Maharashtra Chief Minister Eknath Shinde on Thursday launched an ambitious NITI Aayog report aiming to more than double the economic activity in the Mumbai Metropolitan Region (MMR) to $300 billion by 2030, up from the current $140 billion. The report, presented at the state guest house ?Sahyadri,? projects the creation of up to 28 lakh new jobs across the state, enhancing Mumbai's role as a global services hub.
The study suggests that targeted investments, particularly from the private sector, could elevate the region into a center for industries such as financial services, fintech, artificial intelligence, health, and media. If achieved, this would propel the per capita income in the region to $12,000 by 2030, compared to $5,248 today.
Shinde, accompanied by his deputy Devendra Fadnavis and Klaus Schwab, founder of the World Economic Forum, expressed confidence in the region's potential. ?This report underscores the transformative economic possibilities for Mumbai, and with the right investment, we can unlock tremendous growth for the state,? Shinde said.
However, opposition leader Aaditya Thackeray of Shiv Sena (UBT) voiced concerns about the timing of the report, hinting at political motivations ahead of the upcoming Maharashtra elections. "This NITI Aayog study seems like a precursor to turning Mumbai into a Union Territory," Thackeray remarked during a press conference.
Thackeray further criticized the Central government for moving financial opportunities away from Mumbai, specifically referring to Gujarat International Finance Tec-City (GIFT City). "Our demand is that Mumbai must have its own GIFT city, which was stolen and taken to Gujarat. When we have our government at the Centre, we will bring it back to Mumbai," he added.
He also called for an apology from Union Commerce Minister and Mumbai North MP Piyush Goyal, accusing him of promoting GIFT City in Gujarat at the expense of Mumbai. Regional parties like Shiv Sena (UBT) and Maharashtra Navnirman Sena (MNS) have previously alleged that the Union government harbors plans to separate Mumbai from Maharashtra.
As debates heat up in the political landscape, the proposed economic vision for Mumbai remains a critical topic, with questions about its long-term implications. Whether the ambitious goals set in the NITI Aayog report can be met will depend on cooperation across political lines and the successful attraction of investments into the city.
