Introduction
Maharashtra is situated on the west coast of India. The state shares borders with Gujarat, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Goa and the Union Territory of Dadra and Nagar Haveli.
The state government has taken numerous initiatives to upgrade the education system such as slashing school fees by 15% for the year 2021-22, planning on recruiting 3,064 professors in the state and allotting 1% education and job quota to COVID orphans.
Tourism in Maharashtra
The state is one of the leading tourist destinations in India. From the majestic forts and palaces of Pune and Nagpur to the serene beaches of Konkan, Maharashtra captivates visitors with its rich cultural heritage, picturesque landscapes, and unique culinary delights. The state government is also reviving the tourism sector post-COVID by launching various tourist spots and upgradations of the existing ones.
In 2023, India welcomed approximately 19.2 million tourists, with Maharashtra standing out as one of the states that attracted the highest number of international visitors, totalling 3,387,739 foreign tourists.
Economy in Maharashtra
At current prices, Maharashtra’s gross state domestic product was estimated at Rs. 49.39 trillion (US$ 578.31 billion) in FY26. GSDP of the state increased at a CAGR (in US$) of 10.78% from FY16 to FY26.
Mumbai, the state's capital, is the commercial capital of India and has evolved into a global financial hub. The city is home to several global banking and financial services providers. Pune, another major city in the state, has emerged as the educational hub. According to the Department for Promotion of Industry and Internal Trade (DPIIT), between October 2019-December 2024, the FDI inflow in Maharashtra stood at Rs. 6,71,863 crore (US$ 85.73 billion). Maharashtra ranked first for the highest FDI reception. Maharashtra ranked first for the highest FDI reception. Total exports from the state stood at Rs. 5,06,823 crore (US$ 59.34 billion) in FY25 (April- Feb). Maharashtra exported key items such as Engineering goods, pearls, precious and semi-precious stones, gold and other precious metal jewellery, drug formulations, and electronic goods.
Industries in Maharashtra
Maharashtra has emerged as a key hub for IT & ITeS, electronics, and captive business outsourcing industries. The state has a well-developed social, physical, and industrial infrastructure. Apart from 16 airports, the state has two major and 48 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. Pune is the largest auto hub of India with over 4,000 manufacturing units in the Pimpri-Chinchwad region alone. Pune is home to large players like Bajaj Auto Limited, Daimler Chrysler Limited, Tata Motors, whereas Nasik is home to one of India's largest multi-utility vehicle manufacturers - Mahindra & Mahindra Limited.
Key sectors
- Key sectors allotment under State Budget FY26:
- A long-term road development plan will be prepared to connect tourist centers, pilgrimage sites, and national parks by 2047. Under the Mukhya Mantri Gram Sadak Yojana, it is planned that 3,582 villages will be connected to major roads and highways at a cost of Rs. 30,100 crore (US$ 3.52 billion).
- Government is expecting that electricity purchase costs will be reduced by Rs. 1.13 lakh crore (US$ 13.23 billion) due to the planning and procurement of low-cost green energy. As a result, Maharashtra’s industrial electricity rates are anticipated to be lowered below those of other states.
- Government has allocated Rs. 3,200 crore (US$ 374.7 million) has been allocated towards assistance to ULBs under Maharashtra Nagarothan Mahaabhiyaan.
- Rs. 9,051 crore (US$ 1.06 billion) has been allocated to assistance to local bodies for education.
- Rs. 943 crore (US$ 110.4 million) has been allocated for Mahatma Jyotiba Phule Jan Arogya Yojana.
- As of FY25 (Until Feb), the state had a total installed power generation capacity of 52,514.82 MW, of which the private sector was the largest contributor with a capacity of 30,079.17 MW, followed by 14,112.97 MW from state utilities and 8,322.68 MW from central utilities.
- Thermal power contributed 29,577.02 MW to the total installed power generation capacity, followed by renewable power and nuclear power at 21,869.14 MW and 1,068.66 MW, respectively.
- Maharashtra Industrial Development Corporation (MIDC), CIDCO and Software Technology Park of India developed 37 public IT parks, which are functioning in the state with an investment of ~Rs. 18,000 crore (US$ 2.5 billion).
- MIDC approved 546 private IT parks with a proposed investment of Rs. 92,484 crore. Of these, 199 parks are already operational with an overall investment of Rs. 29,729 crore (US$ 4.1 billion) and employ ~7.75 lakh people (until November 2020).
- Under the State Budget 2021-22, the government spent 5.2% of its budget on roads and bridges, which is higher than the average allocation by states (4.3%) for roads and bridges (Rs. 22,608 crore or US$ 3.06 billion allocated for construction of roads and bridges).
- Under the State Budget 2021-22, the government approved the construction of the Pune-Nashik medium high-speed railway line with a proposed length of 235 km and estimated cost of Rs. 16,039 crore (US$ 2.18 billion); Nashik Metro Neo Project, a total length of 33 km and estimated cost Rs. 2,100 crore (US$ 286.03 million); Metrolite system in Thane city at an estimated cost of Rs. 7,165 crore (US$ 975.92 million) and Pimpri Chinchwad to Nigdi Corridor project at an estimated cost of Rs. 946.73 crore (US$ 128.95 million).
- In May 2022, the state government of Maharashtra signed MOUs with 23 international firms to receive investments worth Rs. 30,379 crore (US$ 3.91 billion).
FACTFILE
Capital
MumbaiGeographical Area (lakh sq km)
3.08State Language
Marathi, Konkani, Hindi and EnglishLiteracy Rate
82.3 per centKey Industries:
Pharmaceuticals
Biotechnology
IT and ITeS
Auto and auto components
Textiles
Engineering
Oil and gas
Food and agro processing
Gems and jewellery
Banking
Financial services
Insurance (BFSI)
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