Maharashtra plans new innovation city, AI leadership in technology push

The Maharashtra government is taking major steps in boosting the state's and the Mumbai Metropolitan Region's technology capabilities, as a part of the vision to make the state a $1 trillion economy.

"If you look at our last seven years of CAGR (compounded annual growth), we have grown at around 10 per cent (excluding COVID). And, I think if we continue to do that, next, let's say, four to five years, we will be trillion dollar economy," said Maharashtra Chief Minister Devendra Fadnavis.

Speaking at the Nasscom Technology and Leadership Forum in Mumbai, Fadnavis said the state was planning a 300-acre innovation city in Navi Mumbai.

Mumbai's second airport is coming up in Navi Mumbai and the government has ambitious plans to develop a new tech-enabled city, what it calls Third Mumbai, around it.

He says over time with the kind of development happening, the Mumbai Metropolitan Region could itself become a $1.5 trillion economy over time.

Fadnavis pointed out that the state was already contributing to 60 per cent of India's data centre capacity. He wants the state to lead in AI too.

"Today in Maharashtra, 10,000 women, with the help of Microsoft, we are training 10,000 women in AI," said Fadnavis.

The government is in active talks with 4-5 global capability centres (GCC) to invest in the state.

All this tech infrastructure will also need significant availability of power, he said. Fadnavis also added that the state will increase power generation capacity by 2030 to 75 GW from 45 GW. Around half of it will be from renewable energy sources, he said.