Maharashtra CM Fadnavis envisions third Mumbai as the key to making the state India’s first trillion-dollar economy

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Maharashtra Chief Minister Devendra Fadnavis has hailed the state as the driving force behind India's economic growth, expressing confidence that Maharashtra could soon become the first trillion-dollar sub-economy in the country.

Speaking at the CNBC-TV18 India Business Leader Awards (IBLA) held in Mumbai on Saturday, Fadnavis emphasised Maharashtra's position as a business powerhouse and a key player in India's economic landscape. "We are back and we are back with a bang," he said, addressing the business leaders at the event.

Thanking the people of Maharashtra for their overwhelming support in the recent state elections, the Chief Minister described the mandate won by the Mahayuti coalition as "unprecedented" and expressed gratitude for the responsibility entrusted to his government to propel the state to greater economic heights. Reflecting on the election results, Fadnavis admitted the massive victory came as a surprise, attributing it to the success of the government's initiatives and promises fulfilled. "Maharashtra followed the Prime Minister's message, ‘ek hai toh safe hai,' which worked like magic during the elections," he added.

Fadnavis further emphasised his optimism about Maharashtra's economic future, pointing out that the state had already secured 52 per cent of India's total Foreign Direct Investment (FDI) in the first half of the fiscal year. He also noted that Maharashtra had been overtaken by Karnataka when the BJP lost its government in the state, but asserted that Maharashtra's advantages, including Mumbai as the country's financial hub, set it apart from other states like Gujarat.

The Chief Minister highlighted the development of a new business district near Navi Mumbai, which he called "third Mumbai," a zone three times the size of the current Mumbai. "This will be the next business capital of India," he said, adding that the government is working to make the state more business-friendly and hassle-free for investors.

Fadnavis also mentioned significant infrastructure projects underway in Maharashtra, including the Vadhavan port, which he described as one of the largest ports in India, set to transform the maritime economy. He also noted that Prime Minister Narendra Modi had announced that a third airport would be built at the Vadhavan port, further strengthening Maharashtra's strategic infrastructure.

The Chief Minister's remarks at the event painted a picture of a Maharashtra poised for tremendous growth, with ambitious projects aimed at cementing its role as a leader in India's economic development. Fadnavis concluded by expressing confidence that the state was on track for a record year in FDI, setting the stage for a new era of growth and prosperity.

As per ANI, the Chief Minister's vision for Maharashtra underlined the state's immense potential and its strategic focus on business expansion and infrastructure development.

(With inputs from ANI)