A study developed by the NITI Aayog on the development of the Mumbai Metropolitan Region (MMR) intends to double the region's Gross Domestic Product (GDP) over the next five years and transform Mumbai and its satellite cities into a worldwide economic powerhouse.
According to a study provided to Chief Minister Eknath Shinde by NITI Aayog CEO BVR Subrahmanyam, the region's GDP is now Rs 12 lakh crore (USD 140 billion) and is expected to reach Rs 26 lakh crore (USD 300 billion) by 2030.
According to the research, although there are now one crore employment possibilities in the MMR, another 30 lakh opportunities are required. According to Chief Minister Shinde, infrastructure and communication facilities are the foundations for the state's growth, and work is already beginning in that direction.
According to the report, the Maharashtra government should focus on seven sectors: developing Mumbai into a global services hub, facilitating affordable housing, transforming MMR into a global tourism center, integrated port development in MMR, creating an industrial and logistics hub, city development, and sustainable, all-inclusive infrastructure facilities of global standards.
The research stated that private sector investment of around Rs 10 to 11 lakh crore was required, and cities should be promoted as economic engines.
The MMR, which includes Mumbai city, its suburbs, Palghar, Raigad, and Thane districts, accounts for one-third of Maharashtra's GDP, according to the research. Speaking at the event, Shinde stated that his administration is focusing on affordable housing, job creation, a data center in Navi Mumbai, and the Alibag multimodal corridor.
Recently, investment projects worth Rs 80,000 crore were sanctioned, and efforts are on to promote the state's 720-kilometer coastline for tourism, according to the chief minister.
