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Maharashtra Eyes $1 Trillion Economy, Invites UK Investors for Growth

Maharashtra Chief Minister Devendra Fadnavis invited a UK parliamentary delegation to invest in the state, positioning it as India's economic and startup capital. He outlined ambitious targets, including achieving a $1 trillion economy and sourcing 52% of energy from renewables by 2030. The state is developing an "Edu-City" in Navi Mumbai, with Letters of Intent already issued to British universities. Fadnavis highlighted parallels between Mumbai-London and Pune-Birmingham to underscore mutual growth opportunities in finance and automotive sectors.

Key Points: Maharashtra CM Fadnavis Invites UK Investment for $1T Goal

  • Aims for $1 trillion economy
  • Leads India in foreign investment
  • Developing Edu-City for foreign universities
  • 52% renewable energy by 2030
  • Major data centre capacity
2 min read

Maharashtra offers excellent ecosystem for industry and investment: CM Fadnavis

Maharashtra CM Devendra Fadnavis invites British investors, highlighting state's GDP share, data centre capacity, and new Edu-City for foreign universities.

"Maharashtra is the technology hub of the nation, contributing 13 per cent to India's total GDP. - Devendra Fadnavis"

Mumbai, March 16

Maharashtra Chief Minister Devendra Fadnavis on Monday invited British investors to invest in the state, saying it possesses an excellent ecosystem for industry and investment.

He said Maharashtra attracts the highest foreign investment in India and remains the country's economic powerhouse as well as its "startup capital".

The Chief Minister made the remarks during a meeting with a delegation of Members of Parliament from the UK, led by Birmingham MP Liam Byrne.

During the interaction, Fadnavis said the state has set a target of becoming a $1 trillion economy.

"Maharashtra is the technology hub of the nation, contributing 13 per cent to India's total GDP. The state holds 60 per cent of India's data centre capacity," he said.

Referring to the visiting delegation as "true ambassadors of Britain", the Chief Minister said the comprehensive economic and trade agreement between India and the UK would significantly boost trade between Maharashtra and Britain.

He added that the state government is working towards ensuring that 52 per cent of Maharashtra's total energy requirements are met through renewable sources by 2030.

Fadnavis also said that following the Centre's new education policy allowing foreign universities to establish campuses in India, Maharashtra is developing an "Edu-City" in Navi Mumbai.

Infrastructure is being created to facilitate foreign universities.

"Letters of Intent (LoI) have already been issued to British universities to open campuses. Courses are expected to begin this year, with facilities designed to accommodate around 1,00,000 students," the Chief Minister said.

Highlighting investment opportunities, Fadnavis drew parallels between major cities in India and the UK.

"London and Mumbai share similar economic growth potential, and a global financial centre is being developed in Mumbai. Similarly, Pune and Birmingham offer comparable opportunities for the automobile industry. The partnership between Maharashtra and Britain will certainly contribute to a bright future," he said.

Liam Byrne, who led the UK delegation, said Maharashtra is not only the economic powerhouse of India but has also become a major attraction for global investors.

- IANS

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Reader Comments

R
Rohit P
Good to see our CM promoting the state on a global stage. The $1 trillion target is ambitious. But sir, please also focus on improving the basic infrastructure in tier-2 and tier-3 cities. Investment should benefit the common man through better roads and public transport.
A
Aman W
Edu-City in Navi Mumbai is a fantastic idea! If top UK universities set up campuses here, it will save students like me crores in foreign tuition fees. Hope the courses are affordable and the quality is at par with their main campuses.
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Sarah B
As someone working in the renewable sector, the 52% green energy target by 2030 is the most exciting part. Maharashtra has great potential for solar and wind. This will attract huge ESG-focused investments. Well done!
K
Karthik V
While the big numbers sound impressive, I hope this investment creates jobs for local Maharashtrian youth as well. Sometimes these global deals only benefit multinationals. The partnership should have clear skilling and employment clauses for residents.
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Nisha Z
The comparison of Pune-Birmingham for auto industry is spot on! We have the talent and the ecosystem. If this brings in advanced EV technology and R&D centres, it can really propel 'Make in India' to the next level. 🇮🇳

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