‘Maharashtra is very close to becoming…’: Fadnavis bets big on state’s economic trajectory
Speaking at the “ImagiNxt 2026” event in Mumbai, Fadnavis said Maharashtra’s economy could overtake the economies of Singapore and the United Arab Emirates within the next two to three year
- May 26, 2026,
- Updated May 26, 2026 9:05 AM IST
Maharashtra Chief Minister Devendra Fadnavis believes the state is on the edge of becoming one of the world’s biggest economies. Speaking at the “ImagiNxt 2026” event in Mumbai, Fadnavis said Maharashtra’s economy could overtake the economies of Singapore and the United Arab Emirates within the next two to three years.
“Maharashtra is very close to becoming a trillion-dollar economy. In the coming 2-3 years, we will surpass countries like Singapore and UAE in economic size” CM Devendra Fadnavis.
The comparison with Singapore and the UAE has drawn attention because both countries are considered global business and financial hubs. Maharashtra's economic scale is rapidly expanding and placing it among some of the world’s largest regional economies.
Economy at $660 billion and counting
According to the Fadnavis, Maharashtra’s economy is currently valued at nearly $660 billion, making it India’s largest state economy. He said the state’s Gross State Domestic Product(GSDP) has jumped from around ₹14 lakh crore in 2015 to nearly ₹54 lakh crore in 2026, a rise of more than three times in just over a decade.
CM credited this growth to major infrastructure projects, rising foreign investments, rapid industrialisation, and the state’s growing technology ecosystem. Maharashtra continues to lead India in attracting Foreign Direct Investment (FDI) and has become a major hub for startups and unicorn companies, according to Fadnavis.
AI-related plans
A key focus of the government’s future strategy is Artificial Intelligence (AI). At the event, Fadnavis announced plans to attract over ₹10,000 crore in AI investments and create nearly 1.5 lakh AI-related jobs by 2031.
The government also plans to set up five AI innovation cities, six Centres of Excellence, twelve AI Incubators and shared computing infrastructure for young companies and startups.
Fadnavis said Maharashtra is already using AI and blockchain technology in governance and policing to improve efficiency and transparency. The state has also created a dedicated AI department and commissionerate to push digital transformation across sectors.
Large infrastructure projects such as the Mumbai Trans Harbour Link, Samruddhi Expressway, Metro expansion networks and industrial corridors are also being projected as major drivers of future economic growth.
With the strong push towards technology, manufacturing, infrastructure and investment, Maharashtra is now positioning itself as the biggest growth engine of the Indian economy.
Maharashtra Chief Minister Devendra Fadnavis believes the state is on the edge of becoming one of the world’s biggest economies. Speaking at the “ImagiNxt 2026” event in Mumbai, Fadnavis said Maharashtra’s economy could overtake the economies of Singapore and the United Arab Emirates within the next two to three years.
“Maharashtra is very close to becoming a trillion-dollar economy. In the coming 2-3 years, we will surpass countries like Singapore and UAE in economic size” CM Devendra Fadnavis.
The comparison with Singapore and the UAE has drawn attention because both countries are considered global business and financial hubs. Maharashtra's economic scale is rapidly expanding and placing it among some of the world’s largest regional economies.
Economy at $660 billion and counting
According to the Fadnavis, Maharashtra’s economy is currently valued at nearly $660 billion, making it India’s largest state economy. He said the state’s Gross State Domestic Product(GSDP) has jumped from around ₹14 lakh crore in 2015 to nearly ₹54 lakh crore in 2026, a rise of more than three times in just over a decade.
CM credited this growth to major infrastructure projects, rising foreign investments, rapid industrialisation, and the state’s growing technology ecosystem. Maharashtra continues to lead India in attracting Foreign Direct Investment (FDI) and has become a major hub for startups and unicorn companies, according to Fadnavis.
AI-related plans
A key focus of the government’s future strategy is Artificial Intelligence (AI). At the event, Fadnavis announced plans to attract over ₹10,000 crore in AI investments and create nearly 1.5 lakh AI-related jobs by 2031.
The government also plans to set up five AI innovation cities, six Centres of Excellence, twelve AI Incubators and shared computing infrastructure for young companies and startups.
Fadnavis said Maharashtra is already using AI and blockchain technology in governance and policing to improve efficiency and transparency. The state has also created a dedicated AI department and commissionerate to push digital transformation across sectors.
Large infrastructure projects such as the Mumbai Trans Harbour Link, Samruddhi Expressway, Metro expansion networks and industrial corridors are also being projected as major drivers of future economic growth.
With the strong push towards technology, manufacturing, infrastructure and investment, Maharashtra is now positioning itself as the biggest growth engine of the Indian economy.