State clears industrial policy, sets $1-trillion goal for 2030

Maharashtra's new II&S Policy 2025 aims for a trillion-dollar economy by 2030, attracting ₹70.5 lakh crore investment and creating 50 lakh jobs.

NAGPUR: The state cabinet on Thursday cleared its ambitious Industries, Investment & Services (II&S) Policy 2025, outlining a roadmap to become India’s first trillion-dollar state economy by 2030. The policy aims to attract investment amounting to ₹70.5 lakh crore and create 50 lakh jobs by 2030, with a thrust on manufacturing, a sector expected to grow at 15%, and services, which would grow at 12-13%.

State clears industrial policy, sets $1-trillion goal for 2030

A new, unified investment promotion body, Invest Maharashtra, with a ₹3,000-crore outlay, will lead investor facilitation, while the state industries department has also been reorganised into the industries, investment & services department with dedicated MSME and Services Commissionerates.

To boost infrastructure, the state will set up over 20 smart industrial townships and 5,000-acre Ultra Mega Parks, while industrial corridors and multimodal networks will enhance connectivity, according to the policy. A GIS-enabled land bank and incentives for private industrial parks will aim to push Maharashtra into Asia’s top three industrial hubs, as part of the new policy.

The policy has also earmarked the Emerging Districts Initiative – 27 districts across Zone 1 and Zone 2 will receive targeted incentives, including ₹1-per-acre land for Fortune 500 and billion-dollar companies. The state plans to establish more than 650 industrial projects in these regions.