Trade Analytics

Industrial Development & Economic Growth in Maharashtra

Latest update: October, 2016

Economic Snapshot: GSDP of Maharashtra

Maharashtra's gross state domestic product (GSDP) was US$ 264.80 billion over 2014-15.

Economic Snapshot: GSDP of Maharashtra

Economic Snapshot: NSDP of Maharashtra

Maharashtra's net state domestic product (NSDP) was US$ 238 billion over 2014-15.

Break up of outstanding investments in Maharashtra

 

October, 2016

Maharashtra is situated in the western region of the country. It is most industrialised state in India and has maintained its leading position in the industrial sector in the country. The state is a pioneer in small scale industries and boasts of the largest number of special export promotion zones. Maharashtra has a large base of skilled and industrial labour, making it an ideal destination for knowledge based and manufacturing sectors.

Between 2004-05 and 2014-15, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 12.98 per cent to US$ 264.8 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 11.2 per cent to US$ 237.8 billion.

The state’s capital, Mumbai, is the commercial capital of India and has evolved into a global financial hub. The city is home to several global banking and financial service firms. Pune, another major city in the state, has emerged as the educational hub. It is the one of the largest producer of sugarcane, pomegranates and cotton in the country.

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. Total Foreign Direct Investment (FDI) in the state stood at US$ 73.12 billion from April 2000 to March 2015, the highest among all states in India.

Maharashtra is the largest producer of sugar and is the most industrialised state in India and has maintained the leading position in the industrial sector in the country. The state is a pioneer in small scale industries and boasts of the largest number of special export promotion zones.

The following are some of the major initiatives taken by the government to promote Maharashtra as an investment destination:

  • 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. As of 2014-15, the state has 9 operational SEZs, out of which majority are contributed by engineering and electronics segment.
  • The Government is focusing on providing IT-related infrastructure, fiscal incentives to IT units and an institutional framework for the IT sector.
  • The Government is setting up the Delhi-Mumbai Industrial Corridor (DMIC), a mega infrastructure project of total cost US$ 90 billion, with the help of the Government of Japan, which has agreed to lend US$ 4.5 billion for this project. Seven nodes are in the development stage for the Phase-1 of the project, which is expected to greatly boost India’s manufacturing sector.
  • The Maharashtra state government aims at giving a boost to the pharmaceutical sector in the state and improve research activities with development of skilled man power, for which the government plans to establish National Institute of Pharmacy Education and Research at Nagpur during 2015-16.
  • The Maharashtra government has set up an international biotech park in Hinjewadi, 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.
  • The state government announced plans to invest US$ 1,658.2 million for the development of railways infrastructure.
  • As a part of the ‘Make in India’ initiative, the state government in planning to come up with an electronics policy for companies interested to invest in this sector in Maharashtra.
Maharashtra State Presentation

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Maharashtra Map

Maharashtra