With a vision to harness Maharashtra’s rich history and robust sectors in agriculture, industry, and finance, Prime Minister Narendra Modi announced plans to transform Mumbai into the world’s fintech capital.
During a ceremony where he laid the foundation stone for projects worth over Rs 29,400 crore, PM Modi subtly criticized opposition parties for their comments on unemployment, citing a recent RBI report that states approximately eight crore new jobs have been generated in the past three to four years.
He emphasized the significance of skill development and employment creation, noting, “Skill development and employment in large numbers are India’s needs of the hour. Our government is continuously working in this direction.”
Highlighting Maharashtra’s strengths, PM Modi stated, “Maharashtra has a glorious history, a strong present, and dreams of a prosperous future. Maharashtra has the power of agriculture, industry and finance. My goal is to use this power to make Maharashtra the biggest economic powerhouse in the world and make Mumbai the fintech capital of the world.”
The Prime Minister unveiled multiple infrastructure projects in the state, including developments in road, railways, and ports. He spoke about a significant skill development initiative aimed at boosting employment opportunities for Maharashtra’s youth. The recently approved Vadhavan port project, worth Rs 76,000 crore, is expected to create over 10 lakh jobs.
Reflecting on the positive investor sentiment in Mumbai over the past month, PM Modi noted the enthusiastic response to the BJP-led NDA government’s third term, asserting that a stable government will work with triple speed. He reiterated his resolve for a “Viksit Bharat” in the next 25 years, emphasizing Mumbai and Maharashtra’s pivotal roles in this journey.
Discussing ongoing infrastructure improvements, PM Modi mentioned the completion of the coastal road and Atal Setu, which are significantly enhancing connectivity and saving fuel costs. The rapid expansion of Mumbai’s metro system, now stretching from 8 km a decade ago to 80 km, with ongoing work on a 200 km network, was also highlighted.
“Transformation of Indian Railways benefiting Mumbai and Maharashtra in a big way,” PM Modi said, referencing the redevelopment of Chhatrapati Shivaji Terminus and Nagpur station.
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