Mumbai is poised to emerge as the gateway for global capital in the coming years, Maharashtra Chief Minister Devendra Fadnavis declared on Tuesday at the opening of a three-day Global Economic Cooperation Conference. He emphasized that Mumbai and Maharashtra will play a pivotal role in fostering global economic stability amid shifting geopolitical dynamics.
Fadnavis highlighted the concept of ‘trusted globalization’ as a cornerstone of the new era of international trade. ‘Only partnerships built on trust can thrive in a multipolar world,’ he asserted. Maharashtra’s strategic importance is undeniable: it contributes 14-15% to India’s GDP, leads in foreign investments, accounts for 20% of the nation’s industrial output, and handles over 60% of container traffic through its western ports.
The Chief Minister redefined economic sovereignty not merely as self-reliance but as a balanced mix of diversified trade, production capabilities, energy security, technological prowess, strategic autonomy, and collaborative partnerships. Maharashtra is fully embracing this multifaceted approach.
Looking ahead, Fadnavis envisioned a future global order centered on economic corridors, with Maharashtra at the forefront. ‘Mumbai will lead in transparency, regulation, and inclusivity,’ he said. This city, with its rich legacy in maritime trade, entrepreneurship, and global connectivity, is set to build a stable, inclusive, and strategically robust economic system. In a multipolar world, challenges are opportunities, and Maharashtra is ready to shape them.
Power in the future, according to Fadnavis, will hinge on the synergy of artificial intelligence, data management, semiconductor supply chains, and skilled human resources. Maharashtra is investing heavily in AI parks, data center clusters, and skill universities to stay ahead.
Climate change has evolved from an environmental concern to a geopolitical challenge. The state is pouring resources into green hydrogen, solar and wind energy, green mobility, and sustainable urban infrastructure.
As India’s financial capital, Mumbai’s connectivity—from roadways to the Suez Canal, Atlantic trade routes to Pacific supply chains—defines its strength. Strategically located in the western maritime zone, Maharashtra boasts the Jawaharlal Nehru Port Authority, the upcoming Navi Mumbai International Airport, and the proposed Vadhavan Port. Mumbai is advancing to become the western anchor of the India-Middle East-Europe Economic Corridor.
Fadnavis underscored Mumbai’s growing trade ties with Africa, the Gulf, and Asia, strengthening partnerships that promise mutual prosperity.