Maharashtra Minister Mangal Prabhat Lodha stated that due to rapid infrastructure development, Mumbai will become a global economic role model in 10-15 years. He highlighted projects like Atal Setu and planned expansion into Mumbai 2, 3, and 4.
Mumbai's Vision as a Global Economic Hub
Amid the rapid infrastructure development of the financial capital, Maharashtra's Minister for Skills, Employment, Entrepreneurship and Innovation, Mangal Prabhat Lodha on Friday said that Mumbai will soon become a role model of economic development for the globe to follow.
In an exclusive interview with ANI on Friday, Lodha spoke on the planned expansion of Mumbai, including Mumbai 2, Mumbai 3 and the development around Alibaug - also known as Mumbai 4. He said, "Be it the infrastructure investment in the field of irrigation, Atal Setu, Coastal Road, highways, or railway stations, the development is unbelievable in Mumbai and Maharashtra." He ensured that Mumbai would become a global economic hub and centre of learning.
Lodha said, "Mumbai is not competing with states, but it's competition is with other developed nations. Mumbai will become a role model of development on the global platform in 10-15 years."
"If you compare Maharashtra 15 years ago and now, you will see vast difference," he added. Among other things, the state minister also spoke on the policies implemented by the Maharashtra government, like 'MITRA' to facilitate communications between the government and external stakeholders.
Expert Perspective on Mumbai's Transformation
Speaking on similar lines, former vice-chairman of Maharashtra Institution for Transformation (MITRA) and MD of Ashar Group, Ajay Ashar, said that Maharashtra has shown the way to the states and the country.
"In 15 years, Mumbai has seen a very robust (infrastructure) growth. We have seen so many high-rise buildings. There has been a complete policy change which the government has done and these changes have led to a very good growth, especially after COVID," Ashar said. He added that both residential and commercial development in Mumbai has been outstanding.
Real Estate and Market Trends
"Rates in the last 10 years have been very stable, but in the last three years, the rates have started to rise as the cost of production has gone up. Also, the cost of permissions have gone up. High-end luxury market is booming at this time and the charm of Mumbai is still very much there."
Boosting Infrastructure and Connectivity
On MITRA and other schemes, Ashar said that there is a large-scale boost to the infrastructure of Mumbai. He mentioned projects like the ring road, the coastal road and others.
"The motto of the government is to reach from anywhere to anywhere in 45 minutes. In 5 years, Mumbai will be a different place," he said, adding that travelling in Mumbai will be better in the coming years. He also spoke on green corridors, like Deonar, and expressed hope that Mumbai's AQI will improve soon. (ANI)
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