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Bombay Chamber Hosts Infrastructure Conclave 2025: ‘Uddishta – Pathway to a $1 Trillion Sustainable Maharashtra’

  Industry leaders and policymakers outline strategies for sustainable, inclusive growth

Mumbai, August 8, 2025: The Bombay Chamber of Commerce & Industry hosted its flagship Infrastructure Conclave, “Uddishta  Pathway to a $1 Trillion Sustainable Maharashtra”, convening a distinguished line-up of leaders from business, policy, and academia to discuss the state’s roadmap to a $1 trillion economy.

Delivering the welcome address, Sudhanshu Vats, Sr. Vice President, Bombay Chamber, set the tone by underlining the Chamber’s commitment to fostering dialogue between industry leaders, policymakers, and stakeholders. “Maharashtra has always been a frontrunner in India’s growth story,” he remarked, “and it is through platforms like this that we can align visions and actions for sustained progress.”

The opening session, “Powerhouses Behind Maharashtra’s Growth”, was moderated by Dr. Ajit Ranade, Senior Fellow at the Pune International Centre, Economist, and member of the Maharashtra Economic Advisory Council. Dr. Ranade stressed that “Mumbai carries the economic burden of the entire state, and skilling and education will be key to inclusive, sustainable and fast economic growth.”

Dhiraj Relli, Managing Director & Chief Executive Officer, HDFC Securities Ltd., observed that “part ownership is now viable, and alternative asset classes are becoming increasingly attractive for investors with instincts for capital appreciation and safety.” He underscored that the $1 trillion target is not a question of if but when, adding, “Implementation is key—we need to unleash the animal spirit through innovation across all sectors.”

From the tourism and hospitality perspective, Puneet Chhatwal, Managing Director & Chief Executive Officer, The Indian Hotels Company Limited, called tourism “one of the brightest opportunities India has been sitting on for a very long time.” He advocated for mission-mode development of destinations such as Sindhudurg as an alternative to Goa and stressed the need to target both business and leisure travellers. “International tourists are as important as domestic,” he said.

Real estate veteran Dr. Niranjan Hiranandani, Managing Director, Hiranandani Group, said that the One trillion goal will happen, while highlighting the need to redevelop all of Mumbai’s slums into affordable housing, address a shortage of two million skilled workers in the sector, and grant infrastructure status to real estate. “We must address small problems like last-mile connectivity when we talk about the big picture,” he added.

Ashish Pherwani, Partner – Media & Entertainment, EY India, pointed out that “India hosts just 1,000 events a year, but we should be doing 1,000 a month,” emphasising the growth potential of the events and entertainment ecosystem.
Avinash Joshi, Chief Executive Officer – India, NTT DATA, called for a shift in perspective, stating, “IT must lead business, not just enable it.”

The second session, “Driving MMR’s Growth Through Strategic Infrastructure Development”, was moderated by Sachin Kalbag, Editor-in-Chief, Mid-Day. Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority (MMRDA), outlined MMRDA’s partnership with NITI Aayog, identifying eight policy shifts and seven growth drivers, and securing $40 billion in FDI commitments at Davos. “The key to success is making it simple—breaking down big plans into small, actionable steps. The path towards the trillion-dollar economy has already begun,” he said.

Shri. Rajiv Jalota, Retd. IAS, Former Chairperson, Mumbai Port Authority (MbPA), urged rapid utilisation of Maharashtra’s 300 km coastline and busy inland waterways. He proposed the development of multiple coastal hubs for tourism, logistics, and sector-specific industries such as textiles and automobiles, along with a dedicated state cell for cruise tourism.

Dr. Shirish Sankhe, Director and Founding Partner, ISEG Foundation, stressed that for India to get into the growth trajectory, the GDP growth will have to be raised from 6% to 9–10%, would require “doing things differently.” He also advocated for circular economy models, a climate action plan, and increasing green cover.

Shrinath Rao, Co-Chairman, Power and Infrastructure Committee, Bombay Chamber; Senior Vice President and Head – Special Assignments, L&T Transportation Infrastructure Business, Larsen & Toubro Limited, identified challenges such as lengthy approvals, land acquisition, and utility relocation. He recommended “a single-window clearance system and all due clearances before launch,” along with strong accountability and timely financing to ensure quality, sustainable project delivery.

Prabhat Mahapatra, Chief Operating Officer, Navi Mumbai International Airport, said the new facility would become “the region’s growth engine,” with a projected capacity of 90 million passengers—up from the original plan for 60 million. “Earlier, Mumbai’s limited capacity cost us the No. 1 spot to Delhi. Navi Mumbai will help us reclaim it,” he said.

Amit Kekare, Chairman of the Power and Infrastructure Committee at the Bombay Chamber and Vice President – Head of eMobility at Siemens, concluded the session by highlighting how Maharashtra’s key growth drivers contribute to this milestone, with particular emphasis on strategic infrastructure development, robust financial regulation, and the effective implementation of government initiatives.