Chief Minister Devendra Fadnavis on Friday, 22 May asserted that Maharashtra is surging ahead in research, innovation, and global economic stature, positioning the state as India's undisputed leader in technology-driven growth and startup culture. Speaking in a detailed interview to an English television channel, Fadnavis laid out an ambitious roadmap anchored in Artificial Intelligence (AI), structural planning, and aggressive investment conversion.

Maharashtra's Economic Scale

Fadnavis highlighted that Maharashtra's economy has grown from approximately ₹14 lakh crore in 2015 to ₹54 lakh crore today — more than tripling in a decade. The state's economy currently stands at $660 billion, growing at a steady Compound Annual Growth Rate (CAGR) of 10 per cent. At this pace, Fadnavis projected Maharashtra will achieve its $1 trillion economy target by 2030, even accounting for short-term disruptions such as the El Niño weather patterns recorded in 2025–2026.

Notably, Maharashtra has already emerged as the 30th largest economy in the world, and Fadnavis claimed that within the next two to three years, the state is on course to surpass the economies of Singapore and the United Arab Emirates (UAE).

AI and Technology as Growth Engines

The Chief Minister emphasised that rapid AI adoption is central to sustaining Maharashtra's economic leadership. The state government has established a dedicated department for Artificial Intelligence along with a specialised Commissionerate. Technology tools including Geographic Information Systems (GIS), data tracking, and centralised data pools are being deployed as force multipliers across governance and industry.

'As we enter the era of AI, we must welcome it with an open mind. The more data we generate, the better trained our AI models become,' Fadnavis said. He added that with over 65 per cent of Maharashtra's population under the age of 35, AI adoption across the state is 'entirely seamless.'

Viksit Maharashtra 2047 and Structural Planning

To institutionalise this growth, the government has drafted the 'Viksit Maharashtra 2047' vision document, which outlines short-term goals up to 2030, mid-term milestones up to 2035, and long-term targets up to 2047. An Economic Advisory Council has been constituted to develop a dedicated development blueprint for every sector.

On administrative efficiency, Fadnavis said the government has mapped 2,000 specific data points across state departments, with a Vision Management Unit monitoring real-time progress. Department performance rates currently range between 75 per cent and 95 per cent, according to the Chief Minister.

Investment Conversion: Maharashtra Ahead of National Average

Fadnavis underscored Maharashtra's exceptional track record in converting intent into investment. While the national average for converting Memorandums of Understanding (MoUs) into on-ground investments stands at 35 per cent, Maharashtra maintains a conversion rate of 55 to 60 per cent.

The Chief Minister pointed to an even more striking figure: MoUs signed at the World Economic Forum in Davos carry an investment conversion rate of 85 per cent. He attributed this to a dedicated 'Relationship Manager' assigned to every MoU, with progress monitored directly through the Chief Minister's War Room.

Maharashtra as Startup and Unicorn Capital

Fadnavis reiterated that Maharashtra remains the startup and unicorn capital of India, with no other state matching it in research output, innovation infrastructure, or revenue generation. The state's ecosystem, he argued, is uniquely positioned for new industries, tech-driven businesses, and data centres. With the structural frameworks now in place, the administration is betting that Maharashtra's economic trajectory will be self-sustaining through the decade.