Maharashtra will continue to lead in capex, says Devendra Fadnavis

Maharashtra will continue to lead states in infrastructure spending and cut power tariffs by 3 per cent annually till 2030, Chief Minister Devendra Fadnavis said

Describing infrastructure as destiny, Maharashtra Chief Minister Devendra Fadnavis on Monday said his government is committed to making the state a $1 trillion economy by 2030 and will continue to lead other states in capital expenditure on infrastructure projects.

 

Addressing the Confederation of Indian Industry’s (CII’s) Annual Business Summit 2026 here, Fadnavis said there has been continuity of policies in the state during successive governments and there have been no “knee-jerk policy changes”.

 

Fadnavis said in 2020 Maharashtra accounted for 49 per cent of the country’s big-ticket infrastructure projects, a trend that continues, and his government has targeted 100 reforms, 25 of which have been implemented, to further improve the state’s ease of doing business. He said under the state's Maharashtra Industry, Trade and Investment Facilitation, or MAITRI, the government has cleared 96 per cent of the projects. He said Maharashtra is the only state that has committed to bringing down the cost of power by 3 per cent every year between 2025 and 2030.

 

 

Fadnavis said the world today is passing through simultaneous disruptions — geopolitical fragmentation, technological upheaval, energy transition, supply chain realignment and deep uncertainty about the future of growth itself. He said India inspires confidence globally in this uncertain world not only because it is a big market, but also due to its demographic advantages, stability, resilience and the capacity to execute.

 

Fadnavis said states will have to drive the objective of achieving a developed India by 2047 and Maharashtra intends to lead this journey. Today, Maharashtra has a $660 billion economy, which is 15 per cent of India’s GDP and gets 40 per cent of the country’s cumulative foreign direct investment, the CM said. He said the western state accounts for one-fifth of India’s engineering exports and is the country’s data centre and startup capital, and will not only become a $1 trillion economy by 2030, but also one of the most significant regional economies in Asia. He said Maharashtra attracted ₹30 trillion worth of investment proposals at this year’s World Economic Forum summit at Davos.

 

The Maharashtra CM said investors today are not only looking for incentives, but also certainties, which the state offers. “In a world of uncertainty, trust becomes economic capital and Maharashtra has worked consciously to build this trust,” he said, adding that the future economy will be built on highways, ports, airports, digital networks, research labs, startup ecosystems and universities, and detailed his state’s efforts.

 

Fadnavis said Maharashtra is investing at an unprecedented scale in infrastructure, which alone will not suffice since the next phase of growth will belong to places that lead in new and emerging technologies. He said 24 per cent of India’s GCCs, 60 per cent of its data centre capacity and 20 per cent of the country’s automobile output and EV manufacturing are in Maharashtra. Industry will look at investment destinations based on access to reliable green energy, resilient supply chains and a climate-resilient ecosystem, while entrepreneurs and professionals no longer look only at salaries but ecosystems where quality of life exists, which is why Maharashtra’s urban transformation in recent years is key. The CM said apart from Mumbai, which remains the country’s financial capital, Pune’s manufacturing, Nagpur’s logistics and geostrategic industries are coming up, while Chhatrapati Sambhajinagar and Nashik are emerging as new-age manufacturing hubs and Gadchiroli will, by 2032, become India’s first “green steel hub”. Fadnavis stressed that balanced regional development is socially important. He said Maharashtra’s strength is its openness and ability to absorb people and innovation.

 

The Maharashtra CM told the gathering comprising industrialists and businesspersons that the challenge confronting them in this journey to 2047 is to do what is right and yet remain profitable. “The challenge my fraternity will face is to do what is right and yet get elected,” he said.