The Maharashtra government has unveiled a comprehensive new industrial policy, strategically positioning Nagpur as a pivotal hub for industrial and defence corridors, as well as a preferred destination for Global Capability Centres (GCCs). The policy, approved by the state Cabinet during the winter session of the legislature, was detailed in an official Government Resolution (GR) issued on Wednesday.
Key Corridors and Strategic Focus Areas
The GR outlines plans to develop dedicated defence corridors passing through Nagpur, Wardha, Amravati, and Saoner in the Vidarbha region. Similar corridors are planned for other major industrial zones, including Pune, Ahilya Nagar, Chhatrapati Sambhaji Nagar, Nashik, and Dhule. The policy aims to propel industrial growth along four major corridors.
One of the flagship projects is the Samruddhi Industrial Corridor, connecting Nagpur to Mumbai. This ambitious corridor will feature 18 new townships and 24 interchanges, designed to spur development in Vidarbha, Marathwada, and North Maharashtra. This initiative is aligned with the national industrial corridor programme.
In a significant push for green mobility, the state's electric vehicle policy identifies specific districts where at least 40% of the fleet belonging to state transport utilities must transition to electric vehicles. The cities on this list are Nagpur, Mumbai, Nashik, Chhatrapati Sambhajinagar, Pune, and Amravati.
Infrastructure Boost and Thrust Sectors
To address critical infrastructure gaps, the policy mandates the creation of a critical investment fund. This fund will be utilized for developing infrastructure along the industrial corridors and linking the defence corridors effectively. The state has identified several high-potential thrust areas for focused development, which include:
- Semiconductors
- Hydrogen fuel
- Lithium battery and solar cells
- Aerospace and defence
- Coal gasification
Furthermore, the policy mentions the development of a steel corridor in Gadchiroli and a green corridor in Butibori, near Nagpur.
Invest Maharashtra and Industry Reaction
A major institutional initiative under the policy is the establishment of 'Invest Maharashtra'. This entity will be set up as a Section 8 company (not-for-profit) or a society with a substantial outlay of Rs 3,000 crore. Its primary objective is to reinforce Maharashtra's position as a premier investment destination globally.
The industry has welcomed the policy. The Vidarbha Industries Association (VIA) stated that the policy aims to make Maharashtra the first trillion-dollar state in India. A long-standing demand from VIA to increase the eligibility threshold for special incentives to an investment of Rs 125 crore, up from Rs 50 crore, has been accepted. This change, along with a new definition for special large-scale industries, is expected to particularly benefit the Vidarbha region.
Julfesh Shah, President of the Chamber of Association of Small Industries Associations (COSIA), highlighted that the move to provide incentives to export-oriented industries will give a significant boost to the sector in the region. Notably, the policy also calls for incentives for industries setting up in developed Zone A areas like Mumbai and Pune, a shift from the earlier focus which was largely on underdeveloped districts.
