Technology as the Cornerstone of a Trillion-Dollar Economy, Says CM Fadnavis

Mumbai, Feb 28 (NationPress) The Chief Minister of Maharashtra, Devendra Fadnavis, stated on Friday that technology serves as the foundation for progress, especially with the state government aiming for a $1 trillion economy. He emphasized that through various state policies, Maharashtra has positioned itself as a leader in the country's startup and technology sectors, with particular focus on enhancing fintech and AI startups.

Following the launch of Mumbai Tech Week 2025, CM Fadnavis outlined a strategic plan for the state's development along with ongoing technology and infrastructure initiatives.

He noted that the war room has expedited decision-making for projects.

“Previously, obtaining permission from 18 different government agencies was necessary to commence a project in Mumbai, leading to significant delays. The war room has centralized all relevant officials, enabling swift decisions. This has accelerated projects such as Metro, Coastal Road, and Atal Setu,” he stated.

CM Fadnavis mentioned that the Maharashtra government is prioritizing three major infrastructure projects over the next five years, including the Vadhvan Port project, which is set to transform Mumbai's economy.

“The Vadhvan Port is three times larger than the current JNPT and features a 20-meter deep port, accommodating the world’s largest vessels. This will secure India a significant position in global maritime trade,” he elaborated.

Additionally, CM Fadnavis highlighted the government's commitment to constructing the Navi Mumbai International Airport and developing a new smart city.

“Upon completion of this airport, a new commercial and technological hub will emerge around it. These new cities will be three times the size of Mumbai, creating substantial industrial opportunities,” he remarked.

He further explained that the river linking project aims to ensure a sustainable water supply for drought-stricken regions in Vidarbha and Marathwada, benefiting numerous farmers and boosting agricultural output.

In response to concerns over cyber security, CM Fadnavis acknowledged the global shift towards cybercrime.

“In the future, it is expected that 70 percent of crimes will be cyber-related. Thus, a state-of-the-art cyber security center has been established in Navi Mumbai. With all banks and social media platforms integrated into this system, prompt action will be taken against financial fraud,” he commented.

CM Fadnavis pointed out that due to a decline in technology investments in Maharashtra from 2000 to 2014, many IT firms relocated to Bengaluru and Hyderabad. However, initiatives like Atal Setu are now transforming Navi Mumbai into a new tech hub, attracting numerous startups and tech companies.

Discussing Mumbai's future development, CM Fadnavis stated that the current lack of commercial space necessitates the establishment of new cities in Navi Mumbai, Naveen Thane, and near Vadhvan Port, thereby alleviating pressure on Mumbai.

In a related event, a Memorandum of Understanding (MoU) was signed between the Mumbai Metropolitan Regional Development Authority and the National Payments Corporation of India (NPCI). Another MoU was established between the Department of Information Technology and Meta concerning the Aaple Sarkar WhatsApp Chatbot. Additionally, an MoU was inked between the Department of Skill, Employment, Entrepreneurship and Innovation and TEAM for the Knowledge AI Hub.

Moreover, the establishment of an Entrepreneur Museum to promote entrepreneurship was announced.