Devendra Fadnavis urges India Inc to look at Maharashtra for their next big ventures
ADVERTISEMENT
Maharashtra Chief Minister Devendra Fadnavis today urged the corporate sector to look at Maharashtra for their "next big ventures" as the state remains committed to attracting new investments and strengthening business environment.
The state is planning to introduce a dedicated chemical sector policy by the end of October, while exploring development of 2,500–5,000-acre chemical parks in Palghar, Raigad and Ratnagiri. It is also planning a ₹1,000-crore Maharashtra Industries and Investment Fund to support R&D, technology readiness and innovation.
“We invite investors to look at Maharashtra for their next big venture. The state is committed to creating a pro-business environment through the single-window MAITRI platform, faster clearances, and robust policy incentives. A sector-specific Chemical Sector Policy will soon be announced, which will further help attract investments and accelerate growth,” Fadnavis said at Assocham MahaChem 2026.
Fadnavis said the chemical and petrochemical sector is a primary engine of Maharashtra’s $1 trillion economy vision, adding that the government would continue to provide financial, logistical and administrative support to build an innovation-led and sustainable industrial future.
“Maharashtra is working towards a dedicated Chemical Sector Policy, and we expect to have it in place by the end of October. The policy will address the specific requirements of the sector and complement initiatives already being developed across bioplastics, biotechnology, biomanufacturing and other emerging areas,” said P. Anbalagan, Principal Secretary (Industries, Investment and Services Department) Government of Maharashtra.
“The state is taking steps to create a stronger ecosystem for the chemical sector, with a dedicated policy, new chemical parks and measures to support innovation and technology-led growth,” he added.
He said the state is also examining locations including Palghar, Raigad and Ratnagiri for chemical parks ranging from 2,500 to 5,000 acres. “Alongside this, faster approvals and ease of doing business would remain key priorities. The proposed ₹1,000-crore Maharashtra Industries and Investment Fund will support R&D, technology readiness and innovation, while strengthening the financing ecosystem for new technologies and businesses,” he said.
“For strategic sectors such as chemicals and pharmaceuticals, competitive utility costs, flexible energy access, sustainable water management and supportive policy reforms will be critical to strengthening Maharashtra’s industrial competitiveness,” Praveen Pardeshi, Chief Economic Advisor to Maharashtra Chief Minister said.
How big is the chemical sector potential in Maharashtra?
According to the Assocham-EY report, ‘Maharashtra: Fueling India’s Trillion-Dollar Chemical Vision,’ released at MahaChem 2026, Maharashtra’s chemical sector is valued at around US$22 billion, with more than 3,600 factories and 13 designated chemical zones.
“The sector contributes around 19 per cent to India’s chemical sector GVA and 17 per cent of the country’s chemical exports, while accounting for 13.5 per cent of Maharashtra’s industrial output and employing around 3 lakh people,” the report said.