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Mumbai Aims to Be Global Economic Model in 15 Years, Says Minister

Maharashtra Minister Mangal Prabhat Lodha asserts that Mumbai is on track to become a global role model for economic development within the next 10 to 15 years, fueled by unprecedented infrastructure projects. He highlights that Mumbai's competition is now with other developed nations, not just Indian states, citing projects like the Atal Setu and Coastal Road. Industry expert Ajay Ashar notes a robust post-COVID growth phase, with a booming luxury real estate market and significant policy changes enabling this expansion. The vision includes creating a city where travel between any two points takes a maximum of 45 minutes, supported by ongoing large-scale infrastructure boosts.

Key Points: Mumbai to Become Global Economic Role Model in 10-15 Years

  • Massive infrastructure investment
  • Competition with developed nations
  • Post-COVID policy changes driving growth
  • Goal of 45-minute city-wide travel
3 min read

In 10-15 years, Mumbai will become role model of economic development for the globe: Maharashtra Minister

Maharashtra Minister Mangal Prabhat Lodha says Mumbai's infrastructure boom will make it a global development model, with experts highlighting rapid growth.

"Mumbai will become a role model of development on the global platform in 10-15 years. - Mangal Prabhat Lodha"

By Saurav Mukherjee, Mumbai, April 3

Amid the rapid infrastructure development of the financial capital, Maharashtra's Minister for Skills, Employment, Entrepreneurship and Innovation, Mangal Prabhat Lodha on Friday said that Mumbai will soon become a role model of economic development for the globe to follow.

In an exclusive interview with ANI on Friday, Lodha spoke on the planned expansion of Mumbai, including Mumbai 2, Mumbai 3 and the development around Alibaug - also known as Mumbai 4.

He said, "Be it the infrastructure investment in the field of irrigation, Atal Setu, Coastal Road, highways, or railway stations, the development is unbelievable in Mumbai and Maharashtra."

He ensured that Mumbai would become a global economic hub and centre of learning.

Lodha said, "Mumbai is not competing with states, but it's competition is with other developed nations. Mumbai will become a role model of development on the global platform in 10-15 years."

"If you compare Maharashtra 15 years ago and now, you will see vast difference," he added.

Among other things, the state minister also spoke on the policies implemented by the Maharashtra government, like 'MITRA' to facilitate communications between the government and external stakeholders.

Speaking on similar lines, former vice-chairman of Maharashtra Institution for Transformation (MITRA) and MD of Ashar Group, Ajay Ashar, said that Maharashtra has shown the way to the states and the country.

"In 15 years, Mumbai has seen a very robust (infrastructure) growth. We have seen so many high-rise buildings. There has been a complete policy change which the government has done and these changes have led to a very good growth, especially after COVID," Ashar said.

He added that both residential and commercial development in Mumbai has been outstanding. "Rates in the last 10 years have been very stable, but in the last three years, the rates have started to rise as the cost of production has gone up. Also, the cost of permissions have gone up. High-end luxury market is booming at this time and the charm of Mumbai is still very much there."

On MITRA and other schemes, Ashar said that there is a large-scale boost to the infrastructure of Mumbai. He mentioned projects like the ring road, the coastal road and others.

"The motto of the government is to reach from anywhere to anywhere in 45 minutes. In 5 years, Mumbai will be a different place," he said, adding that travelling in Mumbai will be better in the coming years.

He also spoke on green corridors, like Deonar, and expressed hope that Mumbai's AQI will improve soon.

- ANI

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Reader Comments

R
Rohit P
As a lifelong Mumbaikar, I've seen the change. The infrastructure push is real – the new highways and metro lines are game-changers. If they can truly solve the traffic problem and improve air quality, this vision is possible. Jai Maharashtra! 🇮🇳
A
Ajay M
Mumbai 2, Mumbai 3, Mumbai 4... sounds exciting on paper. But the cost of living is already skyrocketing. The "high-end luxury market booming" line says it all. Will the middle class be priced out of their own city? Development must be for all, not just the wealthy.
S
Sarah B
Working in Mumbai's business district, the transformation in the last 5 years is noticeable. The new commercial spaces and improved connectivity are attracting global firms. If they keep this momentum and focus on sustainability (green corridors!), Mumbai could indeed be a global model.
K
Karthik V
"From anywhere to anywhere in 45 minutes" – if they achieve this, it will be a miracle greater than any sea link! The spirit of Mumbai is undeniable. With focused execution on these mega-projects, why can't we dream big? Let's support this vision.
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Nisha Z
Hope is good, but we need accountability. Politicians make big promises every election cycle. Show us concrete results on the ground—better public transport, cleaner air, and managed floods. Then we'll believe it's a model for the world. Actions speak louder than words.

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