Viewpoint: Maharashtra's Economy

23 SEP,2019 | MEDC


 

In several key socioeconomic areas, Maharashtra has been the torchbearer of the country. Initiatives like Make in India and Magnetic Maharashtra have given a strategic impulse to the development prospects of the state. On the flip side, the all-important agricultural sector could do with some more attention. Both floods and droughts continue to ravage the state and disrupt the livelihoods of millions. Maharashtra also has the largest number of MSMEs in the country and they face issues regarding GST, infrastructure and land costs. However, this should not detract from Maharashtra’s achievements. Much emphasis is laid on cluster development, with over 4000 units related to the automobile sectors developed as clusters in the Pimpri-Chinchwad region of Pune. The maximum number of start-ups have been registered from Maharashtra. Special concessions are given to women entrepreneurs to start new business ventures. There is every reason to believe that Maharashtra can become a trillion dollar economy (possibly India’s first) in the coming five years. There is a stable and progressive government in the state which needs to take some more proactive measures to promote Maharashtra’s image as India’s leading industrial destination.

*Photo Credit: Google

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