Mumbai, April 16, 2026: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is pleased to announce the appointment of Mr. Milind Hardikar as the Chairman of the Maharashtra State Council. Mr. Hardikar brings with him extensive leadership experience across industry, strategic business initiatives, and policy-linked growth ecosystems. Currently associated with the Welspun Group as Director-Group Strategic Initiatives, he has played a pivotal role in driving innovation-led business transformation, sustainable industrial growth, and strategic expansion initiatives across sectors.
Mr. Hardikar said Maharashtra’s GSDP, estimated at current prices, is expected to be between USD 650- 700 billion in FY 2027, making it India’s largest state economy. It has recorded a strong CAGR of over 10% over the last decade (FY16–FY26). Per capita GSDP is estimated to be above Rs. 361,000 at current prices, reflecting rising incomes and sustained momentum in industrial, services, and investment-driven growth.
The services sector dominates, accounting for 60% of GSDP, led by finance, trade, real estate, and IT, confirming a service-led structure. Industry contributes 26%, supported by manufacturing and construction, while agriculture’s share has declined to 14%, indicating structural transformation but continued importance for rural livelihoods and stability.
Maharashtra attracted ₹8.32 lakh crore in FDI between 2019 and 2025, ranking first nationally and underscoring strong investor confidence. Exports of US$ 65–75 billion reflect diversification, led by engineering goods and jewellery. With strong fundamentals and diversification, the state is expected to surpass a USD 1 trillion economy by 2030, driven by infrastructure, innovation, and policy support, highlighted Chairman of the Maharashtra State Council.
In his new role as Chairman, Maharashtra State Council, Mr. Hardikar will lead ASSOCHAM’s efforts in promoting industry dialogue, facilitating policy advocacy, and fostering a collaborative framework to accelerate investment, innovation, and economic growth in the state. The Council will continue to work closely with government bodies, industry leaders, and emerging enterprises to support Maharashtra’s development agenda and contribute to the vision of a future-ready India. The initial focus areas for Mr. Hardikar would be Logistics, Infrastructure and Defence.
ASSOCHAM looks forward to leveraging Mr. Hardikar’s leadership and strategic vision to drive impactful initiatives that support industrial competitiveness, ease of doing business, and sustainable development across Maharashtra.
