Powering nearly a fifth of its economy with a colossal Rs 12.45 lakh crore output, Maharashtra's industrial might is the vibrant engine room of India's growth story.
Key Takeaways
- In FY 2022-23, Maharashtra's manufacturing sector contributed Rs 12.45 lakh crore to the state's GSDP, representing 18.7% of the total GSDP
- Maharashtra hosts over 2.5 lakh registered manufacturing units, employing more than 45 lakh people as of 2023
- The state's index of industrial production (IIP) for manufacturing grew by 7.2% in 2022-23 compared to 4.8% national average
- Maharashtra's IT/ITES sector contributed Rs 4.2 lakh crore to GSDP in FY23, 11% of state GSDP
- Pune IT hubs host 1,200 companies employing 25 lakh professionals as of 2023
- Mumbai's BPO/KPO industry generated USD 8.5 billion exports in FY22-23, 20% of India's total
- Maharashtra's pharma industry produced 35% of India's formulations worth Rs 2.8 lakh crore in FY23
- There are 4,500 pharma manufacturing units in the state, exporting USD 7.2 billion in 2022-23
- Aurangabad pharma cluster has 120 API producers with 25% national capacity in 2023
- Maharashtra's auto industry produced 5.2 million vehicles in FY23, 35% of India's total
- Pune auto cluster has 4,500 ancillary units supplying Rs 2 lakh crore components annually
- Tata Motors Pune plant rolled out 1.8 lakh commercial vehicles in 2023
- Textile industry in Maharashtra produced 1,200 million kg yarn in FY23, 18% of India total
- Ichalkaranji powerloom cluster wove 800 million meters fabric annually in 2023
- Food processing sector turnover Rs 2.5 lakh crore, processing 40% of state's agri produce
Maharashtra's manufacturing sector is a massive engine for both state and national economic growth.
Automotive and Engineering
- Maharashtra's auto industry produced 5.2 million vehicles in FY23, 35% of India's total
- Pune auto cluster has 4,500 ancillary units supplying Rs 2 lakh crore components annually
- Tata Motors Pune plant rolled out 1.8 lakh commercial vehicles in 2023
- Two-wheeler production from Bajaj and Hero reached 3.5 million units in FY23
- Electric vehicle manufacturing capacity hit 1 million units pa with 50,000 EVs produced in 2023
- Engineering exports from Maharashtra were USD 18 billion in 2022-23, led by auto parts
- Chakan MIDC hosts 120 auto OEMs and 2,000 Tier-I suppliers employing 3 lakh
- Tractor manufacturing by Sonalika and others produced 1.2 lakh units in 2023
- Aerospace engineering firms supplied Rs 15,000 crore parts to Boeing and Airbus in FY23
- Heavy engineering like L&T produced 500 turbines and 200 pressure vessels in 2023
- Machine tools manufacturing output Rs 18,000 crore from 450 units in Pune-Nashik
- Forging industry capacity 2 million tonnes pa, supplying 40% auto sector needs
- Railway coaches production at Kurla workshop: 1,500 coaches annually in 2023
- Construction equipment manufacturing by ACE and others: 25,000 units in FY23
- Pump and valve engineering output Rs 12,000 crore exports from 800 units
- Wind turbine manufacturing by Suzlon produced 2 GW capacity components in 2023
- Material handling equipment from Godrej and others: 50,000 units pa capacity
- Precision engineering for defence: Rs 8,000 crore orders executed in FY23
- Industrial robotics firms installed 5,000 robots in auto plants in 2023
- Heat treatment and surface engineering services for 10,000 auto components daily
Automotive and Engineering Interpretation
Maharashtra's industrial might, from the relentless churn of its auto hubs to the high-stakes precision of its aerospace shops, proves it doesn't just build vehicles but engineers the very backbone of the nation's economy.
IT and Services
- Maharashtra's IT/ITES sector contributed Rs 4.2 lakh crore to GSDP in FY23, 11% of state GSDP
- Pune IT hubs host 1,200 companies employing 25 lakh professionals as of 2023
- Mumbai's BPO/KPO industry generated USD 8.5 billion exports in FY22-23, 20% of India's total
- Nagpur's MIHAN SEZ has 150 IT firms with 50,000 seats operational in 2023
- Maharashtra's software exports reached USD 42 billion in 2022-23, led by TCS and Infosys campuses
- The state has 45% of India's data centers with 250 MW capacity installed by 2023
- Fintech startups in Mumbai numbered 850 in 2023, raising USD 2.5 billion funding
- Gaming and animation industry employed 15,000 people generating Rs 5,000 crore revenue in FY23
- AI and ML firms in Pune cluster developed 200 products adopted by Fortune 500 companies in 2023
- Cloud computing services from AWS and Azure data centers in Navi Mumbai served 40% of India’s enterprises in 2023
- Cybersecurity firms in Maharashtra protected 60% of banking transactions worth Rs 1,200 lakh crore annually
- E-commerce logistics IT solutions from 300 firms handled 500 million orders in FY23
- Healthtech IT startups numbered 450, telemedicine consultations hit 10 million in 2023
- Edtech platforms based in Mumbai reached 20 million users with Rs 3,500 crore revenue in FY23
- AR/VR development firms produced content for 50 enterprise clients worth Rs 1,200 crore
- Blockchain startups in the state tokenized assets worth USD 1 billion in 2023 pilots
- Drone tech IT services mapped 2 million hectares for agriculture in Maharashtra in 2023
- Digital marketing agencies handled Rs 15,000 crore ad spends for 5,000 brands in FY23
- ERP software implementations by local firms covered 12,000 SMEs in 2023
- IoT solutions deployed in 5,000 factories monitoring 1 million devices real-time
- Robotic process automation saved Rs 8,000 crore for 200 enterprises in FY23
- Big data analytics firms processed 10 petabytes data for retail sector in 2023
- SaaS companies from Pune achieved USD 500 million ARR in 2023
- Contact centers operated 2.5 lakh seats handling 1 billion interactions annually
IT and Services Interpretation
Maharashtra's tech industry has not merely joined the digital economy but is actively building, powering, and securing it—from Pune's code campuses to Mumbai's financial algorithms, they are wiring the state to be the server rack, call center, and innovation lab of a nation.
Manufacturing
- In FY 2022-23, Maharashtra's manufacturing sector contributed Rs 12.45 lakh crore to the state's GSDP, representing 18.7% of the total GSDP
- Maharashtra hosts over 2.5 lakh registered manufacturing units, employing more than 45 lakh people as of 2023
- The state's index of industrial production (IIP) for manufacturing grew by 7.2% in 2022-23 compared to 4.8% national average
- Mumbai-Pune industrial corridor has 1,200 large-scale manufacturing plants producing engineering goods worth Rs 3 lakh crore annually
- In 2023, Maharashtra's manufacturing exports reached USD 45 billion, 14% of India's total manufacturing exports
- Aurangabad MIDC hosts 12,000 manufacturing units with a combined turnover of Rs 2.5 lakh crore in FY23
- Steel production in Maharashtra was 8.5 million tonnes in 2022, with JSW Steel contributing 4.2 MT from Dolvi plant
- The state has 45% of India's large-scale engineering manufacturing firms, generating Rs 4.8 lakh crore revenue in 2023
- Nashik's manufacturing cluster produced 15% of India's machine tools worth Rs 12,000 crore in FY22-23
- Maharashtra's cement industry capacity stands at 25 million tonnes per annum, with 18 plants operational in 2023
- Paper and pulp manufacturing output in Maharashtra reached 2.1 million tonnes in 2022-23, led by ITC and JP Paper
- The state accounts for 22% of India's rubber products manufacturing, with 850 units producing 4.5 lakh tonnes annually
- In FY23, electrical equipment manufacturing in Maharashtra generated Rs 1.2 lakh crore, with 20% export share
- Pune's Pimpri-Chinchwad industrial area has 5,500 manufacturing units employing 8 lakh workers as of 2023
- Maharashtra's glass manufacturing sector produced 1.8 million tonnes in 2022, 28% of national production
- Foundry industry in Maharashtra has 4,000 units casting 3 million tonnes of metal annually
- Plastic products manufacturing output was Rs 75,000 crore in FY23 from 15,000 units across the state
- Shipbuilding in Maharashtra, led by Mazagon Dock, delivered 12 warships valued at Rs 25,000 crore in 2022-23
- Bicycle manufacturing in Pune cluster produced 12 million units in 2023, 35% of India's total
- Defence manufacturing PSUs like Ordnance Factory Ambernath produced equipment worth Rs 5,000 crore in FY23
- Maharashtra's furniture manufacturing industry has 2,000 units with Rs 20,000 crore turnover in 2023
- Leather goods manufacturing from 1,200 units generated Rs 8,500 crore exports in FY22-23
- Toy manufacturing sector in Maharashtra produced 5 million units worth Rs 1,200 crore in 2023
- Gems and jewellery manufacturing hubs like Mumbai processed 25% of India's output valued at USD 30 billion in 2022
- Handloom and powerloom manufacturing produced 1,200 million meters of fabric in FY23
- Sports goods manufacturing from 500 units reached Rs 2,500 crore turnover in 2023
- Stationery and office supplies manufacturing output was Rs 4,000 crore from 800 units in 2022-23
- Paint manufacturing capacity in Maharashtra is 2.5 million KL per annum with 60% market share in west India
- Tile and ceramic manufacturing produced 450 million sqm in FY23 from Morbi-Maharashtra clusters
- Battery manufacturing sector, including Exide and Amaron, produced 15 million units worth Rs 18,000 crore in 2023
Manufacturing Interpretation
While Maharashtra’s manufacturing sector, with its armies of workers and forests of factories, marches forward at a pace that would leave the nation's average wheezing in the dust, it remains the economic engine that doesn't just hum but roars, producing everything from the mightiest steel to the smallest toy with a productive fervor that would make even a Mumbai monsoon seem understated.
Pharmaceuticals and Chemicals
- Maharashtra's pharma industry produced 35% of India's formulations worth Rs 2.8 lakh crore in FY23
- There are 4,500 pharma manufacturing units in the state, exporting USD 7.2 billion in 2022-23
- Aurangabad pharma cluster has 120 API producers with 25% national capacity in 2023
- Vaccine production from Serum Institute Pune reached 1.5 billion doses in 2023 globally
- Generic drugs manufacturing output was Rs 1.5 lakh crore, 40% of India's supply in FY23
- Biotech firms numbered 350, R&D spend Rs 12,000 crore in Maharashtra 2023
- Chemical industry capacity is 15 million tonnes for petrochemicals from JNPT clusters
- Specialty chemicals exports hit USD 4.5 billion from 800 units in FY23
- Biosimilars production reached 20 products approved by USFDA from local firms in 2023
- Fertilizer manufacturing plants produced 3.2 million tonnes urea equivalent in 2022-23
- Pesticides and agrochemicals output was 85,000 tonnes from 250 units in FY23
- Fine chemicals for pharma intermediates produced 2.5 lakh tonnes annually in 2023
- Medical devices manufacturing from 500 units reached Rs 8,000 crore turnover in FY23
- Nutraceuticals production was Rs 5,500 crore from 300 firms in 2023
- Active Pharmaceutical Ingredients (API) plants numbered 200 with 30% import substitution achieved
- Clinical trials conducted by CROs in Mumbai enrolled 50,000 patients in Phase III studies in 2023
- Drug formulation plants certified by WHO-GMP: 1,200 operational in the state as of 2023
- Bulk drug parks approved for 3 sites covering 1,800 acres for chemical manufacturing
- Herbal and ayurvedic formulations output Rs 12,000 crore from 400 units in FY23
- Polymer chemicals production reached 5 million tonnes from Reliance Jamnagar-Maharashtra links
- Paint and coatings chemicals manufactured 1.2 million tonnes by Asian Paints etc. in 2023
- Dyes and pigments output 1.5 lakh tonnes, 45% of India's production from Vapi-Maharashtra
Pharmaceuticals and Chemicals Interpretation
Maharashtra's industrial might can be distilled thus: from a single state's formidable blend of vaccines, generic pills, and complex chemicals flows a full third of India's pharmaceutical lifeblood and a significant share of its industrial sinew.
Textiles Food Processing and Others
- Textile industry in Maharashtra produced 1,200 million kg yarn in FY23, 18% of India total
- Ichalkaranji powerloom cluster wove 800 million meters fabric annually in 2023
- Food processing sector turnover Rs 2.5 lakh crore, processing 40% of state's agri produce
- Mumbai mills processed 25% of India's cotton ginning, 4 million bales in 2022-23
- Sugar factories: 220 operational crushing 45 million tonnes cane in FY23
- Fruit processing units produced 1.2 million tonnes juice/pulp from Alphonso mangoes
- Ready-made garments exports USD 2.8 billion from 5,000 units in FY23
- Dairy processing by Amul and others handled 50 lakh litres milk daily in 2023
- Poultry processing plants processed 1.5 million tonnes meat annually
- Spices processing output 2.5 lakh tonnes, 30% of India's packaged spices from Pune
- Handicrafts exports Rs 5,000 crore from 10,000 artisans in FY23
- Seafood processing from Ratnagiri: 3 lakh tonnes frozen shrimp in 2023
- Cashew processing units handled 1.2 lakh tonnes nuts annually
- Bakeries and confectionery turnover Rs 25,000 crore from 15,000 units
- Edible oil processing capacity 5 million tonnes pa from groundnut and soy
- Packaged drinking water plants: 2,500 units producing 10,000 million litres yearly
- Organic food processing firms certified: 400, output Rs 4,500 crore in FY23
- Jute and coir products manufacturing Rs 2,000 crore from 500 units
- Khadi and village industries produced Rs 8,500 crore worth goods in 2023
- Wine and alcohol processing from Nashik: 10 million cases bottled in FY23
Textiles Food Processing and Others Interpretation
Maharashtra isn't just an industrial state; it's India's wardrobe, pantry, and craft studio, masterfully spinning cotton into wealth, bottling sunshine into juice, and weaving everything from cashews to cocktails into a formidable economic fabric.
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