Maharashtra: NITI Aayog report sets target of doubling MMR's GDP in five years

A report prepared by the NITI Aayog on the development of the Mumbai Metropolitan Region MMR aims to double the regions Gross Domestic Product GDP in the next five years an official statement said on ThursdayThis is likely to make Mumbai and its satellite towns a global economic hubThe MMR which comprises Mumbai city Mumbai suburbs Palghar Raigad and Thane districts accounts for a third of Maharashtras GDP the report notedAt present the regions GDP is Rs 12 lakh crore USD 140 billion and it should reach Rs 26 lakh crore USD 300 billion by 2030 the report submitted to Maharashtra CM Eknath Shinde saidThe development of Mumbai is seen as crucial for the statersquos overall progress particularly in improving infrastructure and communication Maharashtra Chief Minister Eknath Shindenoted that Maharashtra continues to be a preferred destination for entrepreneursThe report was discussed at a meeting held at the Chief Ministerrsquos residence attended by Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar NITI Aayog CEO BVR Subrahmanyam Chief Secretary Sujata Saunik Additional Chief Secretaries Dr IS Chahal and Vikas Kharge Principal Secretary Brijesh Singh Deputy Chief Ministers Principal Secretary Dr Shrikar Pardeshi NITI Aayogrsquos OP Agarwal Chief Economic Advisor Anna Roy and other senior officialsDuring the meeting NITI Aayogs presentation highlighted the goal of making Mumbai and its surrounding areas a global financial hub CEO Subrahmanyam stated that NITI Aayog is preparing a vision for thirteen states with special attention to the economic development of cities He mentioned that pilot projects are being launched in Mumbai Surat Varanasi and VisakhapatnamThe report said the Maharashtra government needed to focus on seven sectors Developing Mumbai into a global services hub facilitating affordable housing transforming MMR into global tourism centre integrated development of ports in MMR creating an industrial and logistics hub development of cities and sustainable allinclusive infrastructure facilities of global standardsIn private sector investment of about Rs 10 to 11 lakh crore was needed and cities should be developed as growth engines the report saidKey areas of focus include Developing Mumbai as a global services hub Promoting affordable housing Transforming MMR into a global tourism center Integrating port development in MMR for industrial and logistics growth Planning sustainable and inclusive cities Enhancing globallevel civic infrastructure