Industrial Overview

Maharashtra has the best financial infrastructure in the country. Almost all major banks and financial institutions, both national and foreign, have a business presence in the state. Mumbai is the hub of the country's financial services sector. The Reserve Bank of India, India's central bank, and the State Bank of India, the country's largest commercial bank, are head-quartered in Mumbai. In the financial services sector, virtually all the foreign entrants have selected Mumbai as their centre of Indian operations. These include Merrill Lynch, Goldman Sachs, Morgan Stanley, UBS Securities, SBC Warburg, BZW and the Jardine Fleming Group.

Commercial banks 

The banking network spans all of Maharashtra and reaches even remote rural areas. As of June 1997, there were 5,982 branches of commercial banks operating in Maharashtra. This does not include branches of private banks and co-operative banking and thrift institutions. The key international banks operating in cities like Mumbai include Citibank, American Express Bank, Deutsche Bank, Standard Chartered Bank, Hongkong & Shanghai Bank, ING Bank, ABN Amro Bank, Bank of America, Chase Manhattan Bank, Credit Lyonnais and Japanese banking majors such as Fuji Bank and Sakura Bank.

Investment banks

The two largest domestic investment banks in India (owned partially by the government of India), the Industrial Credit and Investment Corporation of India and the Industrial Development Bank of India are head-quartered in Mumbai. These institutions not only provide project funding, but also a range of project advisory services, from conception and definition to implementation. These institutions have been often hailed as the financial backbone of Indian industry and play an important role in the national economy. The state Government-owned Maharashtra State Finance Corporation provides loans and financial assistance for small and medium size projects. For larger projects, the state government participates through SICOM Limited, an autonomous organisation engaged in project advisory services, jointly owned by the government and development financial institutions. This agency also provides training and advisory facilities to would-be and first-time entrepreneurs.

Capital Market

An essential prerequisite to industrial development and growth is the existence of a sound capital market. Maharashtra's stock exchanges are: Bombay Stock Exchange, Over the Counter Exchange and Pune Stock Exchange.

Bombay Stock Exchange (BSE)

BSE is the largest stock exchange in the country, with a market capitalisation of approximately Rs.4 558 billion (US$ 127.75 billion) as of October 1996, which makes it one of the largest stock exchanges among the emerging economies of the world, with over 5,969 companies worldwide listed on the exchange. BSE was the first Indian bourse to replace the open outcry mode of trading, with screen-based on-line systems.

Over The Counter Exchange of India (OTCEI)

OTCEI has been promoted by leading financial institutions of India. It was established with the objective of providing a window to small companies (which would have otherwise lacked resources) to approach the large capital markets for funds to meet capital requirements. Established on similar lines as the NASDAQ in USA, OTCEI was the first stock exchange to set up a computerised screen-based trading system in India. It introduced concepts like market making and bought out deals to the Indian stock markets. Corporates with an issued capital between Rs.3 million and Rs.250 million can be listed on OTCEI.

Help for entrepreneurs and local industries

Every district has a District Industries Centre (DIC), run by the state's industries department. It is the first place to go to register a unit, to apply for the state's incentives and subsidies, and for help with central schemes such as PMEGP.

From the Maharashtra government

• Directorate of Industries, Maharashtra: the state's package of incentives, MSME schemes and the District Industries Centres
• Chief Minister's Employment Generation Programme (CMEGP): bank loans with a state subsidy of 15 to 35 per cent of the project cost to start a new enterprise
• MAITRI: the state's single-window portal for investors' approvals
• Maharashtra Industrial Development Corporation (MIDC): industrial areas and plots across the state
• Maharashtra State Innovation Society: the state's startup policy, grants and incubators
• Maharashtra Centre for Entrepreneurship Development (MCED): training for new entrepreneurs

From the Government of India

• Udyam Registration: free online registration for micro, small and medium enterprises, with an Aadhaar number; the Udyam certificate is needed for most MSME schemes and for priority-sector bank loans
• Prime Minister's Employment Generation Programme (PMEGP): loans to start a new micro enterprise, with a government subsidy of 15 to 35 per cent of the project cost (higher in rural areas and for women, SC/ST and other special categories); apply through the District Industries Centre or the Khadi and Village Industries Commission
• Pradhan Mantri MUDRA Yojana: loans without collateral from banks, small finance banks and microfinance institutions: Shishu up to Rs 50,000, Kishor up to Rs 5 lakh, Tarun up to Rs 10 lakh, and Tarun Plus up to Rs 20 lakh for those who have repaid a Tarun loan
• Stand-Up India: bank loans of Rs 10 lakh to Rs 1 crore to set up a new enterprise, for women and for Scheduled Caste and Scheduled Tribe entrepreneurs
• Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): guarantees bank loans to micro and small enterprises, so they can borrow without collateral or a third-party guarantee
• Startup India: recognition by the Department for Promotion of Industry and Internal Trade, which brings tax and patent benefits, the Startup India Seed Fund and mentoring
• PM Vishwakarma: for artisans and craftspeople in 18 traditional trades: recognition, skill training with a stipend, a toolkit grant and low-interest loans without collateral
• PM Formalisation of Micro Food Processing Enterprises (PMFME): for small food-processing units: a 35 per cent credit-linked subsidy (up to Rs 10 lakh a unit), seed capital for self-help groups, and help with branding and marketing
• Government e-Marketplace (GeM): sell goods and services online to government departments and public sector companies
• MSME Samadhaan: file a case when a buyer has not paid a micro or small enterprise within 45 days
• MSME Champions: the Ministry of MSME's help desk for complaints and problems with finance, approvals and markets
• MSME Development and Facilitation Offices: the Ministry of MSME's offices in every state: advice, training, testing and the ministry's schemes
• Small Industries Development Bank of India (SIDBI): the bank for small industries: loans, and refinance through other lenders
• National Single Window System: one place to apply for central approvals and licences, and for many states' approvals
• One District One Product: promotes a chosen product of each district, with help to find buyers and export
• NIESBUD: the national institute for entrepreneurship training, under the Ministry of Skill Development and Entrepreneurship
• myScheme: search central and state government schemes by state, occupation and other details

Schemes, limits and subsidies change with each budget: check the official site before applying.

Sources

Specialties: Nashik grapes and wine (Geographical Indication: Nashik Grapes, Nashik Valley Wine); Alphonso mango (Geographical Indication: Alphonso).

• Geographical Indications registered in India, state by state: Geographical Indications Registry, as on 31 December 2025 (PDF)
• One District One Product: each district's chosen products