NITI Aayog's Ambitious Plan to Double Mumbai's GDP in Five Years

NITI Aayog aims to transform Mumbai into a global financial hub and double its GDP in five years. A presentation led by CEO B V R Subramaniam highlighted this initiative to Maharashtra Chief Minister Eknath Shinde, emphasizing seven key sectors for development.

NITI Aayog has unveiled a bold initiative to position Mumbai and its surrounding regions as a global financial hub and double the city's GDP within the next five years, the policy think tank announced on Saturday. The study's findings were presented to Maharashtra Chief Minister Eknath Shinde by a team led by NITI Aayog CEO B V R Subramaniam.

In an official communication on social media platform 'X', NITI Aayog stated, 'A presentation of the study was made by Team NITI led by Shri BVR Subramaniam, CEO, NITI Aayog to the Maharashtra Chief Minister. The study sets a target of doubling Mumbai's GDP in the next five years, focusing on seven key sectors.' Chief Minister Shinde highlighted the new direction provided by these initiatives for the state's development and improved communication infrastructure. Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, along with Chief Secretary Sujata Saunik, were also present at the presentation.

The Maharashtra CMO also took to social media 'X' to reiterate, 'The report of the study conducted by NITI Aayog to make Mumbai and its surroundings a global financial hub was handed over to the Chief Minister. These initiatives will give a fresh impetus to the state's growth and enhance communication infrastructure,' the statement read. In July, Prime Minister Narendra Modi emphasized the goal of leveraging Maharashtra's potential to transform it into a global economic powerhouse and make Mumbai the fintech capital of the world.

Maharashtra's Deputy CM, Devendra Fadnavis, highlighted the state's success in attracting foreign direct investment for the second year in a row, quoting Department for Promotion of Industry and Internal Trade (DPIIT) data. According to DPIIT figures, Maharashtra received Rs 1,14,964 crore from foreign investors, marking an increase from the previous year.

(With inputs from agencies.)