| Maharashtra's economy is
the largest among all states in the
country. The state recorded a Net State
Domestic Product (NSDP) of over US$
35.29 billion in 2003-04. It is a
leading industrial state accounting for
20 per cent of the country's investment
and 17 per cent of Foreign Direct
Investment and 40 per cent of exports.
The main industries in the state
include chemicals, petrochemicals, oil
& gas, engineering, automobiles and
textiles. The key competitive strength
of the state in this industry is the
upstream and downstream linkages for raw
materials and products. The availability
of oil & gas from Bombay High oil
fields (offshore of Mumbai) has spurred
the large scale development of chemicals
and petrochemicals industry in the
state.
The state also accounts for 40 per
cent of the country's pharmaceuticals
output. The US$ 5 billion Indian
pharmaceutical industry in 2003 is
expected to grow to US$ 25 billion by
2010.
Mumbai is the principal financial
services centre of the country. The apex
financial institution, the Reserve Bank
of India (RBI), is located at Mumbai.
The city houses the two largest stock
exchanges, the Bombay Stock Exchange (BSE)
and the National Stock Exchange (NSE)
controlling over 95 per cent of the
volume in the Indian equities market.
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