Maharashtra Approves ₹89,731 Crore Mega Investment Boost

Mumbai, May 2026 : Maharashtra Chief Minister Devendra Fadnavis on Monday approved special incentives for five large and ultra-mega industrial projects worth a total investment of around ₹89,731 crore, aimed at boosting industrial growth, employment generation and the development of a modern industrial ecosystem in the state.

The decision was taken during a meeting of the Industries Department Cabinet Sub-Committee chaired by the Chief Minister. According to the government, these projects are expected to generate nearly 20,000 direct and indirect jobs, while significantly accelerating industrial development across regions such as Vidarbha, Marathwada and Nashik, along with other parts of the state.

Under the state’s industrial policy, industries are provided various incentives through the Group Promotion Scheme. To attract large-scale investments, promote job creation and build strong industrial infrastructure, a special Cabinet Sub-Committee has been constituted under the chairmanship of the Chief Minister to approve incentives for mega and ultra-mega projects.

The meeting was held at Mantralaya and attended by Deputy Chief Minister Eknath Shinde, Deputy Chief Minister Ajit Pawar, Industries Minister Dr. Uday Samant, Chief Secretary Rajesh Aggarwal, Industries Principal Secretary Dr. P. Anbalagan, and MIDC CEO P. Velarasu, along with senior officials.

During the meeting, Chief Minister Fadnavis approved incentives for five high-technology and future-focused industrial projects in sectors such as coal gasification and downstream derivatives, solar cell modules, ignot and wafer panels, electric steel, pet tyre cord, and synthetic graphite anode material. These sectors are considered critical for advanced manufacturing and next-generation industrial development.

The government stated that these projects will not only bring large-scale investments and job opportunities but will also help develop supporting industries and strengthen supply chain ecosystems at the local level. The expansion of such industries is expected to promote innovation, research and development activities, while also creating new opportunities for micro, small and medium enterprises (MSMEs).

Officials said the initiative will also contribute to skill development and training opportunities for local youth, enhancing their employability in emerging technology-driven sectors. By encouraging advanced manufacturing industries, the state aims to position itself as a leading hub for high-tech industrial production in India.

The government believes that the approved projects will play a crucial role in transforming Maharashtra’s industrial landscape, driving economic growth, and ensuring balanced regional development through large-scale private sector investment.