India, Aug. 15 -- Maharashtra Chief Minister Devendra Fadnavis has said Mumbai is poised for a major transformation, with plans to develop 'third' and 'fourth' Mumbai as new economic growth hubs, supported by world-class infrastructure, high-speed connectivity, and an upcoming innovation city designed to rival global centres.

He said the Mumbai Metropolitan Region (MMR) has the potential to become a $1.5 trillion economy.

"We can build a city even bigger than Dubai and even better than that in Mumbai. This is our potential. The transformation is possible within the next 10 years," Fadnavis said at a CREDAI-MCHI event marking a change of guard, where Sukhraj Nahar, chairman of Nahar Group, was appointed as the body's 18th president for 2...