On Wednesday, the Maharashtra cabinet granted approval to the state’s inaugural export incentive policy, with the goal of attracting investments totaling Rs 25,000 crores. Maharashtra aspires to capture a 22% share of India’s ambitious $1 trillion export target by 2030.
The policy’s objectives include doubling the current export value of the state from $72 billion to $150 billion and initiating 30 export infrastructure projects over the next five years. This policy will remain in effect until 2027-28 and is expected to benefit 5,000 MSMEs, in addition to larger projects, creating 40,000 job opportunities, as per government assertions.
Under this policy, the government will offer financial support of up to Rs 50 crore for export-oriented specific projects and Rs 100 crore for export-oriented industrial parks. Furthermore, the policy will promote the transformation of districts into export hubs by augmenting the export contributions of each district, thereby addressing regional disparities.