Growth Plans
Aim to make Maharashtra first $1-tln state econ by 2028-2030, says Fadnavis
This story was originally published at 14:34 IST on 13 December 2024
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MUMBAI – Maharashtra's newly appointed Chief Minister Devendra Fadnavis Friday said he aims to make the state the nation's first $1-trillion state economy by 2028-2030. He said to support this vision, an economic advisory council has been established to develop appropriate policies.
Fadnavis said the speed and cost of travel and data will be crucial for growth. "The state is focusing on logistics infrastructure, including high-speed highways like the Samruddhi Expressway, which connects 16 districts to JNPT (Jawaharlal Nehru Port Authority) port for port-led development," he said at the World Hindu Economic Forum.
He also announced plans for a new port at Vadhavan, which will be three times larger than JNPT and capable of accommodating the largest ships.
On technology, Fadnavis said he aims to make Maharashtra the digital capital of the country. He emphasised that data speed is as vital as physical infrastructure as India transitions into a digital economy, noting that Maharashtra holds 65% of the nation's data centre capacity.
He also plans to increase Maharashtra's share in renewable energy to 52% by 2030. In 2023-24 (Apr-Mar), Maharashtra ranked 6th in the country for renewable energy generation, with a total contribution of 24.03 billion units and a share of 6.68%, according to Ministry of New and Renewable Energy data. For energy generated from solar, wind, bio power, and small hydro power, Maharashtra held the 5th position, generating 18.77 billion units and accounting for 8.31% of the total.
In FY24, renewable energy accounted for 14.22% to the state's total energy generation. Of the total renewable energy generation, wind power was the largest contributor at 34.24%, followed by solar power at 24.20%, the data showed. End
Reported by Kshipra Petkar and Darshan Nakhwa
Edited by Ashish Shirke
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