In a bid to become a hub for advanced manufacturing and future-ready technologies, Maharashtra government has approved ₹1.20 lakh crore in investments during the latest cabinet sub-committee meeting, Devendra Fadnavis, Deputy Chief Minister of Maharashtra wrote on X. The investments cover sectors like semiconductors, electric vehicles (EVs), and hybrid technology.
In one of the most substantial investments, Tower Semiconductor, in collaboration with the Adani Group, will establish a semiconductor manufacturing facility at Taloja MIDC in Panvel.
This project is valued at ₹83,947 crore (approximately 10 billion USD), Fadnavis wrote. The investment will be executed in two phases: Phase 1 with ₹58,763 crore with a production capacity of 40,000 wafers per month, while phase 2 will see an outlay of ₹25,184 crore for scaling up production to 80,000 wafers per month. This will be used for analog/mixed signals and semiconductor manufacturing and is expected to generate over 5,000 jobs, strengthening India’s position in the global semiconductor supply chain.
Skoda Auto Volkswagen India, too, has earmarked a ₹15,000 crore investment to ramp up EV and hybrid car manufacturing at its Chakan facility in Pune. With a focus on sustainable mobility, this investment will accelerate the company’s push into India’s growing electric vehicle market. According to Fadnavis, the new expansion is expected to create over 1,000 jobs, positioning Pune as a key player in the future of automobile innovation in the country.
Toyota Kirloskar has also committed an investment of ₹21,273 crore at the AURIC industrial city in Chhatrapati Sambhajinagar. The company plans to manufacture hybrid vehicles, plug-in hybrids, fuel cell EVs, and battery electric vehicles (BEVs). This move, Fadnavis mentioned, will generate more than 8,800 new jobs in the region.
As the country’s most industrialized state, Maharashtra contributes significantly to the national GDP. Mumbai, its capital, is India’s financial hub and home to major corporations and the stock exchange.
The state boasts a diverse industrial base, including manufacturing, IT, textiles, and pharmaceuticals. With well-developed infrastructure, skilled workforce, and strategic location, Maharashtra attracts substantial domestic and foreign investment. Its industrial policies and special economic zones further cement its position as a crucial driver of India’s economic growth.