MMR to soon turn into Global Economic Hub

The Maharashtra government will soon unveil a comprehensive plan to double the Mumbai Metropolitan Region's (MMR) GDP. This comes after NITI Aayog made the goal of boosting MMR’s GDP from USD 140 billion in 2022–2023 to USD 300 billion over the next five years.

On Thursday, September 5, Chief Minister Eknath Shinde met with key representatives to discuss the plan. Officials from various state government agencies, the Mumbai Metropolitan Region Development Authority (MMRDA), and consultants attended the meeting. As per sources, the government will formally announce the plan on September 12.

A project management committee will also be made to oversee implementation. As per reports, several high-value projects have been identified to drive the region’s growth. Some of these have been classified as "platinum" projects whereas some have been labelled "golden." 

Development of Gorai, Alibaug, and Madh into key tourist destinations, a 248-hectare integrated logistics park in Kharbav, Vasai, and development of Angelo-Saape, Wadhwan, and Dighi are categorised as platinum.

Golden category projects include the bullet train, the Sinhgad road, the Goregaon-Thane tunnel, the Mumbai-Pune highway service lane, and integrated river rehabilitation projects.

Further, the state has allocated USD 12.7 billion for other infrastructure developments. This includes a metro line parallel to the coastal road and the Metro-5 line, which will connect Thane, Bhiwandi, and Kalyan. Housing developments are planned at 12 locations under the Navi Mumbai Airport Influence Notified Area (NAINA). 

There are also plans to improve Mumbai's Bus Rapid Transit System (BRTS), which could increase its capacity by 2,00,000 passengers over the next seven years. The chief minister has instructed the government to prioritise infrastructure and transportation projects.

The goal is to establish MMR as a major economic force by 2047. This is in line with the recommendations made by NITI Aayog last month. In a meeting with the CM, the agency advised the Maharashtra government to focus on seven key growth drivers. It also advised the state to attract between USD 125 and USD 135 billion in private sector investment to achieve the goal of becoming a USD 1 trillion economy by 2028.