Business leaders, policymakers, and entrepreneurs gathered in Mumbai on October 28, 2026, for the News18 Rising Bharat Summit – West Edition. The event, presented by HDFC Bank, focused on the theme 'The Next Phase of Indian Enterprise' and examined the region's role in powering national industrial growth and financial markets.
During the summit, Maharashtra Chief Minister Devendra Fadnavis announced that the state’s economy has reached $660 billion, with a target to achieve a trillion-dollar status by 2030. Mr. Fadnavis highlighted the state’s performance in project delivery, noting that 60% of signed investment Memorandums of Understanding (MoUs) have been acted upon, compared to a national rate of 35-40%. He also outlined plans for 'Mumbai 3.0,' a proposed development surrounding the Atal Setu and Navi Mumbai International Airport that includes a dedicated Edu City, Medicity, and an innovation hub for artificial intelligence.
Market experts at the summit offered a positive outlook on the national economy. Ridham Desai of Morgan Stanley India stated that India’s oil-import bill remains below 4% of GDP despite crude oil prices reaching $120 a barrel. Prashant Jain of 3P Investment Managers expressed confidence in the country's economic resilience, projecting low- to mid-double-digit equity returns over the next three years. Additionally, consumer industry leaders noted a shift in spending patterns as the middle class increasingly trades up across product categories.
Separately, a different Bharat Summit is scheduled to take place in Hyderabad on November 13 and 14, 2026. This gathering is expected to host political leaders, diplomats, former ministers, and academics from nearly 70 countries. Foreign delegates are set to visit the Telangana Legislative Assembly and Council ahead of the main event. The summit will conclude with addresses from Leader of the Opposition in the Lok Sabha Rahul Gandhi and Congress president Mallikarjun Kharge.
Key facts
- Maharashtra aims to reach a trillion-dollar economy by 2030, currently sitting at $660 billion.
- Approximately 60% of investment MoUs in Maharashtra have been acted upon, according to CM Fadnavis.
- The Bharat Summit in Hyderabad will host representatives from nearly 70 countries.
- Telangana CM A. Revanth Reddy has proposed hosting a mini World Economic Forum in Hyderabad annually.
- The Invest Telangana Global Summit is scheduled for December 7–9, 2026.
Why it matters
These summits serve as platforms for state governments to showcase development initiatives and attract global investment. Telangana’s administration is using the upcoming Hyderabad event to position the city as a destination for international policy discussions and future global conferences, including a proposed mini World Economic Forum.
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