Maharashtra plans establishment of 5000-acre chemical parks, and Rs 1000 Cr innovation fund

Maharashtra is set to introduce a dedicated Chemical Sector Policy by the end of October, while exploring the development of 2,500–5,000-acre chemical parks in Palghar, Raigad and Ratnagiri and planning a Rs 1000-crore Maharashtra Industries and Investment Fund to support R&D, technology readiness and innovation, senior state government officials said at MahaChem 2026 in Mumbai.

The upcoming policy will further build on Maharashtra’s strong chemical manufacturing base and reinforce its position as a global hub for the sector, opening up new opportunities for investments across specialty chemicals, advanced materials, battery materials, electronic chemicals, advanced polymers, bioplastics and other high-value segments.

Dr P. Anbalagan IAS, Principal Secretary Industries, Investment and Services Department, Government of Maharashtra, said at ASSOCHAM MahaChem 2026, the state is taking steps to create a stronger ecosystem for the chemical sector, with a dedicated policy, new chemical parks and measures to support innovation and technology-led growth.

Praveen Pardeshi IAS, Chief Economic Advisor to Hon’ble Chief Minister and Chief Executive Officer, Maharashtra Institution for Transformation (MITRA), said at ASSOCHAM MahaChem 2026, the chemical and pharmaceutical sectors would be critical to Maharashtra’s ambition of becoming a $1 trillion economy, with competitiveness increasingly dependent on access to utilities, energy and water, as well as supportive policy reforms.

Devendra Fadnavis, Chief Minister, Government of Maharashtra said, “We invite investors to look at Maharashtra for their next big venture. The state is committed to creating a pro-business environment through the single-window MAITRI platform, faster clearances and robust policy incentives. A sector-specific Chemical Sector Policy will soon be announced, which will further help attract investments and accelerate growth.”

According to the ASSOCHAM-EY report, ‘Maharashtra: Fuelling India’s Trillion-Dollar Chemical Vision,’ released at MahaChem 2026, Maharashtra’s chemical sector is valued at around $22 billion, with more than 3,600 factories and 13 designated chemical zones.