Modi Inaugurates ‘Magnetic Maharastra’ Conference | SupportBiz
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Modi Inaugurates ‘Magnetic Maharastra’ Conference

Prime Minister Narendra Modi on Sunday said that Maharashtra will become the country's first trillion dollar economy. Speaking at the "Magnetic Maharashtra" Global Investors' Summit in Mumbai, PM Modi said Maharashtra's development was representative of the changes in the country.

The BJP-led government's budget reforms have created a new work culture and are  transforming the socio-economic landscape of the country, PM Modi said at the event. "Our budget is not limited to outlay, its focus is on outcome. Our reforms in budget making and presentation have created a new work culture and are transforming the socio-economic landscape," he said.

"We are moving in a direction where the state is policy driven, governance is performance driven, government is accountable and democracy is participative," he said at the event in Mumbai. "We are working in times of disruptions and discontent," PM Modi added.

In the last three and half years, the government has transformed the country from being a fragile five' nation to one now aspiring USD 5 trillion GDP, he said. In the last three and half years, the government has transformed the country from being a 'fragile five' nation to one now aspiring for $5 trillion GDP, he said.

A country progresses only when it has a vision and works for inclusiveness, PM Modi said. "Potential, policy, planning and performance leads to progress." He said the government in the last three years has repealed 1,400 laws and the new ones are being written with the intent of simplification, not to complicate (things). On investments, he said there is a healthy competition among states to attract investments as per their strengths.

The 'Samruddhi corridor' between Mumbai and Nagpur will help boost agriculture and agriculture-based industries, he said. On the centre's development initiatives, PM Modi said, "We will create 1.5 lakh wellness centres in bigger gram panchayats".Besides, PM Modi said, 10.5 crore people have been accepted under the MUDRA scheme and Rs. 4.60 lakh crore has been disbursed to small businesses.

Key Investments Expected: Fadnavis

Maharashtra chief minister Devendra Fadnavis today said the state is targeting investments of around Rs 12 trillion in a host of sectors like defence, aerospace, infrastructure, and gems & jewellery among other from the ongoing investor summit. Fadnavis said the state will sign investment agreements with over two dozen companies in the next two days. Investments would come in almost every sector, including aerospace, logistics and electric vehicle manufacturing and services industry, he added

"I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network that could dramatically reduce travel times between India's major cities to as little as two hours," said Sir Richard Branson. "Virgin Hyperloop One can help India become a global transportation pioneer and forge a new world-changing industry."

The hyperloop route will link central Pune, Navi Mumbai International Airport, and Mumbai in 25-minutes, connecting 26 million people and creating a thriving, competitive megaregion. The high-capacity passenger and cargo hyperloop route eventually will support 150 million passenger trips annually, saving more than 90 million hours of travel time, and providing citizens with greater opportunities and social and economic mobility. The hyperloop system will also have the potential for the rapid movement of palletized freight and light cargo between the Port of Mumbai and Pune, creating a robust backbone for on-demand deliveries, supply chains, and next-generation logistics.