital, while stating that Mumbai continued to remain the country’s financial, commercial and entertainment centre.
Referring to infrastructure development, Fadnavis said Maharashtra was undertaking investments at an unprecedented scale across transport, logistics and digital infrastructure sectors. He cited projects including the Mumbai Trans Harbour Link, Samruddhi Mahamarg, Navi Mumbai International Airport, Vadhavan Port and multiple industrial corridors as key infrastructure initiatives reshaping the state’s economic geography.
According to the Chief Minister, future economic growth would increasingly be driven by sectors such as artificial intelligence, semiconductors, electric vehicles, advanced manufacturing, clean energy, data centres, Global Capability Centres and deep technology innovation. He said Maharashtra was positioning itself as a central hub for these emerging sectors through infrastructure expansion and policy support.
CII President Rajiv Memani stated that Mumbai’s growth reflected a long-term vision aimed at developing the city into one of the world’s integrated economic regions. CII Director General Chandrajit Banerjee also acknowledged the state government’s policy initiatives and industry-focused measures during the summit.
Source- CII Media Release
5th Jun, 2025
25th May, 2023
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