'It will be a record year for FDI,' says Devendra Fadnavis on Maharashtra's economic ambitions

Maharashtra CM Devendra Fadnavis

Maharashtra Chief Minister Devendra Fadnavis, speaking at CNBC-TV18’s India Business Leader Awards (IBLA) in Mumbai, highlighted the state’s potential as India's economic powerhouse. Celebrating the Mahayuti coalition’s decisive electoral victory, he pledged to accelerate Maharashtra's growth, targeting it to become India's first trillion-dollar sub-economy. Maharashtra attracted 52% of India's FDI in the first half of the fiscal, signaling its strong business appeal.

Fadnavis outlined ambitious plans to boost business opportunities, including creating a “third Mumbai” near Navi Mumbai, three times the size of the original city, positioning it as India’s future business capital. He emphasized the state’s infrastructural advancements, including Atal Setu and the upcoming Vadhavan Port, set to transform India's maritime economy. The third Mumbai airport at Vadhavan further underscores Maharashtra's infrastructure leadership.

The Chief Minister acknowledged that Maharashtra had briefly lost its leading FDI position to Karnataka but expressed confidence in reclaiming it. He assured a business-friendly environment and highlighted Maharashtra’s record-breaking FDI inflows, expected to surpass 90% of last year’s figures in just six months.

Reflecting on the coalition's landslide win, Fadnavis credited the success to effective governance and delivery of promises. He underscored Maharashtra’s commitment to fostering economic growth, echoing PM Modi's vision of unity and safety, which resonated strongly during the elections. Concluding on a high note, he reaffirmed Maharashtra’s role as a business magnet and an economic leader in India.