Maharashtra Unveils Ambitious $5 Trillion Economy Vision Backed by Record FDI and Job Creation
Mumbai: In a landmark address to the state legislature, Maharashtra Governor Acharya Devavrat positioned the state as India's premier investment hub, propelled by unprecedented foreign direct investment (FDI) inflows and a commitment to generate 40 lakh new employment opportunities. The Governor laid out a comprehensive growth blueprint, emphasizing industrial expansion, infrastructure development, and social welfare initiatives.
Record FDI and Global Investment Commitments
Maharashtra has solidified its status as the nation's industrial powerhouse, attracting the highest FDI in the country during 2024-25 at a staggering Rs 1,64,875 crore. This monumental figure represents 39% of India's total FDI inflows, underscoring the state's dominant economic role. The momentum continued into the first half of 2025-26, with an additional Rs 91,337 crore in FDI, reinforcing Maharashtra's contribution of over 13.5% to the national GDP.
The state's global appeal was further highlighted at the World Economic Forum in Davos in January 2026, where Memoranda of Understanding (MoUs) worth approximately Rs 30 lakh crore were signed with companies from 18 countries. These proposed investments are projected to create 40 lakh jobs across diverse sectors, providing a significant boost to employment and industrial growth.
Long-Term Vision and Policy Framework
Governor Devavrat introduced the "Viksit Maharashtra – 2047" roadmap, a strategic plan aimed at transforming Maharashtra into a $5 trillion economy by 2047. To ensure effective implementation, a Vision Management Unit has been established to steer the strategy and monitor outcomes.
Complementing this vision, the government has launched the "Maharashtra Industry, Investment and Services Policy-2025" for the period 2026-2030. This policy targets investments of Rs 70.5 lakh crore and the creation of 50 lakh direct jobs. Additionally, sector-specific policies have been announced to diversify the industrial base:
- Bamboo Industry Policy-2025
- Gems and Jewellery Policy-2025
- Animation, Visual Effects, Gaming, Comics and Extended Reality Policy-2025
- Global Capability Center Policy-2025
Infrastructure and Regional Development
Key infrastructure initiatives include the development of Gadchiroli district as a steel hub and the establishment of a steel corridor in eastern Vidarbha. To enhance transparency in industrial land allocation, the government has introduced the MIDC Industrial Land Application and Allotment Portal (MILAAP).
In a significant move for infrastructure financing, the approval of ‘Maha InvIT' (Infrastructure Investment Trust) will allow selected projects of MSRDC and MSIDC to be transferred to the trust, facilitating fund-raising from private and public investors. This approach is expected to reduce the state's debt burden while ensuring consistent investment in new infrastructure.
Road connectivity is also being prioritized, with 147 major road improvement projects worth Rs 4,478 crore covering 1,100 km sanctioned for 2025-26. The Mumbai-Nagpur Samruddhi Expressway will be extended to the proposed Vadhvan Port in Palghar district and to eastern Vidarbha, strengthening industrial linkages.
Innovation and Export Leadership
Under the "Maharashtra Startup, Entrepreneurship and Innovation Policy 2025", the state aims to nurture 1.25 lakh entrepreneurs and support 50,000 start-ups over the next five years, positioning Maharashtra as a global innovation hub. The state's export capabilities have been recognized with the top rank in the Export Preparedness Index-2024 released by NITI Aayog in January 2026.
Further boosting maritime investments, MoUs worth Rs 56,000 crore were signed during "India Maritime Week–2025" in Mumbai, focusing on port development and shipbuilding to enhance employment and economic activity.
Social Welfare and Inclusion Initiatives
The Governor outlined several welfare measures to promote social inclusion. Financial assistance of Rs 1.5 lakh will be provided for marriages between a person with disability and a person without disability, and Rs 2.5 lakh for marriages between two persons with disabilities, aimed at eliminating discrimination.
Healthcare initiatives include a Corpus Fund Scheme for rare organ transplant surgeries costing over Rs 5 lakh, to be conducted free of cost in authorized hospitals. A Comprehensive Cancer Care Policy is being implemented through a three-tier system to improve affordable oncology treatment and research statewide.
Skill Development and Environmental Sustainability
Skill development is a key priority, with the Ratan Tata Maharashtra State Skills University expanding its presence in Navi Mumbai, Pune, Nagpur, and Thane. The university offers advanced courses in AI, data science, cyber security, mechatronics, industrial design, and healthcare.
Environmental efforts are highlighted by the "Green Maharashtra, Prosperous Maharashtra" campaign, launched in 2025 with a goal to plant 10 crore trees. Nearly 9.88 crore saplings have been planted so far under this initiative.
Empowerment and Agricultural Support
Under the ‘UMED' mission, 6.6 lakh women's self-help groups have been formed, with Rs 44,251 crore in bank credit extended to over 64 lakh families, creating over 26 lakh ‘Lakhpati Didis'. To ensure market access, ‘Umed Malls' will be established in all districts, with approval granted for 13 districts in the first phase.
In agriculture, the "Mukhyamantri Baliraja Mofat Veej Yojana" provides free electricity to farmers with agricultural pumps up to 7.5 HP, benefiting over 44 lakh farmers with a tariff concession of Rs 25,087 crore. The state has installed 6,63,324 solar agricultural pumps under PM Kusum-B and the Magel Tyala Saur Pump Scheme, with 45,911 pumps installed between October 27 and November 25, 2025, earning a Guinness World Record.
Stamp duty and registration fees for land lease agreements for solar projects have been exempted under Mission 2025 Daytime Power Supply to Agriculture – Mukhyamantri Saur Krushi Vahini Yojana 2.0. Additionally, the "Swayampurna Maharashtra Residential Rooftop Solar Scheme" supports economically weaker households consuming less than 100 units per month, enabling them to generate their own power.
With these multifaceted initiatives, Maharashtra is poised to combine robust economic growth with social inclusion and sustainability, setting a benchmark for holistic development in India.
