Latest update: March, 2020
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.
GSDP of the state grew at a CAGR (in Rs) of around 11.83 per cent from 2011-12 to 2019-20 whereas the Net State Domestic Product (NSDP) grew at a CAGR of around 11.75 per cent from 2011-12 to 2017-18.
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 producers 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 DPIIT, cumulative FDI inflows^^ in the state of Maharashtra during April 2000 to December 2019 stood at US$ 133.83 billion. In 2019, 410 investment intentions worth Rs 115,277 crore (US$ 5.59 billion) have been proposed in the state.
Total exports from the state stood at US$ 74 billion during 2018-19 and US$ 49.94 billion during April-December 2019.
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 93.04 million tonnes during 2018-19*. During 2018-19^, cotton production in the state stood at 7.83 million bales. 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:
Note: *Includes Maharashtra, Dadra & Nagar Haveli and Daman & Diu, P – Provisional, ^ - As per 1st advance Estimates (Kharif Season), * - As per 1st advance Estimates
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