Maharashtra, located in the western region of India, is one of the most economically developed states in the country, driven by industries such as manufacturing, services, and agriculture. Mumbai, the capital of Maharashtra, is not only the financial capital of India but also a global business hub. It is home to the Bombay Stock Exchange, multinational companies, and Bollywood, the heart of the Indian film industry.
Maharashtra boasts a rich historical and cultural heritage, with ancient forts, caves, temples, and monuments that showcase its diverse history. The region has been home to the Kolis, the Marathas, and numerous Islamic rulers of the Deccan. The Maratha Empire, under leaders like Chhatrapati Shivaji Maharaj, played a significant role in shaping the region’s culture and politics and is often cited when talking about the ‘region’s greatness’.
The state was originally part of the Bombay Presidency under British rule. Thirteen years after India’s independence, Maharashtra was formed in 1960 following the bifurcation of the Bombay State, based on linguistic lines, to accommodate the Marathi-speaking population. The demand for a separate state led to the historic Samyukta Maharashtra Movement, which culminated in the formation of Maharashtra and the incorporation of Mumbai as its capital.
Maharashtra is also known for its agricultural production, including crops like sugarcane, onions, tomatoes, rice, and cotton. It is one of the leading producers of sugar in India. However, parts of the state, especially Vidarbha, remain drought-prone and economically underdeveloped. Maharashtra’s infrastructure is highly advanced, with one of the largest road and railway networks in India and key ports that facilitate efficient trade.
Politically, Maharashtra has a diverse multi-party system. The Shiv Sena, Nationalist Congress Party (NCP), and Indian National Congress (INC) have been dominant players, with the BJP gaining ground in the recent past. In recent years, the state has experienced political instability, most notably after the 2019 Maharashtra Legislative Assembly elections where both regional parties split into twos.
The general economic slowdown, now about five years old, and increasing fiscal stress for the states, after a period of consolidation, are the backdrop against which the performance of state governments needs to be evaluated. For Maharashtra and especially for the Mumbai Metropolitan Region, which could be India’s Shenzhen, the extreme pain being felt by the real estate sector is an added drag. Geography and geology conspire to limit the state’s irrigation potential. The young, dynamic CM has many battles to fight.