The Maharashtra chief minister says the state remains on track to become a trillion-dollar economy by 2030 despite global uncertainty, currency shifts and drought risks.
Maharashtra Chief Minister Devendra Fadnavis has renewed his claim that the state is on course to reach a $1 trillion economy by 2030, saying the goal was set a decade ago and that the state has already expanded to about $660 billion. Speaking at the News18 Rising Bharat summit, Fadnavis argued that Maharashtra has continued to draw strong investor interest despite global uncertainty and a shifting rupee-dollar exchange rate.
His latest comments build on a series of similar projections over the past year. In earlier remarks reported by Indian media, Fadnavis had framed the target as achievable by 2029-30, while also warning that severe drought could delay progress towards as late as 2032. He has also described the state’s economic ambition as part of a broader long-term plan that could take Maharashtra to $5 trillion by 2047.
Fadnavis has repeatedly pointed to Maharashtra’s industrial base, trade links and agricultural output as the foundation for that growth. According to reporting by Nation Press earlier this year, he said the state accounts for more than 40 per cent of India’s foreign direct investment and has seen a sharp rise in tax collections since the introduction of the state GST regime. Separate reports have also quoted him as saying Maharashtra converts a larger share of investment agreements into projects than the national average.
The chief minister also used the summit to address wider political and economic issues, including India’s trade talks with the United States. He said his own experience was in negotiating state-level arrangements, but said there was reason to be optimistic. On coalition politics, he acknowledged tensions within the ruling alliance but said consensus had been achieved on most issues. He also referred to the Maratha and Dhangar reservation questions, saying the government was working within constitutional limits while the legal cases proceed.
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