Within a month, Maharashtra’s Development Commissioner of Industries, Deependra Singh Kushwah, IAS, is expected to reveal a new industrial policy that will prioritise social inclusion, technological adoption, and sustainability.

Kushwah stated, “Maharashtra has always brought new revolutionary ideas in the country’s industrial policy,” when asked about impending changes. “Our policy has a global perspective this time. Our priorities are cutting carbon emissions, promoting sustainability, and supporting green projects. We are putting policies in place to ensure that industries work in harmony with the environment rather than against it,” he added. The 2019 policy, which was set to expire in 2024, was extended, he revealed, and the new policy’s draft will be completed and made public in a month.

Kushwah explained the focus areas, pointing out that the future strategy is based on three pillars: inclusivity, technology, and sustainability. First, measures to encourage sustainability activities have been put in place. Second, in order to keep industries competitive, the strategy encourages the adoption of new technologies. Third, it promotes inclusivity by encouraging individuals from various backgrounds to pursue business and maintaining regional equilibrium throughout the state,” he clarified.

Regarding the function of Corporate Social Responsibility (CSR), Kushwah stated that Maharashtra has matched its strategy with the policy of the Indian government. In collaboration with stakeholders, updated rules are being developed to better simplify CSR operations. These will make deployment easier and guarantee that the benefit is felt holistically,” he continued.

Kushwah noted that when it comes to FDI inflows, Maharashtra remains the nation’s top destination. Nearly 40% of all foreign direct investment (FDI) in India was drawn to the state last year. We are certain that this leadership can be maintained with favourable policy changes, a single-window system, and a healthy environment. Maharashtra’s GDP will reach the $1 trillion target by 2028 if this trend continues, he said.

Kushwah emphasised that all sectors will need to contribute in order to reach the $1 trillion economy target. “Innovators and creators from rural Maharashtra will be vital, in addition to industry and services. Our objective is to establish Maharashtra as a worldwide industrial powerhouse and to make the state and India self-sufficient in production and manufacturing,” he stated.