Maharashtra: A Powerhouse of Business at the World Economic Forum
Maharashtra's robust economy, infrastructure, and dynamic policies make it a prime destination for global investments. The state is set to drive India's economic growth on the global stage, especially at the World Economic Forum.
MaharashtraEconomic GrowthWorld Economic ForumInvestmentsIndustrial PolicyReal Estate MaharashtraJan 19, 2025
This globally significant event offers an ideal opportunity to showcase the state's business-friendly ecosystem and robust infrastructure, which have made it a magnet for global investors.
Maharashtra, with its strong economy, well-developed infrastructure, and dynamic policies, has consistently attracted global investments.
The state boasts one of the highest Memorandums of Understanding (MoU) conversion rates in India, a testament to its business-friendly environment, high levels of safety and security, and a policy framework anchored by its 2019 Industrial Policy.
Initiatives like the Maharashtra State Export Promotion Policy 2023, Sustainable Textile Policy 2023-28, Aerospace & Defence Manufacturing Policy, EV Infrastructure Policy, and the proposed New Industrial Policy 2025 will further cement Maharashtra's position as a key driver of India's $5 trillion economy.
At Davos, the message that states play a pivotal role in India's economic growth and provide opportunities for global stakeholders must be emphasized.
The foundation of sustained economic growth is built on strategic investments in public infrastructure, robust financial markets, and seamless multimodal connectivity.
These elements enhance ease of doing business and create an attractive environment for Foreign Direct Investment (FDI), fueling export-driven growth.
With an impressive $516 billion economy, Maharashtra is poised to lead India's economic expansion.
It has already achieved 95% of its annual average FDI in the first six months of FY25.
As the home of Mumbai, India's financial capital and gateway for global investments, Maharashtra offers unparalleled network of ports, seamless connectivity, and a rich industrial ecosystem, making it uniquely positioned to drive the next chapter of India's growth.
At Davos, Maharashtra will emphasize its strategic advantages and the unparalleled opportunities it offers for global businesses to tap into new avenues for exponential growth.
The state's strategic advantages make it ripe to plug into the global marketplace.
For example, Maharashtra is home to 65% of India's data centers, which can help the country ride the digital wave.
It also boasts Asia's largest industrial water supply network, capable of delivering 2,500 million liters a day (MLD), underlining its critical role in supporting industrial growth.
Maharashtra's comprehensive network of container freight stations accounts for 15% of India's industrial power consumption.
Nearly 34% of the state's total installed power capacity comes from renewable energy (RE), reflecting its commitment to a greener future.
The state is also highly efficient in water usage, with only 1% of total water consumption directed towards industrial use.
To maintain a harmonious balance within the ecosystem, Maharashtra has implemented a robust infrastructure for common effluent treatment plants, with a capacity of 239 MLD, supported by an extensive network for waste storage, disposal, and treatment.
These initiatives reflect the state's commitment to fostering sustainable industrial growth while safeguarding the environment.
Maharashtra's multimodal connectivity is a key strength, with India's longest road network of 1.2 lakh km, the second-largest rail network of 11,600 km, and the highest container volumes across two major and 53 minor ports.
It also has the most number of airports—4 international and 8 domestic, with 11 air cargo terminals.
The announcement of India's largest port, Vadhavan, coming up in Palghar, will further strengthen its position in this strategic domain.
Maharashtra's forward-looking Industrialization Roadmap 2028 aims to add 1 lakh acres of industrial land, with subsequent phases expanding this further.
This shift from developing industrial areas to ecosystems reflects the state's new-age industrialization journey.
Emerging regions like Nashik, Chhatrapati Sambhaji Nagar (Aurangabad), and Gadchiroli are stepping into the spotlight, showcasing the state's ability to balance tradition with innovation.
Aurangabad Industrial City (AURIC), India's first well-planned, greenfield smart industrial city, spread across 10,000 acres, is a key part of the Delhi-Mumbai Industrial Corridor (DMIC) Project.
AURIC exemplifies a seamless blend of tax incentives, simplified regulations, and expedited approvals.
The state also plans to provide special incentives for tier-2 and -3 cities, establish green industrial parks, education, medical, and innovation cities.
There are also plans to set up export parks, a 2,000-acre National Logistics Hub, and a green-powered Data Centre.
Maharashtra, as a showcase at Davos, aims to set a global benchmark for economic performance and innovation, and work collaboratively with the world in the age of natural and artificial intelligence.
Frequently Asked Questions
What is the World Economic Forum (WEF)?
The World Economic Forum (WEF) is an international organization that brings together business leaders, policymakers, and experts to discuss and shape global, regional, and industry agendas. It is held annually in Davos, Switzerland.
What are the key policies that attract investments to Maharashtra?
Maharashtra has several policies that attract investments, including the 2019 Industrial Policy, Maharashtra State Export Promotion Policy 2023, Sustainable Textile Policy 2023-28, Aerospace & Defence Manufacturing Policy, and the proposed New Industrial Policy 2025.
How does Maharashtra support sustainable industrial growth?
Maharashtra supports sustainable industrial growth through initiatives like its robust industrial water supply network, efficient water usage, and a significant portion of its power capacity coming from renewable energy. It also has a strong infrastructure for waste management and effluent treatment.
What is the significance of the Vadhavan port in Palghar?
The Vadhavan port in Palghar is set to be India's largest port. It will significantly enhance Maharashtra's position in the domain of multimodal connectivity and trade, further strengthening its strategic importance in the global marketplace.
What is the Industrialization Roadmap 2028 for Maharashtra?
Maharashtra's Industrialization Roadmap 2028 aims to add 1 lakh acres of industrial land and shift from developing industrial areas to creating ecosystems. This forward-looking plan includes the development of tier-2 and -3 cities, green industrial parks, and specialized zones for education, medical, and innovation.
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