With focus on AI and start-ups, technology to serve as foundation of Maharashtra’s growth: CM

Mumbai, Feb 28 (PTI) The Maharashtra government is making special efforts to promote fintech and Artificial Intelligence start-ups as it seeks to make the state a trillion-dollar economy, Chief Minister Devendra Fadnavis said here on Friday.

Technology will serve as the foundation of this economic growth, and the government is positioning the state as a leader in the start-up and technology sector, he said, speaking at the inauguration of the Mumbai Tech Week 2025.

The CM was interviewed by Rishi Darda, joint managing director of the Lokmat Group, at the event.

“My government is making special efforts to accelerate fintech and AI start-ups for a trillion-dollar economy. Technology will serve as the foundation of this growth,” he said.

Some important MoUs to promote technology and innovation were signed at the event in Fadnavis’s presence, officials said.

Among others, Mumbai Metropolitan Region Development Authority signed an MoU with the National Payments Corporation of India (NPCI) for allocating land in Bandra Kurla Complex here for NPCI’s global headquarters.

An agreement was reached between the state’s Information Technology department and Meta for developing a WhatsApp chatbot under the `Aaple Sarkar’ initiative of the government.

The Skill Development, Employment, Entrepreneurship and Innovation Department signed an MoU with TEAM to establish a knowledge AI hub.

The state government also announced the establishment of an `Entrepreneur Museum’ to promote entrepreneurship and innovation.

During the interview, Fadnavis highlighted the impact of the government’s “war room strategy” in accelerating project approvals. Earlier, launching a project in Mumbai required permissions from 18 government agencies, causing delays. By bringing all stakeholders together in a centralized decision-making system, major projects like Metro, Coastal Road and Atal Setu trans-harbour sea bridge were expedited, he said.

His government will focus on three key infrastructure projects in the next five years, Fadnavis said.

The under-development Vadhavan Port near Mumbai will be a “game-changer” for Maharashtra’s economy, he said, adding that it would be three times larger than the existing Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai, with a 20-meter depth to accommodate the world’s largest ships.

Once the Navi Mumbai International Airport & Smart Cities project is completed, a new commercial and tech hub will be developed around the airport, and these new cities will be three times the size of Mumbai, offering more space for industries and businesses, Fadnavis said.

Wainganga-Nalganga and Godavari river linking projects will ensure permanent water supply for farmers in Vidarbha and Marathwada, the CM noted.

On cyber security, Fadnavis, who handles the Home department, said cybercrime is rising globally and by 2030, about 70 per cent of crimes will be cyber-related.

To combat this, the most advanced cybersecurity center in India has been established in Navi Mumbai, connecting banks, social media platforms and financial institutions to prevent online frauds and financial scams, he said.

His government is working on revival of Maharashtra as a “tech hub”, the CM said, claiming that between 2000 and 2014, IT investments in the state declined with many companies shifting to Bengaluru and Hyderabad.

But projects like Atal Setu have positioned Navi Mumbai as the next major technology hub, he stated.

In view of limited commercial space in Mumbai, new cities will be developed in Navi Mumbai, “New Thane” and Vadhavan, the CM said.