ASSOCHAM MahaChem 2026: Maharashtra to unveil dedicated chemical sector policy by October-end; plans 5,000-acre chemical parks, ₹1,000-crore innovation fund

Mumbai, September 9, 2026: 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 ₹1,000-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.
“Maharashtra is working towards a dedicated Chemical Sector Policy and we expect to have it in place by the end of October. The policy will address the specific requirements of the sector and complement initiatives already being developed across bioplastics, biotechnology, biomanufacturing and other emerging areas,” Dr. Anbalagan said.
He said the state is also examining locations including Palghar, Raigad and Ratnagiri for chemical parks ranging from 2,500 to 5,000 acres. Alongside this, faster approvals and ease of doing business would remain key priorities. The proposed ₹1,000-crore Maharashtra Industries and Investment Fund will support R&D, technology readiness and innovation, while strengthening the financing ecosystem for new technologies and businesses.
Praveen Pardeshi, 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 US$1 trillion economy, with competitiveness increasingly dependent on access to utilities, energy and water, as well as supportive policy reforms.
“Achieving this will require faster growth as well as an ecosystem that attracts greater private investment. For strategic sectors such as chemicals and pharmaceuticals, competitive utility costs, flexible energy access, sustainable water management and supportive policy reforms will be critical to strengthening Maharashtra’s industrial competitiveness.”
Devendra Fadnavis, Chief Minister, Government of Maharashtra,  conveyed to ASSOCHAM that the state remains committed to attracting new investments into the sector and strengthening the business environment through faster clearances, policy incentives and the MAITRI single-window platform.
“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.”
The Chief Minister emphasised that the chemical and petrochemical sector is a primary engine of Maharashtra’s US$1 trillion economy vision, adding that the government would continue to provide financial, logistical and administrative support to build an innovation-led and sustainable industrial future.
Maharashtra’s US$22-billion chemical opportunity
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 US$22 billion, with more than 3,600 factories and 13 designated chemical zones. The sector contributes around 19 per cent to India’s chemical sector GVA and 17 per cent of the country’s chemical exports, while accounting for 13.5 per cent of Maharashtra’s industrial output and employing around 3 lakh people.
The report highlights significant opportunities for Maharashtra to move up the value chain into specialty chemicals, battery materials, electronic chemicals, advanced polymers, specialty coatings, pharmaceutical and agrochemical intermediates, bioplastics and other emerging areas.
Milind Hardikar, Chair, ASSOCHAM Maharashtra State Council, said the sector is at an inflection point and that the next phase of growth would need to move beyond capacity expansion towards specialty chemicals, high-value derivatives and sustainable green chemistry.
“The sector is at a critical inflection point. This is not just about capacity expansion, but about a structural shift towards specialty chemicals, high-value derivatives and sustainable green chemistry. We need to balance growth with supply-chain resilience, raw material security and sustainable manufacturing, and this requires industry and government to work together.”
MahaChem 2026 – 3i: Catalysing Investments, Innovation and Infrastructure, organised by ASSOCHAM, brought together policymakers, industry leaders, investors, researchers and startups to discuss the next phase of Maharashtra’s chemical sector. Deliberations covered investment opportunities, innovation and sustainable manufacturing, infrastructure and logistics, standardisation and certification, and taking new chemical technologies from idea to market.
The conclave highlighted the need for closer alignment between policy, infrastructure, investment, research and industry to position Maharashtra as a globally competitive destination for the next generation of chemical manufacturing.