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The Mumbai Metropolitan Region is projected to become a leading global urban economy by 2047, with GDP estimated at USD 1.2-1.5 trillion and population reaching 3.6-3.8 crore. The masterplan prioritizes sustainable and inclusive growth through infrastructure, job creation, and economic diversification. Key projects include metro expansion, ports, highways, financial districts, and urban redevelopment. Employment, especially for youth and women, is expected to rise significantly. Private investments, environmental initiatives, and sectoral reforms are central to achieving targets, positioning MMR alongside global hubs like Tokyo, London, and Singapore.
The Mumbai Metropolitan Region (MMR) is projected to become one of the world's leading urban economies by 2047, with its GDP expected to reach USD 1.2-1.5 trillion and the population rising to between 3.6 and 3.8 crore, according to officials from the Mumbai Metropolitan Region Development Authority (MMRDA). The region, covering Mumbai, Thane, Palghar, and Raigad districts over 6,328 square kilometres, is planned for extensive economic and infrastructure development through a long-term strategy focused on sustainable and inclusive growth. Advertisement
Shankar Deshpande, Chief Town and Country Planning Officer at MMRDA, highlighted that this vision positions MMR alongside global economic hubs such as Tokyo, London, and Singapore. He indicated that per capita income in the region is expected to exceed INR 33 lakh annually, similar to the current levels in Japan and Italy. Deshpande noted that in the next five years, the MMR economy aims to reach a GDP of around INR 25 lakh crore, growing at a real compound annual rate of 10 per cent, with per capita income rising to INR 8-10 lakh by 2030. The population is expected to grow from 2.58 crore in 2023 to around 2.9 crore by 2030, and the overall economy could grow nearly five-fold by 2047, driven by infrastructure expansion, job creation, and economic diversification.
The masterplan suggests that Greater Mumbai's population will stabilise at approximately 1.37 crore by 2047, continuing to account for 55 per cent of the region's GDP due to high productivity levels. Other areas of MMR are expected to see faster population growth, with their share rising from 50 per cent in 2023 to 64 per cent in 2047, while GDP contribution may increase from 40 to 45 per cent, supported by new business districts, logistics hubs, and townships.
Deshpande emphasized that about 35 lakh young people will join the workforce by 2030, with women making up half of this number, requiring around 15 lakh new jobs. Half of these positions are anticipated in high-productivity sectors such as IT, artificial intelligence, finance, media, and chip manufacturing. Employment across MMR is expected to rise from 1 crore in 2023 to 1.3 crore by 2030 and reach 2 crore by 2047.
To support growth, the metro network is planned to expand to 450 km by 2030, while per capita open space is set to increase from 1 square metre in Mumbai to 5-7 square metres across the region. Sustainability measures include achieving 90 per cent electrified public transport, 70 per cent renewable energy usage, and recycling 30-40 per cent of water by 2030. Women's participation in the workforce is targeted to reach 38-40 per cent.
Ongoing and planned infrastructure projects worth over INR 4 lakh crore will underpin this transformation. These include 337 km of metro rail (INR 1.36 lakh crore), Navi Mumbai International Airport (INR 20,000 crore), Versova-Virar Sea Link (INR 63,500 crore), Vadhavan Port (INR 43,600 crore), and the 126 km Alibag-Virar Multi-Modal Corridor (INR 55,000 crore). Other key initiatives include Mumbai-Ahmedabad High-Speed Rail, Samruddhi Corridor, Mumbai Coastal Road, Mumbai Trans Harbour Link, and Versova-Bandra Sea Link.
The masterplan also identifies 30 projects, eight sectoral policies, and nine institutional reforms to translate the vision into action. Key projects include new financial districts at Bandra-Kurla Complex and Wadala, Navi Mumbai Aerocity, tourism hubs at Mumbai Port, a Film City, slum redevelopment, affordable housing zones, and the creation of five industrial cities. Urban sustainability is a core focus, targeting net-zero emissions by 2047 and creating an estimated economic impact of INR 20,000 crore, generating 50,000 jobs. Broader urban infrastructure improvements are expected to contribute INR 37,000 crore in value and nearly 3 lakh jobs.
Significant private investment of approximately INR 11 lakh crore, about 70 per cent of total funding, will be critical for implementing the plan, while Maharashtra's development agencies are expected to double their investments through land monetisation. An integrated MMR-level war room will coordinate execution, supported by a Growth Hub Steering Committee chaired by the Chief Secretary.
The long-term vision aligns MMR's expansion with developments at Vadhavan Port in the north and Dighi Port in the south, aiming to create a global innovation and investment hub combining energy, strength, and peace to drive Maharashtra's growth to 2047. The MMRDA, established for regional planning and coordination, first sanctioned a regional plan in 1973, followed by a revised plan for 1996-2011, which laid the foundation for the current masterplan.
Source PTI
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