Economy
| Year | Gross Domestic Product (millions of  ) |
|---|---|
| 1980 | 166,310 |
| 1985 | 296,160 |
| 1990 | 664,330 |
| 1995 | 1,578,180 |
| 2000 | 2,386,720 |
| 2005 | 3,759,150[11] |
Main article: Economy of Maharashtra
See also: List of conglomerates in Maharashtra
Favourable economic policies in the 1970s led to Maharashtra becoming India's leading industrial state in the last quarter of 20th century. Over 41% of the S&P CNX 500 conglomerates have corporate offices in Maharashtra. However, regions within Maharashtra show wide disparity in development. Mumbai, Pune, Nasik, Aurangabad and western Maharashtra are the most developed. These areas also dominate the politics and bureaucracy of the state. This has led to resentment among less developed regions like Vidarbha, Marathwada, Konkan and Khandesh .
Maharashtra's gross state domestic product for 2008 is forecast to be at 673,700 crore (US$150.24 billion) at current market prices. The state's debt was estimated at 36 per cent of GDP in 2005.[12]
673,700 crore (US$150.24 billion) at current market prices. The state's debt was estimated at 36 per cent of GDP in 2005.[12]In 2007 Maharashtra reported a revenue surplus of 810 crore (US$180.63 million).[13]Maharashtra is the second most urbanised state with urban population of 42% of whole population.
810 crore (US$180.63 million).[13]Maharashtra is the second most urbanised state with urban population of 42% of whole population.Maharashtra is India's leading industrial state contributing 15% of national industrial output and over 40% of India's national revenue.[14] 64.14% of the people are employed in agricultureand allied activities. Almost 46% of the GSDP is contributed by industry. Major industries in Maharashtra include chemical and allied products, electrical and non-electrical machinery, textiles, petroleum and allied products. Other important industries include metal products,wine, jewellery, pharmaceuticals, engineering goods, machine tools, steel and iron castings and plastic wares. Food crops include mangoes, grapes, bananas, oranges, wheat, rice,jowar, bajra, and pulses. Cash crops include groundnut, cotton, sugarcane, turmeric, and tobacco. The net irrigated area totals 33,500 square kilometres.
Mumbai, the capital of Maharashtra and the financial capital of India, houses the headquarters of all major banks, financial institutions, insurance companies in India. India's largest stock exchange Bombay Stock Exchange, the oldest in Asia, is also located in the city. After successes in the information technology in the neighboring states, Maharashtra has set up software parks in Pune, Mumbai, Navi Mumbai, Aurangabad, Nagpur and Nashik, Now Maharashtra is the second largest exporter of software with annual exports of 18,000 crore (US$4.01 billion) and accounts for more than 30 per cent of the country's software exports, with over 1,200 software units based in the state.[15] Jawaharlal Nehru Port Trust in Navi Mumbai is the busiest port in India. Chhatrapati Shivaji International Airport inMumbai is the busiest airport in South Asia as per passenger volume.[16]
18,000 crore (US$4.01 billion) and accounts for more than 30 per cent of the country's software exports, with over 1,200 software units based in the state.[15] Jawaharlal Nehru Port Trust in Navi Mumbai is the busiest port in India. Chhatrapati Shivaji International Airport inMumbai is the busiest airport in South Asia as per passenger volume.[16]The coast of Maharashtra has been a shipbuilding center for many centuries. The expertise and the manpower available in the local area make this business more attractive.This is reflected by the number of companies operating shipyards in the state such as Bharati Shipyard at Ratnagiri and the upcoming Rajapur Shipyards at Rajapur, apart from the state owned Mazagon Dock Limited at Mumbai.
Mumbai is the home for the world's largest film industry- Bollywood, Hindi filmmaking industry. Maharashtra ranks first nationwide in coal-based thermal electricity as well as nuclear electricity generation with national market shares of over 13% and 17% respectively. Maharashtra is also introducing Jatropha cultivation and has started a project for the identification of suitable sites for Jatropha plantations.[17]
Ralegan Siddhi is a village in Ahmednagar District that is considered a model of environmental conservation.[18]
An international cargo hub (Multi-modal International Cargo Hub and Airport at Nagpur, MIHAN) is being developed at Nagpur.[19][20]MIHAN will be used for handling heavy cargo coming from South-East Asia and Middle-East Asia. Project will also include 10,000 crore (US$2.23 billion) Special Economic Zone (SEZ)[21] for Information Technology (IT) companies. This will be the biggest development project in India so far.[22]
10,000 crore (US$2.23 billion) Special Economic Zone (SEZ)[21] for Information Technology (IT) companies. This will be the biggest development project in India so far.[22]Prominent Indian and foreign automobile makers such as Tata Motors, Mahindra & Mahindra, Mercedes-Benz, Audi, Skoda Auto, Fiatand Volkswagen are also either based in or have a manufacturing presence in Maharashtra.
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