📷 Image: Wikimedia Commons / Sushant savla
Business
Maharashtra Minister Mangal Lodha Unveils $1 Trillion Economy Roadmap at Banking Summit
✍️ Fortune India
🗓 28 Oct 2026, 07:38 AM
👁 13
At the Fortune India Banking & NBFCs Summit 2026, Maharashtra minister Mangal Prabhat Lodha presented a roadmap aimed at expanding the state’s economy to a $1 trillion valuation.
Maharashtra’s minister for finance and industry, Mangal Prabhat Lodha, used the platform of the Fortune India Banking & NBFCs Summit 2026 to outline a comprehensive plan to push the state’s gross domestic product to the $1‑trillion mark. The announcement was made during a plenary session attended by senior bankers, NBFC executives and policy makers.
Lodha emphasized that the roadmap hinges on deepening financial inclusion, attracting long‑term capital into infrastructure projects, and leveraging the state’s strong manufacturing and services base. He highlighted the need for coordinated reforms in credit delivery, digital payments and regulatory frameworks to enable both banks and non‑bank lenders to play a larger role in funding growth.
The minister also called for a collaborative approach involving the private sector, state agencies and central government schemes to meet the ambitious target within the next decade. While detailed figures were not disclosed, the outline signals a strategic focus on scaling up investment, enhancing productivity and positioning Maharashtra as a global economic hub.
Industry observers noted that the summit’s timing underscores the importance of the banking and NBFC sectors in achieving the state’s growth aspirations, and they expect further policy details in the coming months.
Lodha emphasized that the roadmap hinges on deepening financial inclusion, attracting long‑term capital into infrastructure projects, and leveraging the state’s strong manufacturing and services base. He highlighted the need for coordinated reforms in credit delivery, digital payments and regulatory frameworks to enable both banks and non‑bank lenders to play a larger role in funding growth.
The minister also called for a collaborative approach involving the private sector, state agencies and central government schemes to meet the ambitious target within the next decade. While detailed figures were not disclosed, the outline signals a strategic focus on scaling up investment, enhancing productivity and positioning Maharashtra as a global economic hub.
Industry observers noted that the summit’s timing underscores the importance of the banking and NBFC sectors in achieving the state’s growth aspirations, and they expect further policy details in the coming months.