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he formation of an economic advisory council (EAC) led by Tata Sons chairman N Chandrasekaran, along with 20 other industry leaders, government representatives, and economic experts, aimed to propose strategies for achieving a $1 trillion economy by 2028. In a short span of six months, the council has unveiled its recommendations, emphasizing the need to position the state as an AI hub and establish extensive manufacturing hubs to generate over 15 million job opportunities. The advisory also highlights agriculture, tourism, and energy as pivotal sectors to drive economic growth, while acknowledging the necessity of addressing regional disparities within Maharashtra's economic landscape.

Maharashtra's Path to Economic Transformation

The council's report underscores the attainability of the $1 trillion economic goal, citing Maharashtra's consistent average growth rate of 9% over the past five years. However, it recognizes the existing regional imbalances and underscores the importance of integrating all regions of the state into the primary economic cycle. Maharashtra's Deputy Chief Minister Devendra Fadnavis endorsed the report, expressing the government's commitment to implement its recommendations and transform the state's economy. He envisions a collective effort in reaching the $1 trillion milestone, even proposing the installation of a GDP value clock outside Mantralaya to engage citizens in the process.

Focusing on Sectoral Growth and Skill Development

The report encompasses various initiatives to bolster skill development, which in turn will support job creation. Tata Sons chairman N Chandrasekaran expressed confidence in Maharashtra's potential to achieve its $1 trillion economic aspiration and stressed the importance of the government's ongoing review of the report for its eventual execution. The council's sectoral approach involved dedicated teams focusing on areas like manufacturing, services, energy, sustainability, infrastructure, logistics, ease of doing business, MSME empowerment, skill development, agriculture, and allied services. The comprehensive planning process included extensive interactions with stakeholders, government officials, and experts from various fields, reflecting a detailed and grounded strategy. Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis were presented with the council's findings, with both leaders expressing their commitment to translating these recommendations into actionable policies and initiatives.