The Global IT Industry is estimated at USD 5 trillion in 2021. The industry has seen rapid growth in the recent few years further accelerated by COVID-19. Most of the global IT industry is focused in and around USA (32%); followed by the European Union (20%), the Asian region (14%), and Australia and New Zealand region (11%).
As per the ‘Techade 2020’ by NASSCOM, India’s IT & ITeS industry revenues stood at USD 177 billion in 2018-19 with a growth rate of 6.1%. Despite a dip in global technology spending amid the coronavirus pandemic, the country's IT sector is set to post a 2.3% rise in revenues taking the current figure to USD 194 billion. The same report states that, the IT industry now delivers 8% of Indian GDP, contributes to over half of services exports, 50% of the Foreign Direct Investment (FDI) and employs more than 4.3 million people in 2020-21. Government of India targets to build India as a USD 1 trillion digital economy by 2025, reports MeitY, Invest India.
Maharashtra is a major hub of technology & innovation. Since 1990s, the state has emerged as a key hub for IT &ITES, electronics, and captive business outsourcing industries, thus developing competitive edge in domestic and global arenas. Through constant enhancement of infrastructure, talent, and policy ecosystem the state has become a leading destination for IT companies, with businesses proliferating beyond Mumbai, Pune, Thane to districts like Raigad, Nagpur, Aurangabad, Nasik, and Kolhapur. The ecosystem advantages described below will continue to act as a springboard for growth in the coming years.
The Government has set the following targets for the Policy Period
To make Maharashtra a global IT &ITES destination and the Technology capital of India, moving towards innovative, equitable, inclusive and sustainable Technology Development.
To ensure Maharashtra as the most preferred destination for investment and innovation among global IT&ITES enterprises through Strategic Policy Interventions, Development of Competitive Advantage and Enabling Business Environment.
With increasing globalization, the impetus is on setting up and running manufacturing facilities which are cost competitive. India with its factor endowments, availability of skilled labour and developing infrastructure, has constantly improved its attractiveness as a global manufacturing destination. In view of this development, Government of India has set an ambitious target of increasing India‟s manufacturing sector share to 28 per cent of GDP by 20221 from the existing share of 16 per cent (2009-10).
The Industrial Policy, 2013 focuses on the following:
“Maharashtra - a globally competitive manufacturing destination that promotes faster sustainable investment and inclusive growth”.
To place Maharashtra amongst the most preferred investment destinations in Asia, for global investors, through aggressive promotional strategies combined with developing a globally competitive and sustainable investment environment, thereby making Maharashtra as one of the most favoured economic magnets and centres of unlimited attractions.
The objectives of the Industrial Policy, 2013 are:
Policy Targets:
One of the great opportunities in this age of “Century of Knowledge” is the emergence of knowledge based IT industries and another emerging opportunities on the horizon is Biotechnology. Biotechnology has the potential to transform the lives of the people in the state by impacting hugely on agriculture, animal husbandry, health, environment protection and material transformation. It is to realize this potential that the state has already announced Biotechnology Policy-2001.
Strategic Initiatives:
To attract foreign direct investment, promote export and generate employment in the country, the State Government has announced a policy for setting up Special Economic Zone, vide G.R. dated 12.10.2001 and subsequently, Central Government has enacted SEZ Act, 2005
Definition of 'Special Economic Zone - SEZ'
Basic Objective for Establishing Special Economic Zone (SEZ)
Who can set up SEZs?
New Textile Policy, 2011-17 lays emphasis on raising processing units at various levels from cotton to manufacturing textiles for the assured long term development on priority basis in the cotton producing sector, expansion of the textile industry and growth of employment in the State.
This package scheme of Incentives dt.30th March 2007 outlines the various incentives available in the state. This is operative from 1st April 2007 to 31st March 2011.
This policy aims to promote the orderly growth of the Grapes Processing Industry in the State
