Deshmukh projects Mumbai as financial hub

Maharashtra chief minister Vilasrao Deshmukh aggressively pitched for making Mumbai as an international financial centre at Davos.

Pointing out that the state government had undertaken projects worth $8 billion to upgrade Mumbai's infrastructure, he said the government wanted to pump in $60 billion by 2020 to provide world-class infrastructure in the city.

Deshmukh was speaking at the seminar on 'Making India an International Financial Centre' at the World Economic Forum.

The state government has taken up the Mumbai makeover project, which aims at providing world-class infrastructure to the Mumbai Metropolitan Region (MMR) spread over 4,500 sq km.

The project comprises laying of rail lines, metro rail, water transport, upgradation of the airport and also a new airport at Navi Mumbai, which would be ready in three years. Besides, several projects to improve the city's water supply and drainage system are being undertaken, he pointed out.