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Indian Subcontinent >> India >> Maharashtra >> Economy of Maharashtra

Economy of Maharashtra

Maharashtra is a highly industrialised state, one, which has less than ten percent of the total Indian population but generates nearly one-fourth of the gross value of the Indian industrial sector. It accounts for nearly 40 % of the total tax collections in the country, 14.7% of India’s gross domestic product and 15.1 % of the national income. Mumbai is a major business, commercial and industrial centre, with the headquarters of many national conglomerates and international corporations and banks located here. The Bombay Stock Exchange (BSE) is the premier stock exchange in the country and its sensex is considered to be a valid indication of the financial health and investment trends, not only in the city but also for the entire country.

Mumbai is also Maharashtra’s (and India’s) leading port; it also handles much of the import and export traffic of the country. Mumbai is also famous as the home of Hindi film industry, popularly called Bollywood, a major industry that adds glamour and glitz as well as provides employment and generates megabucks. Pharmaceuticals, Petrochemicals, heavy chemicals, electronics, automobiles, engineering, food processing and plastics are the other major industries in the state. Manufacturing industries are centered in Mumbai and in cities like Nagpur, Nasik, Aurangabad, Sholapur and Kolhapur. Textiles have long been important industry in the state that now is being recognized as the premier centre for electronics. The main crops grown in Maharashtra are sugar cane, cotton, peanuts, tobacco and pulses.

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