Maharashtra Chief Minister Devendra Fadnavis unveiled ambitious economic plans at the World Hindu Economic Forum (WHEF) 2024, positioning the state to become India’s first $1 trillion economy by 2028-2030.

Speaking to over 1,000 global delegates, Fadnavis highlighted India’s rapid economic transformation, emphasizing a growth model that prioritizes inclusive development. The state aims to contribute significantly to the country’s broader economic goals of reaching a $5 trillion economy by 2030, with some forecasts suggesting a potential $7-9 trillion milestone.

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Key strategic focus include infrastructure development and technological innovation. Fadnavis announced plans for a new port at Vadhavan, which will be three times larger than the Jawaharlal Nehru Port Trust (JNPT) and capable of accommodating large ships. The state currently hosts 49 per cent of major national infrastructure projects, with recent achievements including the completion of a 22 km sea link within five years.

The Chief Minister emphasized Maharashtra’s critical role in India’s digital economy, noting that the state controls 65 per cent of the nation’s data center capacity. He stressed the importance of technological disruption as a tool for inclusivity, viewing technology as a means to democratize service access.

Economic and environmental initiatives were also highlighted. Maharashtra plans to increase its renewable energy share to 52 per cent by 2030, with ongoing efforts in water conservation and forest cover improvement. The state has already demonstrated significant poverty alleviation, with India lifting 250 million people out of poverty.

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An Economic Advisory Council has been established to develop policies supporting accelerated growth. Fadnavis contrasted this approach with Western economic models, emphasizing a growth strategy rooted in community support and collective well-being.

The WHEF 2024 conference, which opened with a moment of silence honoring the late Padma Vibhushan Ratan Tata, will continue for three days.