Here’s How NITI Aayog Plans To Transform Mumbai Metropolitan Region Into A Rs 26 Trillion Economy By 2030

In a pivotal presentation to the Maharashtra government, NITI Aayog has unveiled an ambitious roadmap aimed at transforming the Mumbai Metropolitan Region (MMR) into a Rs26 trillion economy by 2030, doubling its current economic output of Rs12 trillion.

During a meeting with Maharashtra Chief Minister Eknath Shinde and Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar on Thursday, NITI Aayog CEO BVR Subrahmanyam outlined a comprehensive strategy for achieving this goal. Subrahmanyam emphasized that Mumbai can attain this target through several key initiatives:

1. Promotion as a Global Services Hub: Leveraging Mumbai’s position to attract international businesses and services.
2. Affordable Housing and Slum Rehabilitation: Improving living conditions and expanding housing availability.
3. Tourism Development: Enhancing the region’s appeal as a tourist destination.
4. Port-Proximate Integrated Manufacturing and Logistics Hub: Utilizing Mumbai’s port facilities to drive manufacturing and logistics growth.
5. Planned Urbanization and Transport-Oriented Development: Developing infrastructure and transport systems to support urban growth.
6. Sustainability Projects and World-Class Urban Infrastructure: Investing in sustainable development and modern urban amenities.

Subrahmanyam also noted that NITI Aayog is working on vision plans for 13 states, with Mumbai, Surat, Varanasi, and Visakhapatnam identified as pilot projects for economic development. The overarching goal is to create approximately 30 million new jobs in Mumbai, channeling Rs10-11 trillion in private investments to turn cities into major growth engines.

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Chief Minister Eknath Shinde emphasized the importance of leveraging Mumbai’s potential for integrated development, including significant job creation and the prioritization of data centers in Navi Mumbai. He highlighted recent approvals for investment projects totaling around Rs80,000 crore and underscored efforts to utilize Maharashtra’s 720 km coastline for tourism development.

The presentation marks a significant step towards enhancing the economic landscape of Mumbai and positioning it as a global economic powerhouse by 2030. The ambitious plan outlines a path to not only boost the regional economy but also to improve infrastructure, sustainability, and job opportunities in one of India’s most dynamic metropolitan regions.