MMR Set to Become $1.5 Trillion Growth Hub
The Mumbai Metropolitan Region (MMR) is set to undergo a transformative phase, with plans to establish seven international business centres, poised to drive its economy to new heights. The ambitious vision aims to elevate the region’s current economy of $140 billion to $300 billion by 2030, with an eye on reaching $1.5 trillion by 2047.
This growth trajectory is part of a broader push for regional development, as outlined by state officials, which includes the construction of world-class infrastructure projects across MMR. These new business hubs will be strategically developed across key areas such as Bandra-Kurla Complex, Kurla-Worli, Wadala, Goregaon, Navi Mumbai, Kharghar, and Virar-Boisar, all of which will be linked by a robust network of metro lines and the coastal road.Among the significant projects, the development of the Vadhavan port in Palghar stands out.
This ambitious project, slated to commence operations by 2030, will integrate with the Mumbai-Nagpur Samruddhi Expressway and the Mumbai-Ahmedabad bullet train corridor, positioning MMR as a crucial gateway for both domestic and international trade. In addition, an innovation city spanning 250 acres in Navi Mumbai is set to create job opportunities, particularly targeting the youth.Further enhancements include the expansion of the metro network with 64.4 km of new lines across Mumbai and Pune, as well as the creation of dedicated logistics infrastructure along the Mumbai-Nagpur expressway, which is expected to provide substantial employment in the region.
The region’s evolving transportation infrastructure will also see the addition of a new elevated road linking Thane, Kalyan, Dombivli, and the Navi Mumbai International Airport. Additionally, the Mumbai-Nagpur highway will support agro-logistics hubs, catering to the agricultural needs of nearby regions.While these projects hold the potential for immense economic and infrastructural gains, experts urge that sustainability and equitable growth should remain central to the development process, ensuring that these advancements are eco-friendly, gender-neutral, and contribute to zero net carbon emissions.
