Maharashtra Sets Ambitious Goal to Become USD 5 Trillion Economy by 2047, Says Fadnavis

Maharashtra is aiming to become a five trillion dollar economy by 2047, according to Chief Minister Devendra Fadnavis. During the NITI Aayog Governing Council meeting, Fadnavis highlighted the state's commitment to development and heritage preservation, aligning with India's goal of becoming a developed nation by 2047.

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Fadnavis outlined Maharashtra's vision in three phases, targeting a one-trillion-dollar economy by 2030. The government has initiated a 100-day programme focusing on good governance, citizen-centric reforms, and accountability. Over 700 targets have been achieved by various departments during this period.

Maharashtra's Economic Vision

The state has embarked on a 150-day action plan with a long-term vision for 2047. This includes a medium-term plan for 2035, coinciding with Maharashtra's 75th anniversary, and a short-term five-year plan for 2029 with annual targets. The ultimate aim is to transform Maharashtra into a USD one trillion economy by 2030 and USD five trillion by 2047.

Fadnavis praised the Indian armed forces and Prime Minister Narendra Modi for the successful Operation Sindoor. He also introduced a roadmap for green energy transition. Power purchase agreements totalling 45,500 MW have been signed, with 36,000 MW dedicated to green energy.

Green Energy Initiatives

By 2030, Maharashtra plans to source 52 per cent of its energy from green sources. Under the Saurgram Solar Village Scheme, 15 villages have already transitioned to complete solar power. These initiatives are part of the state's broader strategy to boost sustainable energy use.

Maharashtra has become an attractive destination for investment, securing Rs 1.39 lakh crore in foreign direct investment (FDI) in the first quarter of 2024-25. This figure represents the highest FDI in India during this period, showcasing Maharashtra's growing economic appeal.

The state's efforts reflect its dedication to achieving significant economic milestones while promoting sustainable development and investment opportunities.

With inputs from PTI