Maharashtra’s Rapid March Toward a ‘$1 Trillion’ Economy! – Chief Minister Devendra Fadnavis Shares Key Information

Mumbai | A meeting was held today at Sahyadri Guest House, Mumbai, under the chairmanship of Chief Minister Devendra Fadnavis with Ajay Bhushan Pandey, Vice President of Investment Solutions at the Asian Infrastructure Investment Bank (AIIB). The discussion focused on various projects and cooperation strategies to transform Maharashtra into a developed state by the year 2047.

Chief Minister Fadnavis made it clear that Maharashtra will contribute a lion’s share of $1 trillion to India’s target of becoming a $5 trillion economy. To achieve this, a framework is being created for various infrastructure projects with short-term, medium-term, and long-term goals. He emphasized the need for cooperation from several financial institutions. The Chief Minister expressed satisfaction that organizations like AIIB have recognized Maharashtra’s potential and are willing to support the state.

Nine major projects from the state have been submitted to the NITI Aayog and the Finance Ministry. A large-scale plan for river-linking projects has been prepared, which will also require financial assistance. Currently, five river-linking projects are underway in the state.

The Vainganga–Nalganaga–Penganga project will benefit the agriculture and industrial sectors, while the Damanganga–Godavari project aims to divert water currently flowing into the sea towards the Godavari basin in Marathwada.

Private companies will be connected with the AIIB bank for pumped storage hydroelectric power projects with a target capacity of 100,000 megawatts.

Financial support has also been expected for the plan to install 3–4 lakh solar agricultural pumps annually. In addition, urban transport projects such as Metro, underground roads, and coastal roads will also be accelerated.

During the meeting, Ajay Bhushan Pandey shared information about ongoing projects in Asia and other countries and assured support for both current and future infrastructure projects in Maharashtra. Relevant officials were also present on this occasion.