&w=3840&q=100)
Bullet train to be operational by 2028: Maharashtra CM Devendra Fadnavis
Without naming Shiv Sena's Uddhav Thackeray, Fadnavis said the bullet train project suffered during a two-year rule until 2022, but now the work is in full swing. "By 2028, we will be able to travel in the bullet train," Fadnavis said, conceding that neighbouring state Gujarat is ahead of Maharashtra in project development.
The minister said creating infrastructure is very important to achieve the goal of a $1 trillion GSDP, and that $30 billion was invested in infrastructure creation during his first stint as the chief minister between 2014-19, and more money is being put into important projects now.
Fadnavis also said the state is looking to raise $50 billion from international financiers for infrastructure development in the state, and announcements for the same will be made in four months.
Speaking at an event on the India-Middle East Europe Economic Corridor (IMEEC) project organised by VRF here, he said the Vadhavan port will be operational in the next 3-4 years.
Jawaharlal Nehru Port Authority (JNPA) holds 74 per cent equity in the project, while the rest is held by the Maharashtra Maritime Board (MMB). The port project worth over Rs 76,220 crore is being executed through the Vadhvan Port Private Limited (VPPL).
He said the port, being built on reclaimed land, will help reduce the cost of logistics, pointing out that the turnaround time at JNPA, India's largest container port located nearby, is higher.
The Vadhavan port will also have an adjoining airport which will be built through land reclamation on the sea, Fadnavis said, adding that many major cities in the world have such airports.
Vadhavan will also have a halt for the bullet train, Fadnavis said.
The chief minister said Maharashtra is building an access-controlled highway from Nashik to Vadhavan port which will ensure that 17 districts of the state get connected with the modern port.
Moreover, the chief minister also stated that the government will build a new airport in Pune district, a new terminal at Shirdi airport, and a brownfield airport in Nagpur.
The state is building the Shaktipeeth highway to connect Nagpur with Goa, Fadnavis said, adding that this road project passing through the backward regions will also help boost economic growth.
He said Mumbai and Maharashtra will play an important role in the IMEEC, and assured that the state will create the facilitating ecosystem for the project to be a success.
Speaking on Tesla's entry into India, Fadnavis stated that the state government would always try to welcome Tesla, but only Elon Musk can talk about it. Recently, Tesla leased a showroom space in Mumbai's Bandra Kurla Complex (BKC).
Additionally, the minister stated that Mumbai missed out on the IT revolution amid scarcity of land and high rentals. However, he went on to emphasise the increased data centre activity in the region.
Speaking on peer comparison with Andhra Pradesh and its land-related incentives for industrial development, Fadnavis said, 'No, I am not worried (about the competition). Because Andhra Pradesh can have anything, but they cannot have Mumbai and Pune. Ultimately, you need to have Mumbai. Mumbai is Mumbai. You cannot compete with Mumbai.'
He stated that the government aims to build the Third Mumbai near Navi Mumbai and the Navi Mumbai International Airport, which itself will have an education hub, trade hub, technology hub, agriculture hub, etc., and the Fourth Mumbai around Vadhavan port and Vadhavan airport.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
19 minutes ago
- Economic Times
Lloyds Metals to invest Rs 40,000 crore more in Gadchiroli
Synopsis Lloyds Metals and Steel plans to invest over Rs 40,000 crore in Gadchiroli, Vidarbha, over the next five years, according to MD B Prabhakaran. The investment includes a steel plant and other units, with Rs 5,000 crore already invested. The company aims to build a beneficiation plant and a steel plant, generating 30,000 jobs.
The Hindu
19 minutes ago
- The Hindu
Ahead of PM's visit, India highlights presence of Khalistani activists in the U.K.
Bilateral trade is a major agenda item as Prime Minister Narendra Modi heads to the United Kingdom on Wednesday (July 23, 2025), but the India-U.K. talks will also feature discussions on pro-Khalistan elements in the U.K., and India's policy on bringing U.K.-based fugitives to justice. The presence of Khalistani activists in the U.K. and elsewhere undermines 'social cohesion', Foreign Secretary Vikram Misri said in a briefing on the PM's visit on Tuesday. The visit is also likely to lead to the unveiling of the India-U.K. Free Trade Agreement that Mr. Modi and British Prime Minister Keir Starmer had announced on May 6. Last minute work on FTA 'We are working on legal scrubbing and other last minute work that needs to be done... The U.K. is the sixth-largest investor in India, with cumulative investment of $36 billion. Interestingly, India is also a major investor in the U.K., with nearly $20 billion in cumulative FDI,' Mr. Misri said, indicating that last-minute discussions are taking place regarding the FTA. According to diplomatic sources, the FTA is expected to result in tangible benefits for both countries in sectors such as advanced machinery, cars, and spirits, mainly Scotch whiskey. According to the U.K. government, the FTA has the potential to increase bilateral trade by nearly 39%, or an amount of 25.5 billion pounds, equivalent to ₹34.4 billion. Khalistani security concerns While boosting India-U.K. commerce, the talks will also take up the presence of the Khalistan elements who have repeatedly targeted the Indian High Commissioner in London in the recent past, and campaigned for a free Khalistan. This is also among the security concerns being taken into consideration during the Prime Minister's visit, resulting in several details, including meeting venues, being kept under wraps. In March, while on a visit to the U.K., External Affairs Minister S. Jaishankar was accosted by a protester who attempted to tear up the Indian flag. The Ministry of External Affairs strongly condemned the incident and asked the U.K. government to 'fully live upto its diplomatic obligations'. The Prime Minister's visit will also provide India with an opportunity to discuss the presence of fugitives like Vijay Mallya and Nirav Modi on British soil. Mr. Misri said that India is confident of bringing these wanted individuals to justice, pointing to previous successful extraditions. 'We have been in touch with each other. We will try to explain them that how others like Tahawwur Rana has been extradited… We can do it,' Mr. Misri said. Likely to discuss sanctions Mr. Modi and Mr. Starmer are expected to discuss international developments, including the U.K.'s support to Ukraine and sanctions against Russia. Significantly, while the European Union announced specific sanctions on July 18 against the Nayara energy refinery in Gujarat, which is a joint venture with Russian energy giant Rosneft, the United Kingdom did not include the Indian refinery in its sanctions announced on July 21. Mr. Modi will have an audience with King Charles III.
Indian Express
19 minutes ago
- Indian Express
UP Cabinet clears 1% stamp duty cut for women, plan for Chitrakoot Link e-way
THE STATE Cabinet on Tuesday approved a proposal to provide a 1 per cent rebate in stamp duty on purchase of properties worth up to Rs 1 crore in the name of women. A plan for the Chitrakoot Link Expressway project also got the green signal during the meeting. Cabinet Minister Anil Rajbhar told mediapersons later that the decision regarding the rebate in stamp duty was made from the 'point of view of women empowerment.' Rajbhar said that so far, this exemption was applicable only on property up to Rs 10 lakh in the state, in which a maximum discount of Rs 10,000 was available. Rajbhar said the move would benefit women from middle-class families in particular. The Cabinet also cleared a proposal for the start of the Monsoon session of the Assembly from August 11. The previous (budget) session of the UP Assembly had taken place from February 18 to March 5. In another significant decision, the Cabinet cleared a proposal for the construction of a four-lane, 15-km Chitrakoot Link Expressway. Industries Minister Nand Gopal Gupta 'Nandi' informed that the project would be completed using the Engineering-Procurement Construction method at an estimated cost of Rs 939.67 crore. He said the 15.172 km expressway would start from Bhartikup and go up to Ahmedganj village. It would connect with the Varanasi-Banda National Highway (NH-35/76) and establish connectivity with National Highway 135 BG, said Nandi. He said the project was aimed at promoting tourism in Chitrakoot as devotees and tourists coming from far-flung areas would also get 'smooth and fast traffic facility to the district.' The construction work will be completed in 548 days and after this maintenance work will be done for five years. There would be no financial participation of the Centre in this project, said Nandi. The Cabinet also cleared a plan to upgrade 121 polytechnic institutes across Uttar Pradesh with the help of Tata Technology Limited (TTL). Cabinet Minister Ashish Patel informed that in collaboration with TTL, these institutes would get a fillip through 'Tata Technology Excellence Centre.' He said the estimated cost of the project would be Rs 6,935 crore, of which Rs 6,034.20 crore would be borne by TTL, while Rs 1,063.96 crore would be spent by the state government. The state government will spend an additional Rs 858 crore for infrastructure development and establishment of basic facilities. He said that in the first phase, 45 polytechnic institutes would get an upgrade as a pilot project.
