Maharashtra's economy to surpass those of Singapore, UAE in 2 to 3 years: Fadnavis
Maharashtra Chief Minister Devendra Fadnavis announced that the state's economy is expected to surpass those of Singapore and the UAE within the next two to three years. He highlighted the rapid growth driven by innovation, artificial intelligence, and infrastructure development. Currently valued at $660 billion, Maharashtra aims to achieve a $1 trillion economy by 2030.
- ▪Maharashtra is currently the world's 30th largest economy.
- ▪The state has maintained an average growth rate of around 10%.
- ▪Maharashtra has created a separate AI department to promote the use of artificial intelligence across governance and industry.
- ▪The state has achieved a memorandum of understanding-to-investment conversion rate of 55-60%.
- ▪The 'Mahavistar' app provides AI-powered agricultural services to 50 lakh farmers.
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| Original publisher | The Hindu — Top |
| Canonical URL | https://www.thehindu.com/business/Industry/maharashtras-economy-to-surpass-those-of-singapore-uae-in-2-to-3-years-fadnavis/article71010289.ece |
| Publication time | Fri, 22 May 2026 20:23:06 +0530 |
| Retrieval time | 2026-05-22T14:57:02.374Z |
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Mumbai, May 22 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Friday (May 22, 2026) said the State is poised to surpass the economies of Singapore and the UAE in the next two to three years, driven by rapid growth in innovation, artificial intelligence, startups and infrastructure.Maharashtra was not competing with any other Indian State as it has already become the world's 30th largest economy, he said. Work underway to make Maharashtra a $1 trillion economy, State development corporation chiefs saySpeaking at the 'ImagineX 2026' event held at the Jio World Centre here, Mr.
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