Mumbai: Maharashtra Deputy Chief Minister Ajit Pawar announced in the state budget on Monday that at least seven international-standard business centers will be established in Mumbai. This initiative aims to boost the city’s economy from its current $140 billion to $1.5 trillion by 2047.
Ajit Pawar, who presented the budget for the fiscal year 2025-26 in the state assembly, stated that the Mumbai Metropolitan Region will be developed as a growth hub and an international-standard economic development center. The business centers will be located in key areas such as the Bandra-Kurla Complex (BKC), Kurla-Worli, Wadala, Goregaon, Navi Mumbai, Kharghar, and the Virar-Bhoisar region.
Pawar also highlighted that the state government holds a 26% stake in the Vadhavan Port, which is being constructed at a cost of Rs 76,220 crore. The port, with an annual cargo handling capacity of approximately 300 million metric tonnes (three times that of the Jawaharlal Nehru Port Trust), is expected to commence operations by 2030. It will also be connected to the Mumbai-Nagpur Samruddhi Expressway and will house the third airport for Mumbai and the Mumbai-Ahmedabad bullet train station nearby.
In addition, the state government plans to introduce a policy to provide financial incentives for modern, well-equipped boats to ensure safe travel between the Gateway of India, Mandwa, and Elephanta.
Pawar announced that the metro project connecting Mumbai’s Chhatrapati Shivaji Maharaj International Airport to the Navi Mumbai International Airport is set to begin soon. The Navi Mumbai International Airport at Ulwe, spanning 1,160 hectares, will have the capacity to handle 90 million passengers and 2.6 million tonnes of cargo annually. About 85% of the work is complete, with test flights successfully conducted, and domestic operations are expected to start in April.
In the next financial year, 64.4 km of metro lines will be inaugurated—41.2 km in Mumbai and 23.2 km in Pune—while 237.5 km of metro lines will become operational over the next five years.
Furthermore, the Dr. Babasaheb Ambedkar International Airport in Nagpur is being upgraded and modernized through private participation, which will enhance its passenger and cargo capacity and boost Vidarbha’s economic growth. The government also plans to launch passenger services at Amravati Airport by the end of this month. Survey and exploration work for a new airport in Gadchiroli is underway, and funds will be allocated for the expansion of Akola Airport.
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