The NITI Aayog masterplan which aims to transform the Mumbai Metropolitan Region (MMR) into a global economic hub and double its GDP from Rs 12 trillion to Rs 26 trillion by 2030 was launched in the presence of World Economic Forum (WEF) founder Klaus Schwab, chief minister Eknath Shinde and deputy chief minister Devendra Fadnavis. Schwab also signed a memorandum of collaboration between MMRDA and the WEF. Speaking on the occasion, Fadnavis said 60% of the initiatives mentioned in the report had already been started or were in the process of being started by the state and another 40% were in the conceptual phase. The NITI Aayog report had been presented to the state govt in August. The Atal Setu project will speed up the development of the hinterland and create a third Mumbai. It will become the tech-hub of the region and 65% data centres will be located there, he said. He also said the BPT (Bombay Port Trust) area will be developed as the fifth Mumbai. The Vadhavan port project will be one of the major drivers of the Indian economy for the next 30 years and the Dighi industrial area will put MMR on the global logistics map, said Fadnavis. He also said the city's second airport would be operational by the end of the year and a third airport had been planned near Vadhavan. Shinde said the govt had set up a committee of secretaries to ensure that the suggestions in the NITI Aayog report were implemented. Mumbai is our country's life and our lifeline, said Shinde. The report said the Maharashtra government needed to focus on seven aspects including establishing Mumbai as a global services hub, promoting affordable housing, transforming the MMR region into a global tourism centre and integrating the development of ports in the MMR area, to creating an industrial and logistics hub. Also, the development of well-planned cities, ensuring inclusivity and sustainability and creating world class urban infrastructure. The study targets development of Mumbai city and suburbs, Palghar, Raigad and Thane which account for a third of Maharashtra's GDP. To achieve this, the focus will be on key development areas including attracting Rs 10-11 trillion in private sector investment and transforming cities into growth engines, the report says.