Maharashtra Launches ‘Invest Maharashtra’ to Boost Industrial Growth and Attract FDI
The Maharashtra government has taken a significant step towards boosting industrial growth and attracting foreign direct investment (FDI) by setting up a new investment promotion agency called ‘Invest Maharashtra.’ This initiative, launched on Friday, aims to position Maharashtra as a leading economic powerhouse in India and globally.
The governing council of Invest Maharashtra will be headed by Chief Minister Devendra Fadnavis. A budgetary provision of Rs 3,000 crore has been approved for the agency, with Rs 1,000 crore allocated as a catalytic fund to focus on revenue generation and scalable impact. This move comes as several other states, including Tamil Nadu, Karnataka, Gujarat, Uttar Pradesh, Telangana, Andhra Pradesh, and Rajasthan, have already established similar investment promotion institutions and global investor facilitation centers to attract investments and enhance global connectivity.
Invest Maharashtra is set up under Section 8 of the Companies Act, 2013, under the Industries Department. The department is led by Shiv Sena minister Uday Samant, but the governing council and board of directors of Invest Maharashtra will be headed by Chief Minister Fadnavis. Both Deputy Chief Ministers will serve as co-chairmen, the Industries Minister as vice-chairman, and the Principal Secretary (Industries) as member secretary.
The country is rapidly moving towards the goal of becoming a ‘Developed India’ by 2047. Through a strategic framework, India is making strong progress towards becoming a $5 trillion economy by 2028 and a $30 trillion economy by 2047. India has emerged as a symbol of stability, resilience, and development, and is the fastest-growing major economy in the world. It is also recognized as a country that promotes innovation, the manufacturing sector, and sustainable development.
At the center of this national development story is the state of Maharashtra, known as the economic powerhouse of India. Maharashtra contributes about Rs 51 lakh crore to the national Gross Domestic Product (GDP) and more than 15.4% to the country’s industrial production. The state has consistently led the country in attracting FDI, accounting for more than 31% of the country’s total FDI flows in the last decade. Major cities like Mumbai, Pune, Nagpur, Sambhajinagar, and Nashik are steadily developing as major hubs for financial services, IT/ITES, logistics, electric vehicles (EV), clean energy, and advanced manufacturing sectors. Emerging sectors and regions are creating new opportunities for growth in the coming period.
Invest Maharashtra will work for investment attraction and facilitation under the Maharashtra Industry, Trade and Investment Facilitation Act, 2023, and Rules 2025. The agency will focus on policy development, investment promotion, and attraction. It will also coordinate with MIDC, Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI), Directorate of Industries, Maharashtra Industrial Township Limited (MITL), and other relevant institutions to meet the comprehensive needs of global and domestic investors. This service will be available to investors in all sectors of the economy, including primary, secondary, and tertiary.
The establishment of Invest Maharashtra is a significant step towards achieving the state’s goal of becoming a $1 trillion economy by 2030. With its vast economic potential, advanced policy framework, capable investor class, strategic geographical location, and world-class industrial infrastructure, Maharashtra is well-positioned to attract substantial investments and drive economic growth.
