Maha economy to grow over 12 per cent from 2018 to 2030

Terming state of Maharashtra as the power house of the Indian economy, Maharashtra chief minister Devendra Fadnavis said that Maharashtra has been growing more than the national growth rate. He further went on to say that in FY 2016-17, the growth rate of the state stood at 9.5 per cent. While attending Italian Trade Agency’s conference, Fadnavis said, “This year our economy has grown at the rate of 9.5 per cent. From 2018 to 2030, the economy of Maharashtra will grow at the rate of more than 12 per cent. I think there cannot be more opportune time to invest into Maharashtra.” He also went on to say that Maharashtra contributes to 15 per cent of the national GDP and accounts for 25 per cent of Indian exports. He added, “It (Maharashtra) accounts for 30 per cent of the entire FDI that comes to the country.” He highlighted that this year the state made a record as it received 50 per cent of the FDI that came to India. Fadnavis assured the gathering that Mumbai will soon create international financial centre. Maharashtra does not have a designated financial centre in Mumbai, yet when the financial centres over the world is ranked Mumbai is ranked among them. Commenting about the opportunities that are available in the state, Fadnavis said that Maharashtra has investing heavily over infrastructure development of the city. He highlighted innovation and information and communication technology (ICT) as various sectors for investment.

Fadnavis further stated that the state has various policies in food processing. “There is a huge scope for Maharashtra in food processing. Horticulture account for more than 40 per cent of exports of India,” he claimed. “It is the food basket of India.” He mentioned about the defence and aerospace policies that Maharashtra has in place.

Vouching on best human resources on one hand and law and order situation on the other hand, Fadnavis termed this as an opportunity.