Maharashtra CM Devendra Fadnavis invites fresh investments; State to focus on faster clearances, competitive utilities and high-value chemical manufacturing
Mumbai: Maharashtra is set to introduce a dedicated Chemical Sector Policy by the end of October, while exploring the development of 2,500–5,000-acre chemical parks in Palghar, Raigad and Ratnagiri and planning a ₹1,000-crore Maharashtra Industries and Investment Fund to support R&D, technology readiness and innovation, senior state governmeent officials said at MahaChem 2026 in Mumbai.
The upcoming policy will further build on Maharashtra’s strong chemical manufacturing base and reinforce its position as a global hub for the sector, opening up new opportunities for investments across specialty chemicals, advanced materials, battery materials, electronic chemicals, advanced polymers, bioplastics and other high-value segments.
Dr. P. Anbalagan IAS, Principal Secretary Industries, Investment and Services Department, Government of Maharashtra, said at ASSOCHAM MahaChem 2026, 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.
“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,” Dr. Anbalagan said.
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.
Praveen Pardeshi IAS, Chief Economic Advisor to Chief Minister and Chief Executive Officer, Maharashtra Institution for Transformation (MITRA), said at ASSOCHAM MahaChem 2026, the chemical and pharmaceutical sectors would be critical to Maharashtra’s ambition of becoming a US$1 trillion economy, with competitiveness increasingly dependent on access to utilities, energy and water, as well as supportive policy reforms.
“Achieving this will require faster growth as well as an ecosystem that attracts greater private investment. 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.”
Devendra Fadnavis, Chief Minister, Government of Maharashtra, conveyed to ASSOCHAM that the state remains committed to attracting new investments into the sector and strengthening the business environment through faster clearances, policy incentives and the MAITRI single-window platform.
“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.”
The Chief Minister emphasised that the chemical and petrochemical sector is a primary engine of Maharashtra’s US$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.
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