Will turn Maharashtra into $1 trillion economy by 2030: Devendra Fadnavis at GWS 2025

Chief minister Devendra Fadnavis on Friday expressed confidence that his government will turn Maharashtra into a $1 trillion economy by 2030, noting that it was the only state to surpass the half-a-trillion dollar economy milestone in India.

Fadnavis, in an interview to Moneycontrol's Managing Editor Nalin Mehta at the Global Wealth Summit 2025 in Mumbai, said that the BJP government mooted the idea of $1 trillion economy back in 2016-17.

"Maharashtra has the power to attract investments, we are trying to leverage that," Fadnavis said at the event.

Fadnavis underpinned Maharashtra’s dominance in attracting capital and its growing role as a fintech and startup hub.

“This year has been good for us in terms of FDI,” he said, underlining the state’s investment momentum.

He pointed out that Maharashtra has consistently led in FDI inflows since 2015, except for two years under the MVA government.

“We have set policies for emerging sectors to attract more investments,” Fadnavis added.

The chief minister also underscored Maharashtra’s leading position in fintech and data infrastructure, citing major developments in Mumbai’s financial ecosystem.

“Maharashtra is the de facto fintech and data capital. NPCI is setting its global headquarters here, so is the NSE,” he noted.

He further revealed that the state government has allocated land to the National Payments Corporation of India (NPCI) for its new global headquarters in Mumbai’s Bandra-Kurla Complex (BKC).

“We have given land to NPCI, and now they are making global headquarters in BKC,” he said.

Speakimg anoit Maharashtra’s growing startup ecosystem, he asserted that the state leads in both the number of startups and total investments.

He highlighted a shift in entrepreneurial trends, with Mumbai emerging as a preferred base for startups over Bengaluru.

“There was a time when entrepreneurs founded their startups in Mumbai and then moved to Bangalore. Now we are seeing reverse migration happening,” he said.

He also said that we will soon see Industry 4.0 in Mumbai.