Pune Metropolitan Region Growth Hub Launch: ‘New airport, ring road can boost Pune's economy by Rs 3 lakh crore', says Fadnavis
The initiative aims to double the city's economy of $58 billion over the next five years and was a joint initiative between NITI Aayog, the state Government, and Pune International Centre, representing a coordinated effort to accelerate regional development through strategic planning and policy reforms.
Fadnavis outlined an ambitious vision where Pune competes not just with other Indian cities but on the global stage, contributing to India's goal of becoming a five-trillion-dollar economy. He emphasised that the new airport and ring road in Pune are expected to generate an economic impact of Rs 3 lakh crore.
'Today, 65 per cent of GDP comes from urban surroundings. This growth can be accelerated through proper planning,' Fadnavis explained, highlighting the importance of creating an integrated ecosystem for industrial development.
Fadnavis explained that with the help of the central government, the state government's 'Educity' project in Navi Mumbai has already attracted five world-renowned universities, with plans to welcome 10 universities that will educate at least 50,000 students over the next five years. This initiative alone is expected to generate Rs 2,000 crore in GST revenue.
'These universities will bring a new revolution based on AI. Global industries will come here to take advantage of this opportunity,' Fadnavis said, emphasising Pune as a hub for artificial intelligence and advanced technologies.
Deputy Chief Minister Eknath Shinde said that Pune's success lies in its diverse strengths across technology, industry, manufacturing, education, and healthcare. Known as the 'Oxford of the East,' Pune's excellent educational institutions create a steady source of skilled professionals.
'The city's current advantages include a thriving automotive industry, a robust information technology sector, engineering research capabilities, and strong small and medium enterprises. The growth hub will build upon these foundations while identifying new expansion opportunities, Shinde added.
The 'Developing City Regions as Growth Hub' initiative was launched by the NITI Aayog in 2023. It focuses on developing urban centres through economic growth, lifestyle improvement, and sustainable practices.
Initially implemented as a pilot in Mumbai Metropolitan Region (MMR), Surat, Varanasi, and Visakhapatnam, the program has now expanded to include Pune. 'The state is planning to establish more such growth hubs in Nagpur, Chhatrapati Sambhajinagar, and Nashik,' said Rajagopal Deora, Additional Chief Secretary of the Planning Department.
The Mumbai Metropolitan Region, which started earlier, targets doubling its economy from $140 billion to $300 billion within five years, providing a successful model for Pune to follow.
'Pune needs to achieve a 10 per cent economic growth rate to realise its potential as a global city. The ultimate target is to reach a $600 billion economy, positioning Pune among the world's leading cities,' said NITI Aayog CEO B.V.R. Subrahmanyam.
'The growth hub will focus on removing bureaucratic obstacles, implementing policy reforms, and creating necessary infrastructure. A comprehensive plan will be prepared over the next 4-5 months, involving local institutions, industries, and organisations in the planning process,' added Subrahmanyam.
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