Maharashtra is situated in the western region of the country. It is the 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 2015-16, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 11.3 per cent to US$ 300.51 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 11.1 per cent to 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. 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. According to the DIPP, cumulative FDI inflows in the state of Maharashtra during April 2000 to September 2017 stood at US$ 112.27 billion.
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. Sugar production is expected to reach 7.34 million tonnes in 2017-18. 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: