Mumbai, May 22: Chief Minister Devendra Fadnavis expressed confidence on Friday that Maharashtra is making significant strides in research, innovation, and the global economy. He noted that by leveraging artificial intelligence (AI) and emerging technologies, Maharashtra is establishing its dominance across various sectors in the country.
The Chief Minister emphasized that no other Indian state comes close to Maharashtra in terms of research, innovation, infrastructure, and revenue generation. This has created a robust ecosystem for the establishment of new industries, technology-based businesses, and data centers. He made these remarks during an extensive interview with an English TV channel.
Expanding on the state’s ambitious goal of becoming a $1 trillion economy, CM Fadnavis asserted that Maharashtra is undoubtedly the startup and unicorn capital of India. He highlighted that in 2015, Maharashtra’s economy was approximately ₹14 lakh crore, which has now surged to ₹54 lakh crore. Over the past decade, the state has more than tripled the size of its economy.
He pointed out that while many other Indian states aspire to achieve the $1 trillion status, Maharashtra is currently the closest to this target. The state’s economy is now valued at $660 billion, maintaining a steady annual growth rate of 10%.
The Chief Minister further stated that if this momentum continues, the state will robustly achieve its $1 trillion goal by 2030, despite minor fluctuations caused by short-term agricultural or natural challenges, such as weather events like El Niño observed in 2025-2026.
In terms of economic scale, Maharashtra is no longer just competing with other Indian states; it has emerged as the 30th largest economy in the world.
CM Fadnavis claimed that in the next two to three years, Maharashtra’s economy is on track to surpass that of global financial centers like Singapore and the United Arab Emirates (UAE).
To accelerate this growth, technology and AI are being deployed as force multipliers through effective use of Geographic Information Systems (GIS), data tracking, and centralized data pools. This initiative is supported by structural planning rather than mere paperwork; an economic advisory council has been established to create dedicated development blueprints for each sector. Additionally, the government has drafted the ‘Developed Maharashtra 2047’ vision document, outlining short-term goals for 2030, mid-term milestones for 2035, and long-term objectives for 2047.
To enhance administrative efficiency, the government has mapped 2,000 specific data points and assigned them to relevant state departments. A special ‘Vision Management Unit’ has also been established for real-time progress monitoring. Currently, performance rates across all departments range from 75% to 95%.
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