30-06-2025
Maharashtra plans vertical industrial development policy amid land crunch
In a push to boost industrial growth, the Maharashtra government is preparing to come out with a new policy to promote vertical industrial structures due to the acute land shortage and soaring land prices in the state. The announcement was made by Maharashtra Development Commissioner Deependra Singh Kushwah during an industry-oriented conclave in Mumbai on Monday.
Speaking at the event B Radhakrishnan, chairman and managing director of MahaGenco (Maharashtra State Power Generation Company) said that the state also aims to gradually reduce electricity tariffs for industries over the next five years and pointed that cheaper electricity from renewable sources will soon become more accessible to industries.
The announcements came during a panel discussion organised by Loksatta at the World Trade Center, aimed at exploring ways to transform Maharashtra into a USD 1 trillion economy. Key participants included Anant Goenka , vice-chairman RPG Group; Pratik Agarwal, managing director, Sterlite Power; Dinesh Joshi, Chairman of Satyagiri Group and Co-Chair of FICCI Maharashtra; Deependra Singh Kushwah and B. Radhakrishnan.
P Velarasu, CEO of MIDC (Maharashtra Industrial Development Corporation), presented the state's industrial policy roadmap.
Industry leaders at the event voiced concerns over Maharashtra's high power tariffs, currently among the highest in the country. Addressing the concerns, Radhakrishnan said that the state plans to double its power generation capacity to 26,000 MW over the next decade, with the majority coming from renewable sources. This transition, he assured, will lead to a gradual decrease in electricity rates for industries over the next five years.
Highlighting the land scarcity challenge, Kushwah said the proposed vertical industrial development policy would address cost pressures while ensuring sustainability. The policy will include strict guidelines to prevent pollution from waste, plastics, sewage, or air emissions, he said.
RPG Group's Anant Goenka urged the government to immediately bring down power tariffs to Rs 6.50 per unit, ideally using green energy. In response, Radhakrishnan emphasised the state's shift toward renewable energy sources, which would help bring down prices sustainably.
MIDC CEO Velarasu asserted that Maharashtra remains a leader in attracting foreign investment across multiple sectors and has maintained its competitive edge despite strong competition from other states.
Speaking on urban development, Sterlite's Pratik Agarwal stressed the need for clean, livable cities to attract industrial investment. 'Cities like Singapore, London, Beijing, and Shanghai weren't always ideal—they overcame pollution and infrastructure challenges to become models of urban excellence. India too should aim to build at least five such pollution-free, world-class cities,' he said.
He also cited Mumbai's hazardous air quality during winters, largely due to dust from construction and coal combustion, as an area needing urgent attention.
