How Will Viksit Maharashtra Achieve a $1 Trillion Economy by 2030 and $5 Trillion by 2047?

Mumbai, Sep 8 (NationPress) The Maharashtra government, as outlined in the Viksit Maharashtra 2047 document, aims to create a $1 trillion economy by 2030 and a $5 trillion economy by 2047, significantly increasing from the current $550 billion through enhanced support for the manufacturing sector.

During a recent review, Chief Minister Devendra Fadnavis emphasized the document's focus on various sectors, including industries, water resources, energy, education, and health, to meet these ambitious goals.

A senior official present at the meeting stated, "The manufacturing sector's contribution to the gross state domestic product is currently low compared to states like Tamil Nadu and Telangana. We expect the industrial GDP to rise from $122 billion to $275 billion by 2029, $550 billion by 2035, and ultimately $1,500 billion by 2047. Industrial exports will also increase from $66 billion to $150 billion, then $350 billion, and finally reach $950 billion."

The government plans to generate 52 percent of the state's energy from renewable sources by 2030, along with lower electricity tariffs for industrial consumers. The Viksit Maharashtra 2047 document outlines goals for all townships to achieve net zero energy, water, and waste certification.

There are proposals to establish a fully self-sustainable MSME ecosystem with cluster-based financing and local dispute resolution bodies. Additionally, a deregulation commission, land use policy, and statewide land restoration plans for industrial purposes will be set up. Each business will have a dynamic QR-coded passport ledger detailing filings, fees, and inspection history for automated compliance.

The government also intends to ensure a time-bound service guarantee, promising 7 days for land mutation, 30 days for building plans, and one day for electricity connections.

To bolster skill development, plans include setting up scale clusters in each district to attract upstream and downstream industries, aiming to close the per capita income gap with the state average.

Furthermore, priority regions and sectors will be identified for subsidized research laboratories, and a single-window portal for intellectual property and regulatory clearances will be established. The government aims to accelerate technology commercialization through a global investor and customer platform, positioning Maharashtra as India’s research and development hub.

In his address, CM Fadnavis compared the Maharashtra Vision Document 2047 to revered texts, stating that it serves as a guiding principle for future policies. "Vision is the direction; our goals must be clear. We must strive to turn this vision into reality. With consistent effort over the next five years, we can achieve a Viksit Maharashtra by 2047," he affirmed.

Deputy Chief Minister Eknath Shinde added that this vision provides a roadmap for the state’s future. "Big dreams pave the way for progress. Both the government and administration share responsibility. This vision holds the potential to meet the aspirations of the people, especially the most marginalized sectors," he noted.

(Sanjay Jog can be contacted at sanjay.j@ians.in)