Maharashtra’s Rise in Innovation and Global Economy – Chief Minister Devendra Fadnavis

Mumbai, May 2026: Maharashtra is making its mark across all sectors in India with the help of artificial intelligence and emerging technologies, Chief Minister Devendra Fadnavis said, adding that the state is rapidly strengthening its position in research, innovation, infrastructure, and economic output.

Speaking at the “ImagineX 2026” event at the Jio World Centre in Mumbai, where he was interviewed by Republic Media Network Editor Arnab Goswami, the Chief Minister said Maharashtra is emerging as a leading ecosystem for new industries, technology-driven businesses, and data centre-based investments.

Fadnavis said Maharashtra has already established itself as the “startup and unicorn capital” of India. In 2015, the state’s economy stood at around ₹14 lakh crore, which has now grown to ₹54 lakh crore. “We have more than tripled the size of the economy in the last 10 years,” he said, adding that Maharashtra is now a $660 billion economy growing at an average rate of 10 per cent.

He expressed confidence that the state will achieve its goal of becoming a $1 trillion economy by 2030, even after accounting for possible disruptions such as natural challenges. “No other Indian state is as close to this goal as Maharashtra,” he said, noting that the state already ranks among the world’s 30 largest economies and is expected to surpass Singapore and the UAE in the next two to three years.

According to the Chief Minister, technology and artificial intelligence are acting as “force multipliers” in this transformation. The government is using GIS systems, data tracking, and integrated data platforms to improve governance and economic planning. He said a dedicated Economic Advisory Committee has been formed to prepare sector-wise development roadmaps under the “Developed Maharashtra 2047” vision, which includes short-term (2030), medium-term (2035), and long-term (2047) goals.

Fadnavis also highlighted governance reforms, stating that around 2,000 data points have been identified and assigned to departments for performance tracking. A Vision Management Unit has been set up to monitor progress, with departmental performance currently ranging between 75 and 95 per cent.

He further noted that Maharashtra has achieved a 55–60 per cent conversion rate of MoUs into actual investments, significantly higher than the national average of 35 per cent. The state also recorded an 85 per cent conversion rate for agreements signed at Davos, with each MoU monitored by a dedicated relationship manager.

On artificial intelligence, Fadnavis said Maharashtra has created a dedicated AI department and commissionerate. AI is already being used in governance and the criminal justice system, where processes from crime scenes to charge sheets have been digitised and secured using blockchain technology.

He also mentioned the “Mahavistar” app for farmers, which has been downloaded by 5 million users. The platform serves as a one-stop solution for agriculture and includes an AI-based assistant that supports farmers in multiple languages, including tribal dialects like Bhilli.

“With a young population—over 65 per cent under the age of 35—India is naturally suited for AI adoption. We must embrace this technology with an open mind,” he said.