Mumbai (Maharashtra) [India], September 9 (ANI): Maharashtra will introduce a dedicated Chemical Sector Policy by the end of October and is examining plans to develop chemical parks spread across 2,500 to 5,000 acres in Palghar, Raigad and Ratnagiri, a senior state government official said on Wednesday.
The state is also planning a Rs 1,000-crore Maharashtra Industries and Investment Fund to support research and development, technology readiness and innovation, according to an ASSOCHAM press release issued after MahaChem 2026 in Mumbai.
“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,” P Anbalagan, Principal Secretary, Industries, Investment and Services Department, Government of Maharashtra, said at the event.
Anbalagan said the state is examining Palghar, Raigad and Ratnagiri as possible locations for chemical parks ranging from 2,500 to 5,000 acres. Faster approvals and ease of doing business will also remain key priorities, while the proposed Rs 1,000-crore fund will support R&D, technology readiness and innovation.
Maharashtra Chief Minister Devendra Fadnavis also invited fresh investment into the sector and said the state would focus on faster clearances and policy support.
“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,” Fadnavis said, according to the ASSOCHAM release.
Praveen Pardeshi, Chief Economic Advisor to the Maharashtra Chief Minister and Chief Executive Officer of Maharashtra Institution for Transformation (MITRA), said the chemical and pharmaceutical sectors would be important to the state’s ambition of becoming a USD 1 trillion economy.
“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,” Pardeshi said.
According to the ASSOCHAM-EY report titled “Maharashtra: Fuelling India’s Trillion-Dollar Chemical Vision”, released at MahaChem 2026, Maharashtra’s chemical sector is valued at around USD 22 billion and has more than 3,600 factories and 13 designated chemical zones.
The report said the state accounts for around 19 per cent of India’s chemical sector gross value added and 17 per cent of the country’s chemical exports. It also identified opportunities in specialty chemicals, battery materials, electronic chemicals, advanced polymers, bioplastics and other high-value segments. (ANI)