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Information About Maharashtra: Industries, Exports, Economy & Infrastructure Growth

Latest update: March, 2020

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Factfile

  • Capital:Mumbai
  • Geographical Area (lakh sq km):3.08
  • State Language:Marathi, Konkani, Hindi and English
  • Literacy Rate:82.3 per cent
  • Key Industries:Pharmaceuticals, biotechnology, IT and ITeS, electronics, engineering, auto and auto components, oil and gas, food and agro processing, gems and jewellery, banking, financial services and insurance (BFSI) and textiles

Last Updated: March, 2020

MAHARASHTRA State Report | March, 2020

Maharashtra is situated in the western region of the country. The state shares borders with Gujarat, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Goa and the Union Territory of Dadra and Nagar Haveli.

Maharashtra’s gross state domestic product (GSDP) at current prices accounted for 14.89 per cent of India’s gross domestic product (GDP) in 2017-18, the highest among all states. The GSDP grew at a CAGR of around 11.83 per cent from 2011-12 to 2019-20 to reach US$ 453.99 billion. The net state domestic product (NSDP) grew at a CAGR of around 11.75 per cent from 2011-12 to 2017-18 to reach US$ 340.41 billion.

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. Maharashtra has emerged as a key hub for IT and 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.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows^^ in the state of Maharashtra during April 2000 to December 2019 stood at US$ 133.83 billion. During 2018-19, total merchandise exports from the state stood at US$ US$ 74 billion and US$ 49.94 billion during April-December 2019.

Key sectors:

  • At current prices, the contribution of the financial sector to the GSDP of the state increased at a CAGR of 11.83 per cent between 2011-12 and 2019-20.
  • On March 2019, the Sindhudurg airport was made operational, making it the first in the coastal Konkan region to be on the country's air map.
  • An MoU was signed between Airport Authority of India and Maharashtra Industrial Development Corporation to start the operations at Ratnagiri airport under the UDAN scheme.
  • As of November 14, 2019, Maharashtra had 12 SEZs with valid in-principle approvals, 48 SEZs with formal approvals, 31 exporting SEZs and 42 SEZs with notified approvals.
  • The state has produced 6.55 million bales of cotton in 2017-18* and 7.83 million bales of cotton in 2018-19**. In 2018-19P, the state has also produced 519 MT of raw silk.
  • Till March 2019, 249 SEZs have been proposed from which 30 were executed with investment of Rs 36,352 crore (US$ 5.27 billion) and generated employment of about 5.9 lakh.
  • During 2018-19, Maharashtra Industrial Development Corporation (MIDC), CIDCO and Software Technology Park of India cumulatively developed 37 public IT parks and approved 527 private IT parks. Of the total 527 IT parks, 193 parks are already operational with an overall investment of Rs 19,927 crore (US$ 2.85 billion and remaining 334 with an investment of Rs 62,217 (US$ 8.90 billion), which is expected to generate 10.81 lakh opportunities.
  • Maharashtra accounts for approximately 35.1 per cent of the country’s output of automobiles by value.
  • The state has launched Unlimited Maharashtra advertising campaign through newspapers and television channels to attract tourists during summer vacations. A half-hour ferry ride across Mumbai harbor takes visitors to view the superbly carved 1,300 years old cave temple on the little island of Elephanta, a favourite picnic spot.
  • In 2018, the state had 119.2 million domestic tourist arrival and 5.08 million foreign tourist arrival.

 

Note: ^ - Includes Maharashtra, Dadra & Nagar Haveli and Daman & Diu, * - As per 3rd Estimates, P – Provisional, **-in lakhs bales of 170 kgs eachS

Factfile

  • Capital:Mumbai
  • Geographical Area (lakh sq km):3.08
  • State Language:Marathi, Konkani, Hindi and English
  • Literacy Rate:82.3 per cent
  • Key Industries:Pharmaceuticals, biotechnology, IT and ITeS, electronics, engineering, auto and auto components, oil and gas, food and agro processing, gems and jewellery, banking, financial services and insurance (BFSI) and textiles
Maharashtra Map

Maharashtra