MMR's Path to USD 300 Billion GDP by 2030: NITI Aayog's Strategic Blueprint

NITI Aayog, the Centre's public policy think tank, is set to make economic blueprint for the Mumbai Metropolitan Region (MMR). The aim is to propel the city's gross domestic product (GDP) from its current standing of USD 140 billion to USD 300 billion by the year 2030.

At large, the initiative will accelerate the economies of the 20 selected cities so that India becomes a USD 5 trillion economy. Maharashtra's planning department revealed that MMR is one of the 20 cities, alongside cities like Surat, Varanasi, and Visakhapatnam.

At a recent meeting attended by Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, and BVR Subramanyam, the CEO of NITI Aayog, Subramanyam made a big announcement. He declared that the blueprint for this economic master plan would be ready within the next four months.

🕥10.40am | 29-8-2023 📍 Mumbai | स. १०.४० वा. | २९-८-२०२३📍 मुंबई.

🔸Meeting with Shri B.V.R. Subrahmanyam, CEO of NITI Aayog
🔸नीती आयोगाचे मुख्य कार्यकारी अधिकारी श्री. बी. वी. आर. सुब्रमण्यम यांच्या समवेत बैठक@NITIAayog @mieknathshinde @AjitPawarSpeaks #mumbai… pic.twitter.com/Tks7drSWdB

— Devendra Fadnavis (@Dev_Fadnavis) August 29, 2023

Furthermore, the state government has formed a committee. It includes distinguished officials who will oversee the target.

Subramanian also talked about MMR's robust infrastructure. Some of its examples are the Samruddhi Motorway, the coastal highway, and the Mumbai Trans Harbour Link (MTHL). This infrastructure comes with last-mile connectivity. All of this collectively helps with employment and entices industries such as information technology and automotive manufacturing in the future.

Chief Minister Eknath Shinde lauded this plan. He said that MMR's economic growth would contribute significantly to the state's objective of reaching a USD 1 trillion economy. He also expressed gratitude to Prime Minister Narendra Modi for including MMR in the pilot project.

It's worth noting that the MMR's current GDP surpasses that of several nations, including Portugal, Saudi Arabia, Malaysia, Israel, and Chile.

In 2030, it is projected that the population of MMR will surge by approximately 27 million people. To handle this, an estimated USD 150 billion in investments will be required over the next seven years. The urbanisation rate in Maharashtra is also expected to exceed 50% by 2030.

NITI Aayog also recommended a strong focus on sectors such as hospitality, tourism, logistics, building, finance, healthcare, education, and transportation.