Maharashtra Plans 5,000-Acre Chemical Parks, ₹1,000-Crore Innovation Fund Proposed
· Free Press Journal
Mumbai: Maharashtra will unveil a dedicated Chemical Sector Policy by the end of October, alongside plans for large chemical parks and a Rs 1,000-crore innovation fund, senior state officials said at ASSOCHAM MahaChem 2026 in Mumbai.
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The proposed framework will encourage investments in specialty chemicals, advanced materials, battery materials, electronic chemicals, advanced polymers, bioplastics and other high-value segments.
New Chemical Manufacturing Hubs
P Anbalagan, Principal Secretary, Industries, Investment and Services Department, said the government was examining Palghar, Raigad and Ratnagiri for developing chemical parks spanning between 2,500 and 5,000 acres.
The policy will address the industry’s specific requirements while complementing initiatives covering biotechnology, biomanufacturing, bioplastics and other emerging fields.
Faster approvals and ease of doing business will remain central to the state’s strategy. The proposed Maharashtra Industries and Investment Fund, with a corpus of Rs 1,000 crore, will support research and development, technology readiness and innovation.
Fadnavis Invites Fresh Investment
Chief Minister Devendra Fadnavis invited companies to establish their next major ventures in Maharashtra, promising faster clearances, policy incentives and assistance through the MAITRI single-window platform.
He described chemicals and petrochemicals as primary engines of Maharashtra’s ambition to become a USD 1 trillion economy. The government would extend financial, logistical and administrative assistance to promote sustainable, innovation-led industrialisation, he added.
Maharashtra Approves Revised 5% Sports Quota Policy, Mandates Digital Verification Of CertificatesPraveen Pardeshi, Maharashtra’s Chief Economic Adviser and MITRA chief executive, said competitive utility costs, flexible energy access, sustainable water management and supportive reforms would determine the sector’s future competitiveness.
Maharashtra’s USD 22-Billion Opportunity
An ASSOCHAM-EY report released at the conclave valued Maharashtra’s chemical sector at nearly USD 22 billion. The state has more than 3,600 factories and 13 designated chemical zones.
UP To Introduce Student Mental Health Policy Across Colleges, Universities With Counselling Support SystemThe industry contributes approximately 19 percent of India’s chemical-sector gross value added and 17 percent of chemical exports. It represents 13.5 percent of Maharashtra’s industrial output and employs around three lakh people.
The report identified opportunities in specialty coatings, pharmaceutical and agrochemical intermediates, green chemistry, battery materials and electronic chemicals. Industry leaders called for stronger coordination among policymakers, manufacturers, investors, researchers and start-ups to help Maharashtra move beyond capacity expansion and secure a larger share of global high-value chemical manufacturing.