ASSOCHAM Appoints Milind Hardikar as Chairman of Maharashtra State Council

Mumbai : ASSOCHAM has appointed Milind Hardikar as the new Chairman of its Maharashtra State Council. Hardikar brings extensive experience in industry, strategic business initiatives, and policy-driven growth. He is currently serving as Director – Group Strategic Initiatives at Welspun Group, where he has played a key role in driving innovation-led business transformation, sustainable industrial development, and strategic expansion across sectors.

Sharing his outlook, Hardikar stated that Maharashtra’s Gross State Domestic Product (GSDP), at current prices, is expected to reach between USD 650–700 billion by FY2027, positioning it as India’s largest state economy.

Over the past decade (FY16–FY26), the state has recorded a strong compound annual growth rate (CAGR) of over 10%. Per capita GSDP is projected to exceed ₹3.61 lakh, reflecting rising incomes and sustained momentum in industry, services, and investment-led growth.

The services sector continues to dominate Maharashtra’s economy, contributing nearly 60% to the total GSDP, with key segments including finance, trade, real estate, and IT. The industrial sector accounts for around 26%, supported by manufacturing and construction activities, while agriculture contributes about 14%, indicating a structural economic shift, though it remains vital for rural livelihoods.

Between 2019 and 2025, Maharashtra attracted foreign direct investment (FDI) worth ₹8.32 lakh crore, ranking among the top in India. The state’s exports have ranged between USD 65–75 billion, led by engineering goods and gems and jewellery.

With a strong economic base and diversified growth drivers, Maharashtra is projected to become a USD 1 trillion economy by 2030, supported by infrastructure development, innovation, and policy initiatives.

In his new role, Hardikar will lead ASSOCHAM’s efforts to strengthen industry dialogue, promote policy advocacy, and accelerate investment, innovation, and economic growth in the state. The council will work closely with government bodies, industry stakeholders, and emerging enterprises to advance Maharashtra’s development agenda. Key focus areas include logistics, infrastructure, and defence.

ASSOCHAM expressed confidence that under Hardikar’s leadership and strategic vision, Maharashtra will witness enhanced industrial competitiveness, ease of doing business, and sustainable growth.