Maharashtra's $1 trillion economy vision finds strong global support in AIIB: CM Fadnavis

Mumbai, July 31 (IANS) Maharashtra Chief Minister Devendra Fadnavis, on Thursday, appealed to the Asian Infrastructure Investment Bank (AIIB) to provide financial assistance in achieving the state's goal of becoming a one trillion dollar economy and also cooperate in realising the dream of a 'Viksit Maharashtra' by 2047.

In his meeting with the AIIB Vice President Ajay Bhushan Pandey, the Chief Minister said that the state government has firmed up a plan for Viksit Maharashtra in three phases and accordingly short-term, medium-term and long-term goals have been set.

He also said that work on infrastructure projects is underway rapidly in the state.

"Many projects are proposed. This will require the help of many financial institutions," Chief Minister Fadnavis added.

He expressed happiness that institutions like the AIIB are supporting Maharashtra for these projects.

"The discussion focused on long-term collaboration to strengthen Maharashtra's development roadmap. The state is steadily progressing towards the goal of becoming a $1 trillion economy and contributing significantly to India's $5 trillion economy vision. A structured plan is in motion, with short-term targets set for 2029, mid-term goals for 2035 as Maharashtra turns 75, and a long-term vision for 2047 aligned with the 'Amrit Kaal' vision of Prime Minister Narendra Modi. To support this vision, a robust project pipeline is being prepared. Nine major proposals have already been submitted to the NITI Aayog and the Ministry of Finance. Five river-linking projects are underway to address water scarcity and support agriculture and industry," the Chief Minister said.

He added that Maharashtra is also scaling up in energy and urban transformation.

"The aim is to generate one lakh MW power through pump storage. Solar initiatives are transforming rural areas, with three to four lakh solar pumps being installed each year for farmers," he said.

"Urban Maharashtra is being reshaped with metro lines, coastal roads, and underground networks. With strong planning, focused execution, and global partnerships, Maharashtra is moving confidently towards building a stronger, future-ready, and truly developed state," he noted.

On this occasion, the bank's Vice-President Ajay Kumar Pandey gave information about the bank's ongoing projects in Asia and the world.

He also assured of support for ongoing projects in the state and for future projects, the government statement said.

--IANS

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