Eknath Shinde, Deputy Chief Minister of Maharashtra, has said that the state is expected to contribute nearly USD 1.5 trillion to India’s ambitious USD 5 trillion economy target by 2027. Speaking at a conference in Mumbai, Shinde highlighted the state’s significant role in driving the country’s economic growth.
He noted that Maharashtra continues to remain India’s leading economic powerhouse, supported by robust investments, expanding industries and large-scale infrastructure development. The state accounted for around 14% of India’s economy during the 2024–25 period.
Shinde emphasised that Maharashtra’s ongoing infrastructure expansion—including metro corridors, expressways, ports and airports—is expected to further strengthen industrial activity, improve connectivity and create employment opportunities. According to him, major projects such as the Mumbai Coastal Road, Atal Setu and the upcoming Navi Mumbai International Airport are helping reinforce the state’s position as a leading destination for investment and economic growth.
“Maharashtra will continue to lead India’s growth story. With strong policy support, infrastructure expansion and investor confidence, the state is on track to play a major role in achieving the country’s USD 5 trillion economy target, with Maharashtra alone contributing nearly USD 1.5 trillion to the national GDP,” Shinde said.
He also pointed out that Maharashtra continues to attract the highest share of Foreign Direct Investment in the country, strengthening its reputation as India’s top investment destination. According to Shinde, the presence of major financial and commercial centres such as Mumbai, along with progressive policies and a strong industrial ecosystem, has made the state highly attractive to global investors.
Shinde added that ongoing reforms, ease-of-doing-business initiatives and major infrastructure projects in logistics, manufacturing and technology sectors are further strengthening Maharashtra’s role as the growth engine of the national economy and a gateway for global capital.
During the same discussion, Sanjeev Jaiswal, Vice President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), also addressed the debate surrounding land reclamation in coastal cities. He said that while several international coastal cities have expanded through reclamation, in India such projects are regulated under strict Coastal Regulation Zone norms and environmental safeguards.
Jaiswal explained that any reclamation proposal requires multiple approvals and detailed environmental assessments, often involving regulatory authorities and judicial oversight. He added that although the need for additional urban land in a dense city like Mumbai is widely recognised, any such development must balance urban expansion with environmental protection and comply with established regulatory processes.
Source: The Economic Times
