Private investment of Rs 11 lakh crore needed to boost MMR economy: Niti Aayog
NITI Aayog CEO, B.V.R. Subrahmanyam, submitted the report to Chief Minister Eknath Shinde, focusing on seven key sectors to meet these ambitious targets.
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NITI Aayog CEO, B.V.R. Subrahmanyam, submitted the report to Chief Minister Eknath Shinde, focusing on seven key sectors to meet these ambitious targets.Aiming to double Mumbai’s GDP within the next five years and boost the Mumbai Metropolitan Region’s (MMR) economy to $300 billion by 2030 from its current GDP of $140 billion, NITI Aayog presented a detailed roadmap to the Maharashtra government on Thursday.
NITI Aayog CEO, BVR Subrahmanyam, submitted the report to Chief Minister Eknath Shinde, focusing on seven key sectors to meet these ambitious targets.
The report emphasises the following areas: promoting MMR as a global services hub; advancing affordable housing and slum rehabilitation; enhancing tourism; developing a port-proximate integrated manufacturing and logistics hub; implementing planned urbanisation and intensive transport-oriented development; advancing sustainability projects; and upgrading urban infrastructure and transport. The plan aims to create an additional 3 million jobs in Mumbai, bringing the total to 10 million. It also highlights the need for private investment between Rs 10-11 lakh crore.
The report suggests several initiatives, including promoting tourism hubs at Gorai-Madh and Alibaug, and implementing a master plan for a 300 km coastline. It also proposes developing a port-proximate integrated manufacturing and logistics hub, including the Kharbav integrated logistics cluster as a multi-modal logistics park. With the upcoming Rs 76,000 crore Wadhwan port project, NITI Aayog recommends leveraging it for green hydrogen, steel, chemicals, and integrated textiles and apparel. The report advises the state to introduce comprehensive policies for services, tourism, affordable housing, and transport-oriented development.
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