The state of Maharashtra is the topmost destination for many industries that contribute at large to building India’s economy. We will be covering all the major industries and sectors working in Maharashtra.
Before jumping straight into the industry data, we must understand that many factors make this state a favorable destination for setting up an industry.
Let’s begin with our list:
The automotive sector plays an important role in the industrialization of the state. Each part of the sector, including two and three wheels, cars, and commercial vehicles, is represented by the state. The major automotive centers in the state include Pune, Nashik, Aurangabad, and Nagpur. Pune is home to big players such as Bajaj Auto Ltd, Daimler Chrysler Ltd, TELCO, and others. Meanwhile, Nashik is home to India’s largest multi-purpose vehicle manufacturer, Mahindra & Mahindra.
The state accounts for about 38 percent of national automobile exports by value. About 40 percent of the automotive industry works in the state. Major automotive centers in the state include Pune, Nashik, Aurangabad, and Nagpur.
The main force of state competition in the automotive and automotive industries is the presence of established manufacturers. The network of suppliers and component suppliers is a critical consideration when deciding on the location of each automotive unit. The strong presence of the engineering sector is another advantage of the state, together with a large qualified work base. The goods transport infrastructure of the state is also a positive factor for the automotive logistics industry.
Media & Entertainment
This billion $ industry has HQ of India in the capital city of Maharashtra. FICCI has published a report, where it states that the ‘Media & Entertainment industry has been hitting new milestones and has stepped onto a matured phase at a growth rate of 12% CAGR.’
The entertainment industry in Maharashtra has five sub-parts which are Television, Film, Radio, Music, and Theater. A new form of entertainment has raised the competition high i.e Web Content. Television still holds the majority of stake in the state as the household holds & kids prefer the traditional entertainment source. Adults, on the other side, prefer web-content over traditional entertainment.
India being the world’s largest exporter of software, Maharashtra accounts for more than 20% of India’s software exports. With more than 1,000+ Small, Medium & Large enterprises registered in the state contribute around the US $8 Billion of IT exports.
Pune & Mumbai city are the major hubs for IT companies in the state. Pune is the second-largest city for IT companies after Bangalore in India. It has several IT parks, notably at Hinjewadi, Magarpatta, Kharadi, Fursungi, and Talawade. The IT sector in Maharashtra is set to rise exponentially, as there has been news in recent times that Google will be setting up its new campus in Pune.
Pharmaceutical & Bio-Technology
Home to several global pharma companies in Maharashtra, it holds about 20% of India’s pharmaceutical output. The world’s largest vaccine manufacturer Serum Institute is headquartered in Pune city.
Pharma companies in Maharashtra are distributed in these districts: Mumbai, Nagpur, Aurangabad, Nasik, Raigad, Thane, Pune, and Ratnagiri. The list of manufacturers is big and are operationalized in manufacturing various pharma products like hand sanitizers, medicine for multiple diseases, surgical tools & equipment, etc.
These are a few of the industries that have a remarkable presence in the Indian economy. Other than these Banking & NBFCs (Non-Banking Financial Companies), Wealth management sector, Food & Beverages, Tourism, Agriculture, Chemical, Textile, etc. are also contributing largely in employment generation and developing Maharashtra’s economy.
– Parag Ahire