Plan to make Maharashtra a 5 trillion dollar economy by 2047

Mumbai: Maharashtra Chief Minister Devendra Fadnavis has put forth a vision to make Maharashtra a 5 trillion dollar economy by 2047. He told the Neeti Aayog meeting at Delhi on Saturday that his government in the state is busy preparing a time-bound program to bring this vision into reality.

Maharashtra government recently completed its 100-day exercise to set and achieve goals to make the state administration transparent, accessible and accountable. Various government departments achieved over 700 targets set by them during the period. In the next phase, a more elaborate 150-day program too was launched recently with a special focus on e-governance. Similarly a long term vision too is being charted out, the CM told the Neeti Aayog.

In 2047 Maharashtra will be completing 75 years of its formation and the state administration is currently busy charting a grand vision for the occasion and also the roadmap to achieve the set goals. These goals too are being set in a phased manner. The first phase is till 2029 and goals are being set for every year till 2029. The next phase will be till 2035 and the last phase will be of 12 years between 2035 and 2047 to realize the vision in action, the CM said.

Among the key factors of the grand vision are the goals to make the state’s economy worth 1 trillion dollars by 2030 and worth 5 trillion dollars by 2047. Mumbai Metropolitan Region (MMR) shall play an important role in this as it is being developed as a growth hub which in itself will be a 1.5 trillion economy by 2047, the CM said.

Industrial development

The state government is also planning to boost the potentials of the tier-2 and tier-3 cities through industrial development. As part of these efforts Gadchiroli is being developed as the Steel City, Nagpur as the defence hub, Amravati as Textile cluster, Chhatrapati SambhajiNagar and AURIC city as EV production hubs while the port town of Dight in Raigad district is being developed into a smart industrial city, he added.

CM Fadnavis also said that the state government has formulated several policies to give a boost to services sectors. Some of the policies he mentioned in this regard are IT policy, Export Promotion Policy. Logistics Policy, Audio-Visual-Gaming_Comics (AVGC) policy, GCC (Global Competence Centre) policy etc.

Boost to MSME

While counting the state’s achievements, the CM said that the state has over 60 lakh MSME registered on the Udyam portal, which, he said, is the highest number in the country. He also said that by the means of ease of doing business and the CM’s employment generation program over 2 lakh entrepreneurs were given assistance in developing their businesses.

The state government is also developing a innovation city to give a boost to startups and constructive talent. The sectors identified for this include AI, green energy, biotech, Fintech, Agritech etc. which is expected to lead an ecosystem based on smart manufacturing. The CM also mentioned two MOUS worth Rs 5000 crore for global studios signed at the recent WAVES summit in the city.

To power this grand vision several MOUs have been recently signed to ensure 45,500 MW of additional power to the state. Majority of this power is green and the state shall have 52% of its total power supply through green sources by 2030, the CM told the conference of the heads of states.

He also sought the centre’s guidance and assistance in planning and implementation of 2027 Kumbha mela at Nashik and also in other sectors to achieve the envisioned growth targets.