Maharashtra’s Government plans to grow the number of startups to 50,000 soon, said Uday Samant, Minister for Industries, at an ASSOCHAM event. Currently, Maharashtra has 8,300 startups, making it the top state for startups in India.
Samant emphasized the importance of monitoring startups to ensure they remain operational. He highlighted that the state gives top-tier treatment to all companies, from small to large corporates, which helps attract foreign investment.
Rajendra Nimbalkar of the Maharashtra Small Scale Industries Development Corporation (MSSIDC) mentioned a strategic investment plan of over ₹730 crore to support MSMEs. The government approved ₹212.5 crore under the RAMP program, matched by the state, totaling around ₹425 crore for the next 3-4 years. This will fund subsidized spaces, online marketing, and business centers.
Industry leader Anurag Agrawal noted the manufacturing sector’s vital role in India’s economy, contributing 17% of GDP. He stated that India aims to become a global manufacturing hub, targeting $1 trillion in manufacturing output by 2025-26.
Shantanu Bhadkamkar of ASSOCHAM highlighted the importance of small and medium enterprises (SMEs) for technological development, drawing parallels to Germany and Italy’s strong SME sectors.
Umesh Kamble, Co-Chair of ASSOCHAM’s Maharashtra State Development Council, concluded by saying that innovation and finance will be key to achieving Maharashtra’s goal of a $1 trillion economy, with the MSME sector playing a crucial role.