New Delhi: Maharashtra, home to India’s financial capital Mumbai and a hub for industries and start-ups, is poised to become the country’s first $1 trillion
economy, senior state officials said at the News9 Global Summit 2025 on Thursday.
Speaking at the session titled “Maharashtra: Where Innovation Meets Expertise and Enterprise”, the officials — Dr P Anbalagan (Secretary, Industries, Energy, Labour & Mining Department), P Velrasu (CEO, MIDC), and Dipendra Singh Kushwaha (Development Commissioner, Industries) — emphasised on the state’s industrial strength, renewable energy goals, and infrastructure expansion plans.
Maharashtra: The trillion-dollar vision
“If Maharashtra were a country, it would be the 19th largest economy in the world,” said Dr Anbalagan. “We are on track to become India’s first trillion-dollar economy. Maharashtra has always advocated ease of doing business — we make entrepreneurs and investors comfortable. The state contributes one-third of the country’s weaponry production and is leading in all sunrise sectors,” he added.
P Velrasu, CEO of the Maharashtra Industrial Development Corporation (MIDC), said the state’s policies are designed around sustainability and global quality standards.
“We are focusing on futuristic sectors — fuel, semiconductors, and renewable energy. Maharashtra aims to become the top solar energy producer and is introducing a special policy for electric vehicles. Several major EV manufacturers are setting up base here,” he said.
On expanding the state’s energy transition, Dr Anbalagan said: “Maharashtra currently consumes 30 gigawatts of renewable energy, and by 2030, 52 per cent of our total energy use will come from renewables. We aim to be part of a global green grid.”
Maitri 2.0: AI-enabled single window for investors
Talking about the Maitri 2.0 platform, Dipendra Singh Kushwaha described it as a revolutionary single-window clearance system for investors.
“It provides all permissions, approvals, and support needed to set up an industry — from inception to operation. If any department delays, Maitri steps in and ensures clearance within 7–15 days,” he said.
The upgraded portal currently offers 120 online services, powered by AI-based tracking and automation. “We’ve received over 40,000 applications in recent months, with a 99.9 per cent disposal rate — a major jump in investor confidence,” he added.
Mumbai’s infrastructure transformation
Addressing concerns over Mumbai’s monsoon-related infrastructure challenges, Velrasu said the city is undergoing an unprecedented transformation. “Mumbai houses 15 million people. In the last five years, we have significantly upgraded roads and begun encircling the city with a coastal road network comparable to global cities like Dubai,” he said.
The city will soon have 35 km of Metro lines, four airports, and a fifth international airport in Pune, only two hours away. “Mumbai is currently in the pain of transition, but in five years, it will emerge with world-class infrastructure,” Velrasu said.
Dr Anbalagan added that $100 billion will be invested over the next three years, including the construction of the Wadhwan Port, which will be Asia’s largest upon completion.
Kushwaha added that by 2028, travel across Mumbai — “from any tip to another” — will take just 59 minutes.
Development beyond Mumbai
On the issue of uneven industrial development across regions, Dr Anbalagan said the state is working on prosperity corridors to connect underdeveloped regions like Vidarbha and Marathwada.
“The Nagpur–Mumbai Prosperity Corridor will feature 15 industrial nodes covering 17 districts, while another corridor from Nagpur to Goa is being planned,” he said. “Thirty million tonnes of steel will soon be produced in Gadchiroli alone.”
