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Maharashtra will make India an ‘economic superpower’! Deputy Chief Minister Eknath Shinde’s target of contributing $1.5 trillion by 2027

By Samira Vishwas

 

  • Maharashtra will make India an ‘economic superpower’!
  • Deputy Chief Minister Eknath Shinde’s target of contributing $1.5 trillion by 2027

Mumbai: of Maharashtra Deputy Chief Minister Eknath Shinde Underlining Maharashtra’s central role in India’s economic development, said today that Maharashtra will contribute about $1.5 trillion towards India’s $5 trillion economy goal by 2027 if global economic conditions remain stable. Speaking at the iDAC Expo, India’s premier architecture, design and construction exhibition, held in Mumbai, he said that strong investment, industrial expansion and world-class infrastructure continue to position Maharashtra as the country’s leading economic force.

Emphasizing the development direction of the state, Shinde said that the infrastructure being built in Maharashtra includes new metro corridors, expressways, ports and airports, which will give a big boost to industrial development, connectivity and employment generation. He said major projects like Mumbai Coastal Road, Atal Setu, Navi Mumbai International Airport as well as emerging logistics and industrial hubs are further strengthening Maharashtra as India’s most dynamic economic and investment hub.

Shinde said, “Maharashtra will continue to lead India’s growth story. With strong policy support, infrastructure expansion and investor confidence, Maharashtra will play a key role in achieving the country’s goal of a $5 trillion economy. Maharashtra’s contribution to this national GDP will be close to $1.5 trillion.”

Deputy Chief Minister Eknath Shinde, while highlighting the massive infrastructure and investment initiatives in Maharashtra, said that an investment of around ₹2.96 lakh crore is expected in 2026, which will generate around 3 lakh jobs. He highlighted that the Mumbai metropolitan region is evolving into a globally competitive urban and economic hub due to the government’s focus on infrastructure, housing and industrial development.

Shinde added, “Maharashtra is witnessing unprecedented growth. We have signed Memorandums of Understanding (MoUs) worth ₹30 lakh crore at global forums like Davos and their conversion rate is over 75 per cent. In 2026 alone, an investment of ₹2.96 lakh crore is expected to create nearly 3 lakh new jobs. Through projects like Atal Setu, Mumbai Coastal Road, Samruddhi Mahamarg, Navi Mumbai International Airport and 350 km metro network in the MMR area, we are helping Maharashtra. Building a strong infrastructure for an economic future.”

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Pankaj Bhoyar, Minister of State for Housing, Mines, Cooperatives and School Education, Government of Maharashtra highlighted the importance of integrated development and housing reforms. He said, “Housing is not just about building buildings; it is about providing dignity, security and opportunity to families. Through large-scale redevelopment, housing reforms and collaboration with organizations like the Maharashtra Housing and Area Development Authority (MHADA), we are striving to build inclusive, sustainable and future-oriented cities for the people of Maharashtra.”

Bhoyer added, “Maharashtra government is committed to creating affordable and sustainable housing along with rapid urban development. Through policy reforms, redevelopment initiatives and collaboration with the industry sector, we aim to provide safe and quality housing to more citizens.”

Sanjeev Jaiswal, IAS, Vice Chairman and CEO, Maharashtra Housing and Area Development Authority (MHADA), highlighted the need for structural reforms to make housing more affordable. He said, “If premiums, development charges and other costs related to housing are rationalized, the housing affordability index in cities like Mumbai can come down significantly. Policy reforms and faster approval process will increase housing supply and make housing more accessible to citizens.”

Dhaval Thakur, Co-Founder, Nova Exhibitions & Conferences said, “iDAC Expo has been created as a collaborative platform where developers, architects and construction professionals can come together to exchange ideas and shape the future built environment. Our partnership with the Department of Housing and Maharashtra Housing and Area Development Authority (MHADA) strengthens the dialogue between policymakers and industry leaders.”

Satish Kumar, CEO, Mumbai First highlighted the importance of partnerships in the city’s development. “Transforming a complex city like Mumbai requires strong partnerships between government, industry, community and research institutions. Such forums enable the necessary policy dialogue on issues such as climate change, mobility, public health and sustainable urban development.”

Amit Sinha, Managing Director and CEO, Mahindra Lifespaces said, “The transformation taking place in the Mumbai metropolitan region is remarkable. Developers need to prioritize sustainable development, design innovation and long-term value creation, so that cities grow responsibly and improve the quality of life of citizens.”

Renowned architect Hafeez Contractor highlighted the importance of strategic reforms in urban development. “If the approval process is simplified and planning norms are reformed, cities like Mumbai can achieve higher density development with better design, open spaces and efficient development. The policy framework ultimately determines how cities will grow.”

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Deben Moza, Senior Executive Director, Knight Frank said Mumbai’s growth story is closely linked to infrastructure and strategic reforms. “Mumbai and the wider Maharashtra region are entering a new phase of urban transformation with massive infrastructure projects, strategic initiatives and increased investment, further cementing its position as one of India’s most important financial hubs.”

The three-day iDAC Expo is expected to attract 15,000 to 20,000 visitors and will bring together more than 150 experts, architects, developers and urban planners. The forum will facilitate a broad dialogue on the future of sustainable infrastructure, housing and urban development in India.

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