October 21, 2025: The Mumbai Metropolitan Region (MMR) is set to transform into one of the world’s foremost urban economies by 2047, with its Gross Domestic Product (GDP) projected to reach USD 1.2–1.5 trillion and its population expected to grow to 3.6–3.8 crore, according to the Mumbai Metropolitan Region Development Authority (MMRDA).
MMRDA’s Chief Town and Country Planning Officer, Shankar Deshpande, outlined a comprehensive vision that positions MMR alongside global cities such as Tokyo, London, and Singapore. “Going forward, by 2047, MMR could be transformed into one of the world’s foremost economies with a 36-38 million population (3.6 to 3.8 crore), GDP of around 1.2-1.5 trillion US dollars (Rs 124 lakh crore to Rs 155 lakh crore) – equivalent to Tokyo’s GDP in 2023 and more than USD 38,000 (Rs 33,45,887 per annum) per capita income – equivalent to Japan and Italy today,” Deshpande said.
The region, comprising Mumbai, Thane, Palghar, and Raigad, spans 6,328 sq. km and is undergoing rapid infrastructural transformation through projects worth over Rs 4 lakh crore. These include the Navi Mumbai International Airport, Versova-Virar Sea Link, Mumbai Trans Harbour Link, and Alibag-Virar Multi-Modal Corridor.
By 2030, MMR aims to achieve a GDP of Rs 25 lakh crore, with per capita income between Rs 8–10 lakh and employment rising to 1.3 crore. The plan targets 90% electrified public transport, 70% renewable energy use, and women’s labour participation of up to 40%.
Officials said the master plan will create new financial districts, tourism hubs, and industrial cities, driving Mumbai’s re-emergence as a global powerhouse. “The long-term vision is to position MMR as a global innovation and investment hub—combining Shakti, Shaurya, and Shanti to drive Maharashtra’s growth into 2047,” they said.
Source: The Economics Times