Maharashtra

  • Maharashtra has a well-developed social, physical and industrial infrastructure, along with three international and five domestic airports, the state has two major and 53 minor ports. Maharashtra accounts for approximately 38.0 per cent of the country's automobile output by value. The Government of Maharashtra has several policies in place to set up the right kind of business climate in the state. These policies aim to motivate investors to invest into various sectors in the state, thereby contributing to the overall development of the economy.
  • Maharashtra Industrial Development Corp (MIDC) is primarily responsible for the development of industrial infrastructure in the state.
Capital | Population Mumbai | 114.2 million
State GDP & Growth Rate - GDP State GDP is around US$ 228.77billion and the growth rate is approx. 14.43%.
Per capita income The per capita income ranges from US $ 1800 to 1810.
Political Scenario The Government of West Bengal is the regional ruling authority of the state. Bharatiya Janata Party (BJP) is the ruling party since 2014.
Key Sectors / Industries Pharmaceuticals, biotechnology, IT and ITeS, electronics, engineering, auto and auto components, petrochemicals, oil and gas and textiles.
Emerging markets / opportunities
  • - Agriculture and Horticulture
  • - Food Processing
  • - Floriculture
  • - Information Technology (IT)
  • Biotechnology
Business Scenario /Government Initiatives
  • The Government of Maharashtra is promoting the development of several special economic zones (SEZs) across Maharashtra for sectors such as IT/ITeS, pharmaceuticals, biotechnology, textile, automotive & auto-components, gems & jewellery and food processing. Memoranda of understanding (MoUs) for 32 mega investment proposals worth US$ 3.8 billion were signed by the state government which has the potential to create 20,000 jobs in the state. The Maharashtra government has set up an international biotech park, 10 km from Pune. This is the first public-private biotechnology park initiative in the state. Textile parks, aimed to provide world-class infrastructural components for the textile sector and enhance productive capacity, are being set up in Maharashtra to maintain its leadership position in textile exports and production. To mitigate the impact of anti-dumping, the government has imposed a 20 per cent safeguard on soda ash.
  • Maharashtra is more advanced than most states in India and contributes in a large extent to the country’s industrial output. It boasts of cities, such as Mumbai, Pune, and Nagpur, which play a huge role in strengthening the Indian economy.
  • In fact, Mumbai, the capital of Maharashtra, is the main financial hub of India. Most banks, financial institutions, and insurance institutions have headquarters in Mumbai. Bombay Stock Exchange is considered to be the oldest in Asia and the largest in the country.
  • Maharashtra is more advanced in comparison to other states in terms of infrastructure.
  • Major Industries in Maharashtra:
    • Infrastructure: To keep pace with the growth rate at which Maharashtra is growing, infrastructure needs are going to arise and need to be met. This offers tremendous potential.
    • Software and Services: Maharashtra has seen huge growth in the IT sector. Cities, such as Pune, Mumbai, Nagpur, and Nashik, have developed software parks and add at least 20% to the country’s software exports. This is yet another ever growing sector and offers many perks.
    • Power and Telecommunications: Maharashtra leads in the thermal and nuclear generation of power, and this offers tremendous scope. Its telecommunication capabilities are also one of the fast growing areas in the state.
    • Shipping Industry: Another industry prevalent for a long time in Maharashtra is the shipping industry. It serves as a ship manufacturing centre and has many companies operating shipyards. The state has two major ports, Mumbai Port and Nhava Sheva Port, which offer tremendous potential and growth.
    • Education Industry: Education is also a major area for growth. The need for primary and higher education is growing, and this offers good prospects.
    • Health Industry: This is yet another arena that is growing in demand. People are looking for better amenities and services in this industry.
    • Agriculture: Agriculture is also one of the major industries in Maharashtra. About 64% of population is engaged in agriculture. With newer irrigation facilities and hybrid varieties of seeds this field has great prospects.
  • Thus, Maharashtra on the whole is a fascinating state and offers great potential for the future.
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