NITI Aayog's Vision: Doubling Mumbai's GDP in Five Years

A NITI Aayog report aims to double the GDP of the Mumbai Metropolitan Region (MMR) to Rs 26 lakh crore by 2030. The report emphasizes infrastructure, global services, affordable housing, and tourism. Chief Minister Eknath Shinde focuses on affordable housing, employment, and significant investment projects.

A recent report prepared by NITI Aayog outlines an ambitious plan to double the GDP of the Mumbai Metropolitan Region (MMR) within the next five years, transforming it into a global economic hub.

The current GDP of the region is Rs 12 lakh crore (USD 140 billion), and it aims to reach Rs 26 lakh crore (USD 300 billion) by 2030, according to the report submitted to Chief Minister Eknath Shinde by NITI Aayog CEO BVR Subrahmanyam.

The report highlights the need for an additional 30 lakh employment opportunities in the region. Chief Minister Shinde emphasized the critical role of infrastructure and communication facilities in the state's development and mentioned ongoing efforts in this direction.

NITI Aayog's report recommends focusing on seven key sectors: developing Mumbai into a global services hub, offering affordable housing, transforming MMR into a global tourism center, integrating port development, creating an industrial and logistics hub, and building sustainable, high-standard infrastructure. An investment of about Rs 10 to 11 lakh crore from the private sector is deemed essential for these developments.

The MMR includes Mumbai city, its suburbs, and Palghar, Raigad, and Thane districts, contributing a third of Maharashtra's GDP. Shinde also mentioned efforts to promote affordable housing, employment generation, the establishment of a data center in Navi Mumbai, and the Alibag multi-modal corridor. Additionally, investment projects worth Rs 80,000 crore have been sanctioned, with plans to develop the state's 720 km coastline for tourism.

(With inputs from agencies.)