India’s largest state economy
Maharashtra contributes Maharashtra contributes ~13.6% of national GDP and ~12-13% of India’s industrial output in FY25. With Mumbai-Pune-Nagpur-Nashik-Chhattrapati Sambhaji Nagar as anchor nodes, the state is India’s financial capital and a diversified manufacturing–services hub.
Economic overview
Services dominate while manufacturing depth remains material. Mumbai hosts Asia’s oldest stock exchange (BSE, est. 1875) and major financial institutions, while statewide clusters span autos, chemicals, food processing, and textiles.
Sectoral highlights
- Automobiles & components: Concentrated in Pune and Nashik; attracts global OEMs and tier-1s
- Electronics/ESDM & IT: Large skilled talent base and growing electronics design & manufacturing
- Chemicals & pharmaceuticals: Strong specialty-chemicals and pharma manufacturing zones
- Financial services & corporate HQs: Mumbai remains India’s financial capital
- Exports & logistics: FY25 (Apr–Feb) exports: US$59.3 bn; diversified basket and strong gateways
- Infrastructure & corridors: Flagship 701 km Mumbai–Nagpur (Samruddhi) Expressway enhances east–west connectivity
Investment climate & strategic strengths
- FDI leader: Top share nationally (31% share of India’s FDI during October,2019-September, 2024)
- Single-window facilitation: MAITRI (Maharashtra Industry, Trade & Investment Facilitation Corporation) promotes and streamlines investments with a large, public pipeline
- Balanced cost–capability mix: Scale manufacturing alongside high-value services supported by deep human capital
Infrastructure & connectivity
- Ports: India’s west coast, stretching across Gujarat, Maharashtra, Goa, Karnataka, and Kerala, anchors its trade network through two major ports, Jawaharlal Nehru Port Authority (JNPA) and Mumbai Port, supported by more than 48 non-major ports that handle much of the nation’s container and bulk cargo. During 2023-24, Mumbai Port and Jawaharlal Nehru Port handled 672.60 lakh MT and 858.18 lakh MT cargo traffic respectively
- Roads: Samruddhi Mahamarg (701 km) among India’s longest greenfield expressways
- Air & rail: Major airports at Mumbai, Pune, Nagpur; strong rail links to national freight corridors
- Industrial parks & SEZs: Extensive Maharashtra Industrial Development Corporation (MIDC) network across districts
This infrastructure base allows investors to integrate into national and global value chains with fewer bottlenecks and better responsiveness.
Human capital & innovation
- Dense university/technical ecosystem across Mumbai–Pune–Nagpur
- Startup, Entrepreneurship & Innovation Policy 2025: targets recognising up to 50,000 startups and nurturing ~125,000 entrepreneurs over five years, with new funds and hubs
Outlook & global alignment
Maharashtra has set a bold target to become a US$1 trillion economy by 2030 and US$5 trillion economy by 2047. It is prioritising electric vehicles, batteries, semiconductors and renewables, while deliberately expanding growth into its districts beyond the Mumbai–Pune corridor. With deep services capabilities, large-scale manufacturing ambition, and logistical infrastructure in place, the state is positioning itself to benefit from global supply-chain diversification and rising export momentum.
- $530 Bn Economy - Largest economic contribution to India’s GDP in FY 25
- 64% Services Share - Service led Economy with India’s largest Financial Sector contribution at 24%, powered by Mumbai
- 24% GCCs - Of India are based in the state with 2nd largest IT exports
- 30,000+ Startups - Largest Indian startup ecosystem with 25 Unicorns
- 7,00,000+ Graduates - ITI and Technically skilled graduates who are Industry ready every year
- ~70% Employable - Largest pool of talent in India, 70% population in the working age group of 15–59 years
