Last updated on Jun, 26 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.
Maharashtra’s Gross State Domestic Product (GSDP) grew at a CAGR of around 12.05 per cent between 2015-16 to 2019-20 to reach US$ 303.5 billion. Net State Domestic Product (NSDP) grew at a CAGR of around 7.07 per cent between 2015-16 to 2017-18 to reach US$ 340.41 billion.
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.
Jawaharlal Nehru Port is the largest port in India in terms of container traffic. During F20, the port handled 68.44 million metric tonnes of traffic.
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 Department for Promotion of Industry and Internal Trade (DPIIT), cumulative Foreign Direct Investment (FDI) inflow^^ in the state stood at US$ 137.93 billion between April 2000 and March 2020. Total merchandise export from the state stood at US$ US$ 74 billion during 2018-19 and US$ 49.94 billion during April-December 2019.
In 2019, 410 investment intentions worth Rs 115,277 crore (US$ 5.59 billion) were proposed in the state.
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 73.08 million tonnes during 2019-20. 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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