Maharashtra Industries, Investment and Services Policy 2025
₹70.5 L Cr
Investment Target Over The Policy Period
~50 L Jobs
Direct Jobs Targeted In Manufacturing And Services
13.8% → 20%
Manufacturing Share Of Economy, FY25 To 2047
5 Years
Validity: 31 Dec 2025 To 30 Dec 2030, Or Until Replaced
Vision, Investment Target and Validity
Source: This page decodes a Grant Thornton Bharat summary deck titled “Maharashtra Industries, Investment and Services Policy 2025”, dated January 2026, which is itself an interpreted professional summary of the policy and not the Government Resolution. Every figure, cap, threshold, zone rate and period on this page is reproduced from a secondary summary and has not been certified against the notified Government Resolution.
Read this before anything else — source status. This page is built from a GT summary deck. Do not file, compute an eligibility figure, or publish any number from this page without tracing it to the original notification of the Industries, Energy, Labour and Mining Department. Where this page repeats a figure, it is reproducing what the deck states.
Maharashtra's replacement for the earlier Industrial Policy is aimed at making the State a global investment hub through the ‘Invest Maharashtra’ single-window platform. It sets an investment target and a manufacturing-share ambition, classifies units from micro to ultra-mega, and offers a zone-graded package that deepens as you move from developed Group A talukas out to no-industry, aspirational and Naxalism-affected districts.
Policy Vision and Objectives
- •Make Maharashtra a trusted global hub for investment.
- •Deliver a ‘Invest Maharashtra’ unified digital platform offering a single-window experience.
- •Boost the manufacturing contribution from 13.8% (FY25) to 20% by 2047.
- •Create close to 50 lakh direct jobs in manufacturing and services across the policy period.
- •Investment target of ₹70.5 lakh crore.
Eligibility and Validity
- •Eligible units span micro, small, medium, large, special large, mega and ultra mega.
- •Valid for five years from the date of notification or until replaced — stated as 31 December 2025 to 30 December 2030.
The overall ceiling that governs everything below. The deck states that incentives to an industrial unit from all departments shall be admissible within 100% of Fixed Capital Investment (FCI), and elsewhere references an overall cap of 120% of FCI where the ODOP top-up applies. Captive power plant investment is excluded from evaluating eligibility criteria. For subsidy calculation, investment is considered only to the extent of 20% for plant and machinery and equipment — treat this 20% line as ambiguous until read against the GR.
Industry Classification for Manufacturing Units
Seven classes, set by investment in plant and machinery — and by zone.
| Class | Threshold (as stated in the deck) |
|---|---|
| Micro enterprise | Does not exceed ₹2.5 crore |
| Small enterprise | Between ₹2.5 crore and ₹25 crore |
| Medium enterprise | Between ₹25 crore and ₹125 crore |
| Special LSI | Minimum capital investment ranging from ₹150 crore to ₹750 crore depending on zone, or minimum direct employment from 125 to 1,000 people based on zone |
| LSI | Fixed capital investment above ₹125 crore but below the Special LSI threshold |
| Mega project | Minimum fixed capital investment of ₹200 crore to ₹1,500 crore, or employment of 350 to 2,000 people, based on zone |
| Ultra-mega project | Minimum investment of ₹750 crore to ₹4,000 crore, or employment of 750 to 4,000 people, based on zone |
The thresholds are zone-dependent, and the zone table is not on the summary. Notice that Special LSI, mega and ultra-mega are each defined as a range. A project of a given size can therefore be Special LSI in one zone and only LSI in another. The summary does not reproduce the taluka-to-zone classification, which must come from the GR. Note also that the Maharashtra MSME thresholds here (₹2.5 cr / ₹25 cr / ₹125 cr) are the State policy's own classification for this scheme; they are not the MSMED Act, 2006 definitions.
Cross-cutting Rules for Classification and Subsidy
- •Mega and ultra-mega projects receive customised incentives — not the tabulated caps.
- •Projects qualifying on employment criteria must sustain the required employment level throughout the year.
- •Incentives from all departments are admissible within 100% of FCI.
- •Captive power plant investment is excluded from eligibility evaluation.
- •For subsidy calculation, investment is considered only to the extent of 20% for plant, machinery and equipment.
Zone-wise Incentive Caps and Periods
Incentive cap is expressed as a percentage of Fixed Capital Investment; the period is the number of years over which it may be drawn. The gradient is the core design of the policy: developed Group A and B talukas get the least, and no-industry, Naxalism-affected and aspirational districts get 100%.
| Taluka / Zone | MSME Cap (% of FCI) | MSME Period (yrs) | LSI Cap (% of FCI) | LSI Period (yrs) |
|---|---|---|---|---|
| A and B | 30% and 40% | 5 and 7 | 40% | 7 |
| C | 50% | 7 | 50% | 7 |
| D | 60% | 10 | 60% | 7 |
| D+ | 70% | 10 | 80% | 7 |
| Vidarbha, Marathwada, Ratnagiri, Sindhudurg, Jalgaon and Dhule | 80% | 10 | 90% | 9 |
| No-industry districts, Naxalism-affected areas and aspirational districts | 100% | 10 | 100% | 9 |
Two asymmetries worth reading carefully. First, in the D and D+ zones the MSME period (10 years) is longer than the Special LSI / LSI period (7 years), even though the LSI cap in D+ (80%) is higher than the MSME cap (70%). Second, the A and B row carries split values — “30% and 40%” cap and “5 and 7” years — which the summary does not disaggregate.
Fiscal Incentives for Manufacturing — Core Package
| Incentive | What the deck states |
|---|---|
| Industrial promotion subsidy | 100% reimbursement of gross SGST on the first sale of eligible products within Maharashtra, capped at 30% to 100% of FCI. Benefit available for five to ten years, based on zonal classification and project category. |
| Capital subsidy | For specific thrust sectors, MSME and LSI units: 20% of eligible FCI. Coverage graded by zone — 100% of land, building and machinery costs for Group D, D+ and below; 80% of machinery cost for Group C; 50% of machinery cost for Groups A and B. Capped at ₹25 crore, with an annual cap of ₹5 crore. |
| Stamp duty exemption | Group A and B — 50% waiver on the first lease or conveyance deed. Group C, D, D+ and below — new and eligible units get 100% exemption. |
| Electricity duty exemption | 100% exemption — for Group C, D, D+ and below, on new manufacturing or eligible expansion projects (tenure based); for Group A and B, on Export Oriented Units and units fully owned by women, SC/ST or persons with disabilities employing 50% of the workforce from that group (tenure based for MSMEs, seven years for LSIs). |
| EPF reimbursement | 50% reimbursement of the employer's PF contribution for eligible employees of Group D, D+ and below, for five years from commencement of operations. Maximum reimbursement ₹5 crore or ₹10 crore per unit (MSME, LSI and Special LSI). |
| PLI for MSMEs | For 100% EOUs and EOUs with more than 50% exports not covered under the industrial promotion subsidy. Applicable for five years, maximum 10% of FCI, capped at ₹1 crore annually. 1.5% of incremental turnover for 100% EOUs; 1% of incremental turnover for EOUs with more than 50% exports. |
The industrial promotion subsidy is the anchor, and the cap moves with the zone. It reimburses gross SGST on first sale within the State, but the “30% to 100% of FCI” ceiling means the SGST reimbursement stops once cumulative benefit hits the zone-set percentage of FCI. Model which binds first: the annual SGST throw-off or the FCI-percentage cap.
Manufacturing — Performance-linked, Power, Interest and Scaling Incentives
Other Fiscal Incentives
- •Power tariff subsidy — ₹1 per unit for three years, capped at ₹1 crore for MSMEs and ₹1.5 crore for LSIs / Special LSIs in Group D, D+ and below.
- •Interest subsidy — up to 5% annual interest support for eligible MSMEs, provided they contribute at least 5% of the payable interest; capped at ₹1 crore per year.
Performance-linked Additional Incentives for MSMEs
| Incentive | Rate and ceiling |
|---|---|
| Technology upgradation assistance | 50% on additional capital equipment, up to ₹25 lakh over five years |
| Energy and water audit incentive | 50% of cost — max ₹1 lakh (water), ₹2 lakh (energy) |
| Energy efficiency incentive | 50% of cost for capital equipment, up to ₹5 lakh |
| Credit rating incentive | 50% of credit rating cost by accredited agencies, up to ₹1 lakh |
| Listing expense reimbursement | 50% of SME stock exchange listing cost, up to ₹5 lakh or actual CA-certified cost |
| Quality, testing and certification labs | 50% capital cost (excluding land) grant-in-aid, up to ₹5 crore per lab, first 12 labs |
| Quality certification incentive | 75% on certification costs — up to ₹1 lakh (GMP / Hallmark), ₹2 lakh (patents or GI) |
| Patent cost reimbursement | Up to ₹2 lakh (domestic) and ₹10 lakh (international) for patents, copyright, trademark and GI registration during the period |
| Zero Defect Zero Effect (ZED) certification | 50% of ZED certification fees, up to ₹50,000, for MSMEs registered under ZED |
Other Scaling and Vendor Incentives
- •One-time grant for scaling up MSMEs — the first 25,000 eligible MSMEs supported. 50% of additional investment or ₹5 lakh (micro to small), ₹10 lakh (small to medium), ₹25 lakh (medium to large-scale), whichever is less.
- •Anchor vendor incentive — incentives to 100% captive vendors associated with mega and ultra-mega units, subject to Cabinet Sub-Committee approval.
- •Import substitution incentive — 10% additional FCI support and up to 20% R&D reimbursement (maximum ₹10 crore) to promote local manufacturing and reduce import dependence.
Fiscal Incentives for the Service Sector
Service-sector incentives are available based on the classification of units (MSME, large, mega, ultra-mega) and the taluka or zone categorisation, subject to minimum employment criteria.
| Incentive | What the deck states |
|---|---|
| Stamp duty exemption | Group A and B — 50% waiver on first lease or conveyance deed. Group C, D, D+ and below — 100% exemption for new and eligible units. |
| Rental lease subsidy | Up to 50% of rental lease cost or a capped amount — ₹1 crore (Group D / D+ and below), ₹10 crore (Group C), ₹20 crore (Groups A and B) — whichever is lower. Available only to the first 20 units in each district. |
| Electricity duty exemption | Group A and B — three years. Group C, D, D+ and below — five years, for new and eligible units. |
| EPF reimbursement | 50% for five years — on jobs paying ₹50,000+ per month in Group D and below, capped ₹10 crore per unit (first 500 units); and on salaries of ₹75,000+ per month in Group C and ₹1 lakh+ per month in Groups A and B, capped ₹10 crore per unit (first 500 units). |
| R&D and innovation subsidy | 50% of R&D cost, capped at ₹10 crore — only for mega and ultra-mega units. |
| Skilling subsidy (first 20 units) | 50% of training cost, or up to ₹2 crore (Group D and below) and ₹1 crore (Groups A, B and C). |
| Fortune 500 / billion-dollar companies | Highly subsidised land at ₹1 per acre (up to 50 acres), one unit per district in 12 emerging Zone I districts, creating more than 1,000 jobs. |
| IT / BPO / KPO in Tier-2 cities | Up to 120% of FCI as incentives for mega and ultra-mega IT, BPO and KPO units in Tier-2 cities. |
Additional Incentives — Emerging Districts, Cohorts and Sustainability
Incentivising Industrial Growth in Emerging Districts
Special incentives for setting up operations in 27 emerging districts (Zone 1 and Zone 2). Units investing ₹500 crore and creating 500 jobs receive an additional 25% of FCI in Zone 1 and 15% in Zone 2.
Incentives for Strengthening All Workforce Cohorts
| Scheme | Support |
|---|---|
| Chief Minister's Yuva Karya Prashikshan Yojana | Performance-based, up to ₹10,000 per candidate for six to eleven months |
| Maharashtra Apprenticeship Promotion Scheme | Up to 50% of cost, capped at ₹5,000 per apprentice per month, up to three years |
| Skill-linked incentive schemes | ₹20,000 per candidate, limited to 20% of the total workforce |
| PM Vishwakarma Bharat Rojgar Yojana | Incentives for formal employment creation for eligible units |
| SC/ST-owned enterprises and women entrepreneurs | Additional up to 20% of FCI, based on ownership with a minimum number of women employees |
| One District One Product (ODOP) units | Additional 10% of FCI, with an overall cap of 120% of FCI |
Incentives for Sustainability and Excellence
- •Green incentives — mega and ultra-mega projects receive 25% reimbursement of technology cost (up to ₹10 crore) for adopting green technologies.
- •Wastewater treatment and reuse — capital assistance up to ₹5 crore or 25% of capital cost for ETPs, CETPs and STPs in MIDC, subject to reuse of 25% treated water; an additional 25% capital subsidy for ZLD technologies; green-certified industries using recycled water get priority in land allotment and up to 10% additional FSI.
- •Event participation — up to 30% of eligible expenses for recognised industry associations, capped at ₹5 lakh (domestic) and ₹10 lakh (international) per unit.
- •Access to finance — seed funding, annual hackathons and market expansion support for start-ups, along with benefits under the Maharashtra Start-up Policy 2025.
Infrastructure Backdrop and Where Advisory Fits
Infrastructure Development Commitments
- •Expansion of strategic corridors such as Mumbai–Nagpur and Pune–Aurangabad.
- •Integrated logistics parks and multimodal transport facilities.
- •High-speed rail, metro networks and road infrastructure.
- •Modernisation of major ports and creation of coastal economic zones.
- •Renewable energy projects and reliable power supply.
- •High-speed broadband, data centres and smart industrial clusters.
Points where the summary is thin, and the GR must be consulted. (a) The taluka-to-zone (A / B / C / D / D+) classification is used throughout but never tabulated. (b) The Special LSI, mega and ultra-mega thresholds are ranges resolved only by zone. (c) The “20% for plant and machinery” subsidy-base line is stated without explanation and could change any computation. (d) The A and B row splits are not disaggregated. (e) Mega and ultra-mega “customised incentives” sit outside the tables entirely.