Devendra Fadnavis Says Maharashtra Is Half A Trillion Economy

Devendra Fadnavis, the deputy chief minister of Maharashtra, declared on Wednesday that the state’s economy is expanding “very fast” and currently has a value of half a trillion dollars.

“Maharashtra consistently ranked number one in attracting investments during 2014-19 and has again regained the number one position during the MahaYuti rule,” Devendra Fadnavis Said while speaking in state council.

His remarks are significant because the state administration, led by Chief Minister Eknath Shinde, has set a lofty goal to grow the GDP to $1 trillion by 2028.

According to Devendra Fadnavis, the state has been leading in a number of areas, particularly when it comes to the state government’s implementation of programs for the general public in a number of areas, including industry, employment, agriculture, youth, and the poor.

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The Opposition claimed that the diamond business had relocated from Mumbai, the center of diamond manufacturing and exportation, to Surat. Fadnavis refuted this assertion.

Elaborating on his point, he said,  “There is a difference in the functioning of Surat Diamond Bourse and Bharat Diamond Bourse in Mumbai. Surat is a manufacturing hub, while Mumbai is a manufacturing and export hub. Not a single industry has moved to Surat from the hub of Mumbai. India’s gems and jewellery exports, worth $38 billion, come from Mumbai alone, which is 75 per cent of the total exports. Almost 97 per cent of the total exports of polished diamonds take place from Mumbai.”

According to Fadnavis, the government has updated the administrative approvals for 121 irrigation projects and stated that the river connection project will utilize the extra water flowing through it.

He said that economic growth will be boosted by the development of the Rs 76,000 crore Vadhavan port, which was recently approved by the Union Cabinet.