MMRDA & NITI Aayog Discuss Steps To Boost Mumbai’s Global Financial Status

In a crucial step towards transforming the Mumbai Metropolitan Region (MMR) into a global financial hub, NITI Aayog CEO B.V.R. Subrahmanyam met with Dr. Sanjay Mukherjee, Metropolitan Commissioner of the Mumbai Metropolitan Region Development Authority (MMRDA) on Wednesday to discuss key infrastructure and economic initiatives.

"As part of the G-HUB Initiative, a visionary effort to develop city-regions into economic powerhouses, MMRDA and NITI Aayog are collaborating to establish a Growth Hub in MMR. This initiative is designed to enhance economic competitiveness through strategic assessments, SWOT analysis, and long-term goal setting, aligning with India’s vision of becoming a $35-$45 trillion economy by 2047," an MMRDA official said.

Mumbai, Surat, Visakhapatnam, and Varanasi have been selected as pilot cities for this ambitious project. The Growth Hub will focus on sustainable development, innovation, and infrastructural transformation to position these cities as key contributors to India’s economic expansion.

Additionally, the Government of Maharashtra is actively implementing various projects aligned with its $1 trillion economy vision. Insights from the Maharashtra Economic Advisory Council’s 2022 report are playing a crucial role in shaping policies aimed at boosting investment, urban infrastructure, and industrial growth.

This collaboration between NITI Aayog and MMRDA is expected to accelerate MMR’s evolution into a global economic and financial center, further solidifying Mumbai’s status as India’s financial capital.