Maharashtra's Ambitious Quest: Aiming for USD 1 Trillion Economy by 2030

Chief Minister Devendra Fadnavis envisions Maharashtra as a USD 1 trillion economy by 2030, emphasizing the state's economic resilience and growth potential in fintech and startups. Despite budgetary pressures, innovative business models are thriving, and Mumbai is solidifying its status as India's startup capital.

Maharashtra Chief Minister Devendra Fadnavis has set an ambitious target: transforming the state into a USD 1 trillion economy by 2030. Speaking at the Moneycontrol Global Wealth Summit 2025 in Mumbai, Fadnavis highlighted Maharashtra's status as the sole Indian state to surpass the half-trillion milestone.

While discussing economic strategies, Fadnavis stressed the state's commitment to balancing social welfare expenditures with capital investments. Acknowledging the pressure of Rs 60,000 crore annual welfare schemes on the budget, he pointed to innovative business models like the Laadli Bahin Yojana as solutions to foster economic self-reliance among beneficiaries.

Maharashtra's investment allure remains strong, with Mumbai becoming a prime startup hub, gradually outshining Bengaluru. Fadnavis also expressed optimism about global companies like Tesla considering Maharashtra for expansion. In his second term, Fadnavis exudes confidence, highlighting the state's leadership in fintech and data industries as well.

(With inputs from agencies.)