The MMR comprises of Mumbai, Thane, Palghar, and Raigad districts

PTI mumbai

The Mumbai metropolitan region is poised to emerge as one of the world's leading urban economies by 2047, with its gross domestic product (GDP) projected at USD 1.2-1.5  trillion and population expected to reach 3.6 to 3.8 crore, officials of the Mumbai Metropolitan Region Development Authority (MMRDA) said. The MMR, comprising Mumbai, Thane, Palghar, and Raigad districts, spans 6,328 square kilometres and is set for major economic and infrastructural transformation through a long-term plan focusing on sustainable and inclusive urban growth, they said.

Chief Town and Country Planning Officer, MMRDA, Shankar Deshpande, outlined the vision positioning MMR alongside global economic hubs such as Tokyo, London, and Singapore, with per capita income expected to exceed Rs 33 lakh annually - equivalent to current levels in Japan and Italy. "Going forward, by 2047, MMR could be transformed into one of the world's foremost economies with a 36-38 million population (3.6 to 3.8 crore), GDP of around 1.2-1.5  trillion US dollars (Rs 124 lakh crore to Rs 155 lakh crore) - equivalent to Tokyo's GDP in 2023 and more than USD 38,000 (`33,45,887 per annum) per capita income - equivalent to Japan and Italy today," Deshpande said. 

He said in the next five years, MMR aims to achieve a GDP of about Rs 25 lakh crore, growing at a real compound annual rate of 10%, with per capita income rising to Rs 8-Rs 10 lakh by 2030.