Maharashtra Aims for Trillion-Dollar Economy by 2030

Maharashtra is strategically focused on achieving its goal of becoming India's first trillion-dollar sub-national economy by 2030. Currently valued at approximately $600 billion, the state aims to double its economic output through targeted growth initiatives. This ambition aligns with India's broader economic targets for the same decade.

A cornerstone of Maharashtra's strategy involves substantial infrastructure development. Key projects include extensive road, port, and logistics networks across major cities like Mumbai, Pune, and Nagpur. The proposed Vadhavan Port, north of Mumbai, is designed to significantly enhance container handling capacity on the western coast, aiming to be larger than the Jawaharlal Nehru Port.

Connectivity improvements are also prioritized, with initiatives to link industrial regions to ports and freight corridors to alleviate congestion and streamline cargo movement. Multimodal logistics corridors and expressways connecting major cities are under development to redistribute traffic and foster industrial growth in surrounding areas.

The state plans to bolster its economic standing by adding about 150,000 acres of industrial land in the next one to two years. Mining and steel production are identified as crucial sectors for future expansion, with plans for up to 50 million tonnes of steel production capacity in the next decade, including green and specialty steel.

Maharashtra is also actively promoting investments in advanced technology sectors such as semiconductors and quantum computing, offering capital subsidies to mitigate investor risk. This proactive approach, coupled with a commitment to policy continuity and honoring investment commitments, aims to solidify its position as a leading investment destination.