Delphine Estibeiro –
At a recent Fireside Chat featuring Dr Rajesh Gawande, IFS, and moderated by Dr Prasad Pradhaan, PhD, Global banking & GCC veteran, Enterprise Risk & Resiliency Leader, ex Hon Advisory Director – PMO India the spotlight was firmly on Maharashtra’s evolving investment ecosystem and its role as a global partner in trade and technology.
Dr Gawande emphasized that India’s transformation is not a sudden change but an ongoing process of becoming a reliable partner in global supply chains, technology development, and responses to challenges such as protectionism, terrorism, and environmental sustainability. Maharashtra, he noted, is uniquely positioned to lead this charge.
With a GDP of $600 billion, contributing 15% of India’s national GDP and attracting up to 40% of national FDI, Maharashtra would rank as the 20th largest economy globally if it were a country. This scale, combined with its strong infrastructure and skilled workforce, makes the state a natural magnet for international investors.
Dr Gawande highlighted the Production Linked Incentive scheme, identifying 14 priority sectors including semiconductors, specialty chemicals, electronics, AI, and agriculture. These align with the vision of Viksit Bharat 2047 and Viksit Maharashtra, positioning the state as a hub for advanced industries.
International engagement has accelerated, with visits from leaders of the UK, France, Canada, Cyprus, Vietnam, Japan, and Belgium. “The world increasingly understands that the route to engaging economically with India runs through Mumbai and Maharashtra,” Dr. Gawande remarked.
The state’s focus on ease of doing business was exemplified by the John Cockerill MOU, executed in just 76 working hours. This partnership introduces green steel technology, helping Maharashtra’s exports remain competitive in Europe despite carbon adjustment taxes.
Dr Gawande credited the Chief Minister’s leadership for driving expedited clearances and positioning Maharashtra as a state where speed, stability, and reliability define investment processes.
The discussion also underscored the role of the diaspora and Chambers of Commerce in building resilient corridors of trade and investment. Dr. Gawande described the diaspora as an “underappreciated asset,” noting their potential to contribute not only economically but also culturally and socially to Maharashtra’s growth story.
For the shipping and trade community, Maharashtra’s message is clear: it is not just an investment destination but a strategic partner. With its ports, logistics corridors, and advanced industrial ambitions, the state is charting a course that blends traditional strengths with futuristic aspirations — making it a pivotal player in India’s global trade narrative.
Marex Media