According to the Department of Industrial Policy and Promotion (DIPP) report, Maharashtra has secured the highest share of FDI at 29% in 2022-2023, surpassing states like Karnataka, Gujarat and Delhi. The state has also received investment proposals worth INR 4.72 lakh crore between October 2019 and September 2023, with about 70% of them coming from renewable energy, information technology and steel manufacturing sectors.
The state also has a well-developed infrastructure, with 3 international and 7 domestic airports, 50 ports, 17,757 km of national highways and 6,400 km of rail route length. The state capital Mumbai is the financial capital of India and houses leading corporate headquarters and firms.
The state also ranks first in terms of domestic investment intentions, with proposed investments worth Rs 16.8 lakh crore between 2015 and 2020. Some of the major sectors that have attracted investments in Maharashtra are information technology, biotechnology, automobiles, textiles, pharmaceuticals, and tourism. The state government has launched several initiatives and policies to facilitate and promote investment in these and other emerging sectors, such as defence, aerospace, logistics, electric vehicles, and renewable energy. Some of the major investments are:
• Reliance Industries Ltd (RIL) plans to invest Rs 60,000 crore in a digital industrial area in Navi Mumbai over the next 10 years.
• Hyundai Motor India Ltd (HMIL) has invested Rs 3,200 crore to set up a new manufacturing plant in Chakan with an annual capacity of 2 lakh units.
• Amazon India has set up three fulfilment centres in Bhiwandi, Mumbai, and Pune with a combined storage space of over 2.5 million cubic feet.
This story is from the February 2024 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 2024 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Optimising milling operations
Exploring innovative strategies that are reshaping the milling landscape to meet the challenges of a competitive global market.
The path to excellence
Tata AutoComp’s Double Deming triumph is testament to quality and innovation
Boosting India's energy efficiency with advanced low voltage motors
Stefan Floeck, Division President of IEC Low Voltage Motors at ABB Motion, discusses the role of low voltage motors in India’s industrial future.
The Tech of E-commerce
Technology is revolutionising e-commerce by enhancing demand forecasting, inventory management, and customer experiences through AI, blockchain, IoT, and real-time data analytics.
Driving Sustainability and Innovation
A conversation with Rajendra B Chunodkar, President Manufacturing Operations, Lupin
The evolution of machining technologies
The evolution of machining technologies is reshaping the manufacturing landscape, offering unprecedented opportunities for efficiency, precision, and sustainability.
Transforming the future of manufacturing technology
A pre-event report on IMTEX 2025: The premier manufacturing and metal cutting technologies event for
THE MAKE IN INDIA JOURNEY
An analysis of the initiative's impact on the manufacturing sector.
Tata Motors Re.Wi.Re: Innovation meets responsibility
Tata Motors advances circular economy via Re.Wi.Re scrapping facility.
After Apple, Google Pixel set to be manufactured in India
Dixon Technologies' alliance with Compal Electronics is poised to further accelerate India's push to become a global hub for smartphone manufacturing.
