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.

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. Maharashtra has emerged as a key hub for IT & ITeS, electronics, and captive business outsourcing industries.

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 in various sectors in the state, thereby contributing to the overall development of the economy.

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.

As of FY25 (until February 2025), 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 is the largest producer of sugarcane and is the most industrialised state in India and has maintained the leading position in the industrial sector in the country. Sugarcane production reached 109.67 lakh tonnes during 2022-23. In 2022-23, the state produced 8.31 million bales of cotton.

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, totaling 3,387,739 foreign tourists.

Market capitalisation of the NSE and BSE as on 4th Feb 2025, stood at Rs. 438.00 lakh crore (US$ 5,128.21 billion) and Rs. 403.34 lakh crore (US$ 4,722.40 billion), respectively.

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

• 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.
• In January 2024, Prime Minister Mr. Narendra Modi inaugurated and laid the foundation stone for various development projects valued at over Rs. 12,700 crore (US$ 1.52 billion) in Navi Mumbai, Maharashtra.
• The state government proposed the ‘Hindu Hruday Samrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg’, an eight-lane expressway (701 km long and 120 metres wide) connecting Mumbai and Nagpur with a total estimated cost of Rs. 55,335.32 crore (US$ 7.6 billion). Of the total land required, 92.3% land was acquired as of December 2020.
• An additional international airport was proposed at Navi Mumbai through public-private partnership in four phases with an estimated cost of Rs. 14,179 crore (US$ 1.95 billion) for Phase I to reduce air-traffic congestion at Chhatrapati Shivaji Maharaj International Airport, Mumbai. It is one of the largest greenfield airports planned to handle a minimum of 6 crore passengers and 15 lakh MT of freight per annum.
• 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).
• In 2021-22, Maharashtra allocated 17.2% of its education budget, which is higher than the average budget (15.8%) allocated by states to education (using 2020-21 BE). Rs. 74,830 crore (US$ 10.18 billion) has been allocated to the education, sports, arts and culture sectors.
• As of September 2023, the state had a total installed power generation capacity of 46,137.87 MW, of which the private sector was the largest contributor with a capacity of 24,553.6 MW, followed by 13,450.97 MW from state utilities and 8,133.30 MW from central utilities. Thermal power contributed 28,766.97 MW to the total installed power generation capacity, followed by renewable power, hydropower and nuclear power at 13,159.73 MW, 3,331.84 MW and 879.33 MW, respectively.
• 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 and auto components, gems and jewellery, and food processing. Maharashtra had 12 SEZs with valid in-principal approvals, 51 SEZs with formal approvals and 45 SEZs with notified approvals. As of October 2020, the state had 37 exporting SEZs across diversified sectors including textiles and apparel, food processing, footwear and leather products, multi-product, pharma and IT SEZs.