7 Jewels of MMR: International Business Hubs Spark Economic Boom

The Mumbai Metropolitan Region (MMR) is poised for significant economic expansion, with the Maharashtra government unveiling plans to establish seven international business centres. This initiative aims to propel the region’s economy from USD 140 billion to USD 300 billion by 2030 and USD 1.5 trillion by 2047.

Presenting the FY26 Budget, State Finance Minister Ajit Pawar highlighted major infrastructure projects to drive this growth. The proposed business hubs will be developed in Bandra-Kurla Complex, Kurla-Worli, Wadala, Goregaon, Navi Mumbai, Kharghar, and Virar-Boisar.

A new elevated road will enhance connectivity between Thane, Kalyan, Dombivli, and the Navi Mumbai International Airport, which is set to begin domestic operations in April, with 85% of construction completed. Additionally, the Vadhavan Port in Palghar will be integrated with the Mumbai-Nagpur Samruddhi Expressway and the Mumbai-Ahmedabad bullet train, with plans to link it to Palghar Airport.

The government also envisions a comprehensive metro network and a Coastal Road to improve regional connectivity. An innovation city spanning 250 acres in Navi Mumbai is set to generate employment opportunities, while the Vadhavan Port, expected to commence operations in 2030, will be supported by a third airport in the region.

Further infrastructure developments include a Rs 4,259 crore MoU with a private company to develop a port at Murbe in Palghar district. Upcoming metro expansions include 41.2 km in Mumbai and 23.2 km in Pune, set for construction in the next financial year.

Key road projects include the Thane Coastal Highway (Rs 3,364 crore) and the 14 km Bandra-Versova Sealink, slated for completion by 2028, while the Worli-Sewri connector is expected to be operational by March 2026.

News by Rahul Yelligetti.