Maharashtra will achive one trillion dollar economy 2025: Devendra Fadnavis

Maharashtra will achive one trillion dollar economy 2025: Devendra Fadnavis

“I would like to reassure that Maharashtra will be a trusted partner in the journey of New India's five trillion dollar economy,” Fadnavis said

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PM Narendra Modi with Union Ministers Nitin Gadkari, Ashok Gajapathi Raju, Maharashtra CM Devendra Fadnavis and Governor Vidyasagar Rao at Navi Mumbai. Prashant Nadkar

The Chief Minister Devendra Fadnavis on Sunday outlined five major economic policies to drive the ambitious dream of making Maharashtra a trillion dollar economy by 2025. At the Magnetic Maharashtra Convergence 2018, chief minister said Maharashtra would like to reassure its partnership and trust in the centre to make New India a five trillion dollar economy by year 2025.

The three days global business summit saw the chief minister taking a centre stage to project and potential of Maharashtra to both domestic and global partners through key policies and mega-projects. “I would like to reassure that Maharashtra will be a trusted partner in the journey of New India’s five trillion dollar economy,” Fadnavis said.

While unlocking the high growth potential in service sector to 15.5 per cent and industry from 4 to 12.3 per cent, chief minister said, “It is our endeavour to consolidate the gains in the foreign direct investments and infrastructure through the reforms.” The state which is first in the country to release Fintech policy will set up 300 startups thus opening the doors of employment to generation next.

The chief minister said, “Magnetic Maharashra of such magnitude was possible as Prime Minister Narendra Modi has given us an opportunity to host the Make In India two years ago.” Of the total 2984 MoUs worth Rs 8 lakh crore investments were signed during Make In India, the conversion rate has been 61 per cent . The production are worth Rs 72,000 crore and those under stages of construction are worth Rs 1.lakh crore, he said.


At the Magnetic Maharashtra, chief minister emphasised that the larger objective of the conclave was inclusive growth –Saab Ka Saath, Saab Ka Vikas.

While urging the global investors to reckon the strength of Maharashtra, chief minister said, “ The FDI investments in Maharashtra has seen a quantum jump with 300 per cent. From 8.6 billion dollar (2012-13) to 29 billion dollar (20160-17).” Overall, Maharashtra has 51 per cent of the total FDI received in India.

The infrastructure sector is taken on higher priority to create an ecosystem for better investments and employments. It is also a step to bridge the divide between the rural and urban, he added.

The chief minister cited the example of the Rs 46,000 crore Samriddhi Corridor which is 710 km stretch between Nagapur-Mumbai passing through 14 districts and bringing economic dividends to 24 districts. The 24 townships along the project would open up a model for multisector.

Those present at the function includes Karin Röding, Sweden’s State Secretary to Minister for Higher Education and Research Helene Hellmark Knutsson; Bardish Chagger, Canada’s Minister of Small Business and Tourism; Mukesh Ambani, Chairman and Managing Director, Reliance Industries; Anand Mahindra, Chairman, Mahindra Group; Richard Branson, Chairman, Virgin Hyperloop One; Edward Monser, President, Emerson; and Tonino Lamborghini, President, Tonino Lamborghini, among others.