Maharashtra targets $1 trillion economy by 2029

Maharashtra's Chief Minister Devendra Fadnavis has announced a plan to make the state a $1 trillion economy by 2029. This initiative is part of India's broader target of reaching a $5 trillion economy. The focus will be on improving infrastructure, technology, and industrial growth. Speaking at an event by the CII Young Indians, Fadnavis emphasized that efficient administration and strong decision-making are key to Maharashtra's progress. He noted that the state's economy would play a significant role in India's overall economic goals. The Mumbai-Nagpur Samruddhi Expressway is a major project aimed at boosting communication and infrastructure in the state. Fadnavis highlighted Nashik's potential in both industry and tourism due to its skilled workforce and favorable climate. He mentioned that the new expressway would help Nashik develop faster, while a new port is being built at Vadhavan to further enhance economic ties. Fadnavis stressed the importance of technology and artificial intelligence to drive growth. He revealed ongoing collaborations with Google, particularly in agriculture and law, to create new job opportunities. He acknowledged that while many states are thriving economically, Maharashtra stands out as a prime destination for investment, attracting the highest foreign investments in India. The government aims to ensure that investments benefit not just major cities like Mumbai and Pune, but also other districts, including Chhatrapati Sambhajinagar, Nagpur, and Gadchiroli. Fadnavis also mentioned a commitment to sustainable development, working to improve both the agricultural sector and industry. In Nashik, known for its advanced agricultural production, efforts are underway to connect farmers to markets more effectively. Additionally, the state is constructing 20 lakh houses under the Pradhan Mantri Awas Yojana, which will positively impact rural areas as well.