The Mumbai city lost out to Bengaluru on the technology front, said Maharashtra Deputy Chief Minister Devendra Fadnavis on Thursday. He said it was because of poor infrastructure which made the financial capital "unaffordable". Fadnavis who came back as the Deputy Chief Minister last year, said the state is redoubling its focus on the infrastructure front.
"We lost a lot to Bengaluru, I must agree, because we didn't create infrastructure," Fadnavis said here speaking at a conference. He said in Mumbai it was "unaffordable" for businesses to stay, which led them to Bengaluru and Hyderabad.
The state is creating quality infrastructure like the Trans Harbour sea link and a network of metro railways which will open up newer areas for development and also bring down rentals, the BJP leader said. In addition to this, the airport in Navi Mumbai is also being constructed and a huge data center capacity in the satellite city will also help.
Fadnavis said Maharashtra is the real startup capital because 15,000 out of the 80,000 registered startups are in the state adding the state is also home to 25 unicorns and the highest number of profitable startups. He further added that initiatives from the government have helped generate INR 1,000 crore in investments into 800 fintech companies by 500 investors.
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