Over the next five years, NITI Aayog has set a challenging goal to double the GDP of the Mumbai Metropolitan Region (MMR) from $140 billion to $300 billion. To achieve this, Maharashtra is being advised by the policy think tank of the Center to concentrate on seven important growth areas and draw in $125–135 billion in private investment.
In the think tank’s report, these seven growth drivers are listed as: making Mumbai a global center for services; providing affordable housing; turning MMR into a major tourist destination; integrated port development in MMR; establishing an industrial and logistics hub; building cities; and establishing an internationally recognized, sustainable, all-inclusive infrastructure.
The strategy was presented by NITI Aayog in a recent meeting. The strategy calls for strengthening ports, improving affordable housing, increasing tourism, turning Mumbai into a global center for services, and building a strong industrial and logistics hub. By 2047, the goal is to increase MMR’s GDP to $1.5 trillion, growing at a pace of 9–10% annually.
Accelerating ongoing projects valued at $65 billion and attracting fresh investment of ₹50,000 crore are critical to attaining this. In addition, the state has been requested to address slum rehabilitation and advocate for the redevelopment of Mumbai Port Trust (MbPT) land.
Source: Knocksense
