Maharashtra

SNAPSHOT

Maharashtra has the Highest Nominal GDP at 14% in All-India Average Share and Highest FDI at 31%

The State capital Mumbai is the financial capital of India and houses leading corporate headquarters and firms. It also has Asia’s oldest Stock Exchange, the Bombay Stock Exchange. The State houses various world heritage sites such as Ajanta, Ellora & Elephanta caves, 19th century Victorian Neo-Gothic public buildings & 20th century Art Deco buildings and Chhatrapati Shivaji Maharaj Terminus.

Maharashtra lies on the western coast of India. It is the third largest state in India, occupying approximately 9.4% of the country's total geographical area. The state is well connected to all the major markets with 3 international and 7 domestic airports, has the largest network of National Highways with 17,757 km, and over 6400 km of rail route length. The State’s coastline of 720 km and presence of 50 ports, 2 major and 48 non-major ports facilitate over 20% of the total cargo transport in India. For administrative convenience, the State has been divided into 36 districts and six revenue divisions. 

Two major ports viz. Mumbai Port and Jawaharlal Nehru Port are located in the State. During 2023-24, Mumbai Port and Jawaharlal Nehru Port handled 672.6 Lakh MT and 858.2 Lakh MT cargo traffic respectively. JNPT is connected to 33 Container Freight Stations (CFS) and 47 Inland Container Depots (ICD). Under the Sagarmala programme, GoI has sanctioned 34 projects in the State to develop infrastructure facilities at ports with estimated cost of INR 1,102.06 Cr. Installed capacity (in MW) of power utilities in the state as on 30th Sept 2024 was  49.4 GW of which share of private sector was 27.62 GW, public sector was 21.77 GW. Therefore, the business community is welcome to explore many business opportunities in Maharashtra. 

The share of investments from Renewable Energy, Information Technology and Steel Manufacturing sectors is about 70% in total proposed investment. The PM Mitra Park in Amravati is the only Brownfield PM MITRA Park in India, with ready to operate infrastructure and functioning CETP. There are 12 Textile Parks in the State at Hinghanghat, Basmat, Latur, Shirpur, Dhule & Degaon, Bhivandi, Baramati, Islampur and Ichalkaranji. 

As per Industrial Policy, 2019, an Export Promotion Council has been set-up to facilitate export promotion and under the ‘One District One Product’ scheme, District Export Promotion Councils has been set up to make every district an emerging export hub.  

Under Maharashtra Electric Vehicle Promotion Policy, 2018 proposed investment of INR 8,420 Cr and 9,500 expected employment are in process. Up to September 2022 approval has been given to 738 mega projects in the State with proposed investment of INR 6.12 Lakh Cr and expected employment of 6.72 lakh persons. Maharashtra Tourism Policy, 2016 aims to make the State a leading tourist destination by 2025 and attract investments to the tune of INR 30,000 Cr along with creation of 1 Mn additional jobs in this industry.

Maharashtra has one of the largest base of internet subscribers in India at 71.47 (March 2023) and Cell phone connections stood at 12.56 Cr (September 2022). Maharashtra has the highest employable talent in India at 68%. 

Aurangabad Industrial City (AURIC), a well planned and greenfield smart industrial city based on the concept of ‘walk to work’, is being developed across an area of 4,000 Ha in the State as a part of Delhi-Mumbai Industrial Corridor (DMIC). Up to November, 2022 in all 191 plots of total area of about 303 ha have been allotted in AURIC to the investors. Total investment in AURIC is more than INR 6,000 Cr and employment generated is about 10,500.