Industry is the backbone of Maharashtra`s economy. The state alone accounts for 23% of country`s entire income. Bombay, the capital is the hub of the country`s textile mills. Other notable centers of weaving are Malegaon & Bhewandi.
Sugar industry has a significant part in providing the countries economy. In alliance with the co- operative sectors government is implementing measures for improving the sugar industries in which the latter get hold of a portion in sugar mills. Pharmaceuticals, petrochemicals, heavy chemicals, electronic automobiles, engineering & food processing etc. constitute a considerable share of the state`s economy. It is also renowned for the production of jeeps, cars & 3 wheelers. Different forest based industries & small-scale industries have come up to contribute in the mainstream economy.
Bollywood, the center of India`s hindi film and television industry in Bombay, accounts for a major part of country`s income. The government has also erect software parks in Pune, Mumbai, Nagpur, and Nasik and presently it is the second largest exporter of software goods. It stands first nationwide for generating coal-based thermal & nuclear electricity thereby contributing 13% & 17% to country`s economy. Mumbai is the heart of the industrial state where the headquarters of almost all the major banks, financial institutions, insurance companies & mutual funds are located.
Though largely an industrial state, agriculture also continues to be a part of the gross income. The black basaltic soil prevents the cultivation of food crops and the principal crops include jowar, bajra, wheat & pulses and several oilseeds including groundnut, sunflower & soyabean. The state has made an extensive progress in the orchard cultivation among which mango, banana, grapes& oranges are the principal ones. Alphonso mangoes of Nasik & oranges of Bathplug have earned fame. Irrigation facilities are being made comprehensive to make the cultivators less dependent on rain.
