Maharashtra has the Highest Nominal GDP at 14% in All-India Average Share and Highest FDI at 29%
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 5 international and 13 domestic airports, over 3.24 Lakh km of road network, 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 2021-22, Mumbai Port and Jawaharlal Nehru Port handled 598.90 lakh MT and 759.96 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 31st March, 2023 was 44,525 MW of which share of private sector was 23,130 MW, public sector was 21,395 MW. Therefore, the business community is welcome to explore many business opportunities in Maharashtra.
Maharashtra attracted investment proposals of INR 2.74 Lakh Cr between Jun’20-Dec’22. 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 advance estimates Per Capita State Income for 2022-23 is expected at Rs 2.4 Lakh and exports from Maharashtra amounted to Rs 2.4 Lakh Cr (2022-23 till Aug’23). 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. Upto 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 97 Mn and 133 Mn telecom subscribers. It is one of the leading states with 991 Engineering and Management Colleges and 958 ITI’s. 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). Upto 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.