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

Last updated on Nov, 17 2020

Economic Snapshot
Per capita Income

 

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 State Report | September, 2020

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.

Maharashtra’s Gross State Domestic Product (GSDP) at current prices was Rs. 32.24 trillion (US$ 467.38 billion) in 2019-20. GSDP of the state increased at a CAGR (in Rs.) of ~13.16% from 2015-16 to 2019-20.

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 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 Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in Maharashtra stood at US$ 8,429.45 million between October 2019 and June 2020, the highest among all states in India.

Key sectors:

  • Aggregate deposits and credit of scheduled commercial banks in Maharashtra stood at US$ 370 billion and US$ 394 billion, respectively, in 2019-20.
  • In FY20, Maharashtra Industrial Development Corporation (MIDC), CIDCO and Software Technology Park of India developed 37 public IT parks and 530 private IT parks. Of the total IT parks, 190 parks are already operational with an overall investment of Rs. 199.27 billion (US$ 2.71 billion) and about 5.30 lakh employment.
  • In 2018-19, the state reportedly produced 7.7 million bales of cotton. In 2019-20 (as of April 2020), the state has also produced 428 MT of raw silk.
  • As of August 2020, the state had a total installed power generation capacity of 43,720.58 MW, of which the private sector was the biggest contributor with a capacity of 22,140.74 MW, followed by 13,660.97 MW from state utilities and 79,18.87 MW from central utilities.
  • In 2020-21, two new schemes, Gramin Sadak Vikas Yojana and Nagari Sadak Vikas Yojana, have been announced for construction of roads in rural and urban areas, respectively.  Rs. 10 billion (US$ 135.92 million) and Rs. 15.01 billion (US$ 204.02 million) have been allocated for these schemes, respectively.
  • In 2020-21, Maharashtra spent 4.3% of its budget on roads and bridges, which is comparable to the average allocation by states (4.2%) for roads and bridges (Rs 110.49 billion or US$ 1.50 billion has been allocated for construction of roads and bridges).
  • In 2019, tourist arrivals in Maharashtra stood at 149.2 million (domestic) and 5.5 million (foreign).

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