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Maharashtra Chief Minister Devendra Fadnavis has outlined an ambitious vision to transform Sambhaji Nagar into India’s electric vehicle (EV) capital and Gadchiroli into a major steel hub. Speaking at a business forum in Mumbai on March 25, 2025, he highlighted the state’s strategic initiatives to drive economic growth and innovation.
Sambhaji Nagar's EV ecosystem is rapidly expanding, with Ather joining Toyota and JSW in establishing manufacturing facilities, solidifying the region’s status as a key player in India’s EV industry. Meanwhile, Gadchiroli has secured investments worth ₹2 lakh crore, positioning itself as a significant force in the steel sector.
Fadnavis also underscored Indian companies’ $40 billion investments in the U.S., many of which are headquartered in Maharashtra. Additionally, he announced the development of a 300-acre "Innovation City" near Navi Mumbai Airport, set to launch in May 2025, with Tata Sons Chairman N Chandrasekaran contributing to its design.
Maharashtra is embracing the global capability centre (GCC) revolution by establishing dedicated zones to attract GCCs, further strengthening Mumbai’s position as India’s fintech hub. The state is also planning a new city near Navi Mumbai Airport and a “4th Mumbai” near Wadhawan Port, featuring an airport and a bullet train station to enhance connectivity and economic expansion.
By 2028, Maharashtra aims to supply green power to all major industrial corridors, with full operational capacity targeted by 2030. "Maharashtra accounts for 14% of India's GDP and remains the top choice for investors," Fadnavis stated, reaffirming the state’s pivotal role in India's economic landscape.
News by Rahul Yelligetti.
