Mumbai: Previous governments in Maharashtra have made announcements that Mumbai would be transformed into Shanghai but the current Chief Minister Devendra Fadnavis says the city would indeed be developed into a global financial, commercial and entertainment hub — and not necessarily Shanghai.
Announcing a mega initiative called Mumbai Next: Mumbai Metropolitan Region (MMR) Transformation that would bring leaders of the corporate world and entertainment industry together to chart a new course for the city, Fadnavis said the challenges will be discussed at a summit to be held on February 6.
Fadnavis told reporters on Friday evening, “While I was in Davos, a lot of investors considered Mumbai to be the right place to be transformed into a financial hub. If we maintain a deadline to achieve infrastructural development and complete projects, we can attract many global companies to invest here and thereby generate employment.”
He said, “I have with me about 27 reports that speak about the investment potential of the region. One of the reports says there is a potential of $50 billion (Dh183 billion). Though the government is not saying this, it is an encouraging figure.”
The conclave, expected to be on the lines of Vibrant Gujarat Summit, will be held in partnership with the NGO Mumbai First where the government would come up with plans on executing and completing projects and not merely focus on discussions.
He said the summit will be attended by Reliance’s Mukesh Ambani, Tata Group chairman Cyrus Mistry, actors Amitabh Bachchan and Aamir Khan and others. Union Finance Minister Arun Jaitley and Union Minister of State for Finance Jayant Sinha. Representatives of the World Bank, European Council and foreign business heads will also be attending the summit.
The conclave will also discuss the impediments that infrastructure projects in the region were facing and possible ways of overcoming them. He also said a separate cell has been set up in his office to monitor critical infrastructure projects.
The previous Congress-NCP government already had plans on the anvil to execute several major projects like the Nhava-Sewri trans-harbour sea link, coastal road from Cuffe Parade to Marve, new metro routes as well as the much talked about Navi Mumbai International Airport.
Fadnavis said, “We created one BKC (Bandra-Kurla Complex) and it triggered off tremendous growth in the area. If we build several such places, the opportunities are immense.”
He also approved an ambitious plan to develop a plot of government land in suburban Thane — to develop 72 acres of land in Kalwa on the lines of BKC.
