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Industrial Development & Economic Growth in Maharashtra

August, 2014

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.

Maharashtra Agro Industries Development Corp (MAIDC), founded in 1965, is responsible for development of agro-based units in the state.

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.
  • In February 2014, memoranda of understanding (MoUs) for 32 mega investment proposals worth US$ 3.8 billion were signed by the state government which have the potential to create 20,000 jobs in the state.
  • 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.
  • To mitigate the impact of anti-dumping, the government has imposed a 20 per cent safeguard on soda ash.

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