Maharashtra Accelerates March Towards $1 Trillion Economy: Fadnavis Urges AIIB Backing

State Seeks Investment Support For Major Infrastructure, River Linking And Solar Projects Till 2047

In a strong push for economic transformation, Maharashtra Chief Minister Devendra Fadnavis declared that the state is rapidly progressing toward a $1 trillion economy, playing a pivotal role in India’s broader ambition of achieving a $5 trillion economy. Speaking at a high-level meeting with the Asian Infrastructure Investment Bank (AIIB), he urged the global bank to actively support Maharashtra’s long-term developmental roadmap through to 2047.

The meeting, held at Mumbai’s Sahyadri Guest House, featured AIIB Vice President for Investment Solutions, Ajay Kumar Pandey, alongside top state officials and planners. The chief minister presented a vision centered on short-term, mid-term, and long-term infrastructure goals, highlighting the need for strong financial collaboration from multilateral agencies like AIIB.

Multi-Sector Blueprint: From Rivers to Renewables

Fadnavis emphasized that nine major infrastructure proposals have already been submitted to NITI Aayog and the Union Finance Ministry. A key focus is the interlinking of rivers, including five large-scale projects currently in motion. Among them, the Wainganga-Nalganga-Penganga river linkage is in its final survey stage. Once executed, the project will benefit not only agriculture but also industrial zones, according to officials.

Another ambitious project is the Damanganga-Godavari river linkage, which aims to divert seawater into the drought-prone Marathwada region. The state is also targeting 100 GW of energy generation through pumped storage technology, with plans to link private sector players directly to AIIB for funding support.

Solar Power For Farmers, Metro Expansion For Cities

Fadnavis also spotlighted Maharashtra’s aggressive push for solar-powered irrigation pumps, positioning the initiative as a national model. Each year, the state plans to deploy 300,000 to 400,000 solar pumps, aiding small farmers while reducing grid dependency. The state has sought AIIB’s assistance in scaling up the program.

In urban areas, multiple transport and mobility projects are underway — including underground and elevated metros, sub-surface highways, and coastal road corridors — to meet the demands of rapid urbanization and mobility.

AIIB Signals Positive Intent

AIIB Vice President Pandey outlined the bank’s ongoing commitments across Asia and reiterated support for Maharashtra’s evolving infrastructure needs. “We are committed to partnering with governments that demonstrate visionary planning and robust execution,” he noted.

The session was inaugurated by Praveen Pardeshi, CEO of the state’s flagship planning think tank ‘Mitra’. The meeting was attended by Maharashtra’s Chief Secretary Rajesh Kumar, MMRDA Commissioner Sanjay Mukherjee, BMC Commissioner Bhushan Gagrani, CIDCO MD Vijay Singhal, and several Additional Chief Secretaries from key departments including Public Works and Finance.