Mumbai: Devendra Fadnavis has unveiled an ambitious roadmap to transform Maharashtra into a $1 trillion economy by 2030, banking on startups, data centres, global capability centres (GCCs), advanced manufacturing and world-class infrastructure to drive the next phase of growth.
Speaking at the CII Annual Business Summit 2026, Fadnavis said Maharashtra is building a future-ready economic model centred on innovation, technology, urbanisation and ease of doing business, reinforcing its position as India’s leading economic powerhouse.
Maharashtra’s Economy Already Nears $660 Billion
Highlighting the state’s current economic scale of nearly $660 billion, the Chief Minister said Maharashtra is well positioned to become India’s first state to cross the $1 trillion mark.
He emphasized that the state is preparing for a new global economic era in which leadership will be determined by infrastructure, talent, energy security, institutional trust and technological innovation.
“For decades, Maharashtra has been India’s economic engine, but we are now preparing the state for the next era of the global economy,” Fadnavis said.
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‘Startup and Data Centre Capital of India’
Fadnavis described Maharashtra as the “startup and data centre capital of India.”
According to him:
- Maharashtra has the highest concentration of India’s data centre capacity.
- The state is emerging as one of Asia’s most important digital infrastructure corridors.
- Nearly one-fourth of India’s Global Capability Centres (GCCs) are located in Maharashtra.
- Multinational companies increasingly view the state as a preferred destination for technology and operations hubs.
This positions Maharashtra at the centre of India’s expanding digital economy.
Focus on Innovation and Intellectual Property
The Chief Minister said Maharashtra’s economic strategy extends far beyond traditional industrialization and is now focused on creating a knowledge-driven innovation economy.
“Our ambition is to design in Maharashtra, innovate in Maharashtra and build global intellectual property in Maharashtra because future economic leadership will belong to those who create technology,” he said.
The state aims to attract startups, AI companies, semiconductor projects and advanced research-led businesses.
Automotive Sector Transforms into Mobility Ecosystem
Fadnavis also highlighted Maharashtra’s evolving automotive industry, which is shifting toward:
- Electric vehicles (EVs)
- Advanced manufacturing
- Clean mobility technologies
- Technology-led product innovation
The transformation is expected to further strengthen Maharashtra’s position as one of India’s most important industrial states.
Power Tariffs to Be Reduced by 3% Annually
To boost industrial competitiveness and support entrepreneurs, the state government plans to reduce electricity tariffs by 3 per cent every year.
The move is intended to lower operating costs for manufacturers, startups and technology companies, making Maharashtra even more attractive for domestic and foreign investors.
Infrastructure and Ease of Doing Business at the Core
The Chief Minister said the state has spent the past decade improving:
- Ease of doing business
- Urban infrastructure
- Institutional reforms
- Industrial policy
- Investment facilitation
These efforts, combined with major infrastructure projects, are expected to accelerate economic expansion over the next four years.
States Competing for Future Industries
Fadnavis’ remarks come as Indian states compete aggressively to attract investment in:
- Startups
- Artificial intelligence
- Semiconductors
- GCCs
- Data centres
- Digital infrastructure
These sectors are expected to play a crucial role in India’s broader ambition of becoming a developed economy in the coming decades.
