Roadmap ready for making Maharashtra $1 trillion economy by 2029: Devendra Fadnavis

As India is moving towards a $5 trillion economy, a roadmap is ready for Maharashtra to become a $1 trillion economy by 2029, Chief Minister Devendra Fadnavis said on Sunday. Speaking at a programme of the CII Young Indians, Fadnavis said efficient administration and effective implementation of decisions are accelerating development in Maharashtra.

"India's economy is moving towards becoming a $5 trillion economy, in which Maharashtra will have a large share. A roadmap is ready for the state to become a $1 trillion economy by 2029," he said.

He said the speed of communication and infrastructure are crucial for economic development, and the Mumbai-Nagpur Samruddhi Expressway was built for that purpose.


The chief minister said Nashik has potential for the development of industries and tourism.

"Considering the manpower and climate here, there is a lot of scope for tourism and industrial development. The defence ecosystem is here due to Hindustan Aeronautics Ltd (HAL). Nashik will develop more rapidly due to the Samruddhi Expressway. The largest port in the country is now being built at Vadhavan in Palghar, and Nashik city will benefit from it, as a greenfield road will be built from Nashik to Vadhavan," he said.

He emphasised the effective use of technology and artificial intelligence and said if communication facilities are developed, Nashik will benefit from it.

The chief minister said work is underway on the Center of Excellence in partnership with Google, and the use of AI in the agriculture sector and field of law is creating new employment opportunities.

He said 10 to 12 states are doing well in industry and economic development, and Maharashtra is at the forefront because it has a favourable environment for investment.

"The highest foreign investment coming into the country is coming to Maharashtra. The government is trying to ensure that investments are not restricted to metropolitan areas. Besides Mumbai and Pune, districts including Chhatrapati Sambhajinagar, Nagpur and Gadchiroli have attracted investments," Fadnavis said.

He added that sustainable development has been prioritised in the state.

The chief minister further said that the government is striving to develop the agricultural sector along with industry.

Nashik is known for advanced agriculture, and the district is at the forefront in producing grapes, onions and vegetables.

Work has been started to ensure that farmers get the benefit of the market system, he said.

Fadnavis said 20 lakh houses are being built under the Pradhan Mantri Awas Yojana, and the scheme has also benefitted the rural areas.