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Information About Maharashtra: Industries, Exports, Economy & Infrastructure Growth

October, 2017

Maharashtra is situated in the western region of the country. The state shares borders with Gujarat, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Goa and the Union Territory of Dadra and Nagar Haveli.

Maharashtra’s gross state domestic product (GSDP) accounted for 12.98 per cent of India’s gross domestic product (GDP) in 2015-16, the highest among all states. The GSDP grew at a CAGR of around 11.3 per cent between 2004-05 and 2015-16 to reach US$ 300.51 billion. The net state domestic product (NSDP) grew at a CAGR of around 11.1 per cent between 2004-05 and 2015-16 to reach US$ 263.6 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. Maharashtra has emerged as a key hub for IT and ITeS, electronics and captive business outsourcing industries.

In 2015-16, Maharashtra was one of the leading producers of sugarcane and cotton in the country. The state produced 72.1 million tonnes (MT) of sugarcane and 4.2 million bales of cotton.

Maharashtra accounts for approximately 35.1 per cent of the country's automobile output by value. The state has a well-developed social, physical and industrial infrastructure. Apart from four international and seven domestic airports, the state has two major and 53 minor ports. It also has a well-developed power supply grid. Maharashtra's infrastructure sector has grown significantly over the last decade, with a substantial rise in the number of industrial clusters and public-private partnership (PPP) projects.

According to the DIPP, cumulative FDI inflows in the state of Maharashtra during April 2000 to March 2016 stood at US$ 82.62 billion.

Key sectors:

  • Aggregate deposits and credit of scheduled commercial banks in Maharashtra stood at US$ 49.6 billion and US$ 31.3 billion respectively, in January-March 2016.
  • From August 1991 to October 2015, a total of 854 projects with an investment of US$ 2,448.5 million have been approved for the pharmaceutical industry in the state.
  • During 2016, Government of Maharashtra came up with a new policy - “Electronics Policy 2016”, which aims at achieving a turnover of US$ 12 billion for the ESDM industry and is assisting in targeted expansion of ESDM sector to cross US$ 2 billion, through 2020.
  • Maharashtra is the largest cotton producer in India with largest area under cultivation for cotton, that is, 3,827 thousand hectares during 2015-16. As per budget 2016-17, the state government is aiming at setting up new textile units across the state’s cotton growing areas.
  • Under the State Budget 2016-17 the government has planned an investment of US$ 119.77 million for electricity generation projects. An outlay of UD$ 69.66 million has been set for adding capacity under nonconventional energy sources.
  • Maharashtra accounts for approximately 35.1 per cent of the country’s output of automobiles by value.
  • In 2016, the Government of Maharashtra formulated a new policy on Tourism- ‘Maharashtra Tourism Policy 2016,’ which aims at minimizing delays as well as replication of redundancies & information and enhancing the application process efficiency. An amount of US$ 43.53 million was allocated by the government to boost basic amenities being provided across tourist spots.