Maharashtra Unveils Strategic Plans to Revolutionize Chemical Sector by October's End

Maharashtra is set to introduce a Chemical Sector Policy by October and plans to establish chemical parks across Palghar, Raigad, and Ratnagiri. With a Rs 1,000-crore fund for R&D, the state focuses on boosting investment and economic growth in the chemical and pharmaceutical sectors.

Maharashtra is gearing up to introduce its first dedicated Chemical Sector Policy by the end of October, as it seeks to accelerate growth and investment in the chemical industry. Development plans include chemical parks spread across 2,500 to 5,000 acres, targeting regions like Palghar, Raigad, and Ratnagiri, a senior state official disclosed on Wednesday.

Principal Secretary for Industries, Investment, and Services, P Anbalagan, outlined that the forthcoming policy aims to cater to the distinct needs of the chemical sector and will work in tandem with initiatives spanning bioplastics, biotechnology, and other emerging areas. Furthermore, a Rs 1,000-crore Maharashtra Industries and Investment Fund is in the pipeline to bolster research, development, and innovation.

Maharashtra Chief Minister Devendra Fadnavis has extended an invitation to investors, emphasizing the state's commitment to providing a pro-business environment through enhanced policy support and streamlined processes. The strategic focus on the chemical and pharmaceutical sectors is seen as crucial to Maharashtra's vision of becoming a USD 1 trillion economy, fostering competitive utility costs, flexible energy access, and sustainable water management.