Mumbai: Chief Minister Devendra Fadnavis on Friday stated that Artificial Intelligence (AI) would transform business, governance, and daily life, with Maharashtra aiming to lead this shift through its recently unveiled AI policy. He outlined an ambitious roadmap to attract over Rs 10,000 crore in investments and generate more than 1.5 lakh jobs by 2031. The plans include establishing six AI Centres of Excellence, five AI Innovation Cities, a Rs 500-crore AI Startup Fund, 12 AI incubators, and a shared compute infrastructure of 2,000 GPUs. Fadnavis was speaking at the two-day technology and innovation festival.
Economic Growth and Vision
The Chief Minister highlighted that Maharashtra's economy has grown from Rs 14 lakh crore in 2015 to nearly Rs 54 lakh crore today, contributing over 31% of India's FDI inflows. The state aims to become a $1 trillion economy by 2030.
Union Minister's Address
Union Minister of State for Science and Technology Jitendra Singh, delivering the inaugural keynote, said India is entering a transformative decade driven by AI, quantum computing, biotechnology, space, and nuclear energy. He noted the growth of India's space sector after private participation, with the space economy projected to expand from nearly $9 billion to $40–45 billion over the next decade. Singh added that India's space startup ecosystem has grown from single-digit numbers to over 400 startups in five years, while defence production crossed Rs 1.5 lakh crore in 2025 and defence exports exceeded Rs 23,000 crore. He also mentioned a proposed Rs 1 lakh crore Research, Development and Innovation Fund to support next-generation technologies and deep-tech ventures.
ImagiNxt 2026 Festival
Hosted by Maharashtra Tourism, ImagiNxt 2026 has brought together founders, policymakers, investors, enterprise leaders, and academia to discuss AI, DeepTech, SpaceTech, and digital infrastructure. Organisers said the event is expected to host over 10,000 attendees, with participation from more than 150 speakers, 250 startups, and 100 investors.
CEO's Remarks
Founder and Chief Executive Officer Deepak Lamba said the opening day reflected the scale of ambition building across India's innovation ecosystem and aimed to foster collaboration between startups, investors, and policymakers shaping the country's next phase of technology-led growth.
