Mumbai: ASSOCHAM has announced the appointment of Milind Hardikar as Chairman of its Maharashtra State Council, reinforcing its focus on strengthening industry collaboration and policy advocacy in one of India’s most economically significant states.
Currently serving as Director – Group Strategic Initiatives at Welspun Group, Hardikar brings extensive experience across strategic business transformation, innovation-led growth, and large-scale industrial expansion initiatives.
Commenting on Maharashtra’s economic trajectory, Hardikar highlighted that the state’s Gross State Domestic Product (GSDP), at current prices, is expected to reach between USD 650–700 billion by FY27, maintaining its position as India’s largest state economy. He noted that the state has recorded a CAGR of over 10% over the last decade (FY16–FY26), with per capita GSDP estimated to exceed ₹361,000, reflecting rising incomes and sustained economic momentum.
He further elaborated that the services sector continues to dominate Maharashtra’s economic structure, contributing nearly 60% of GSDP, driven by finance, trade, real estate, and IT. The industrial sector accounts for 26%, supported by manufacturing and construction, while agriculture contributes 14%, indicating both structural transformation and continued rural dependence.
Maharashtra has also emerged as a leading investment destination, attracting ₹8.32 lakh crore in FDI between 2019 and 2025, ranking first nationally. Exports, estimated between USD 65–75 billion, are diversified and led by engineering goods and jewellery. With strong fundamentals, the state is projected to surpass a USD 1 trillion economy by 2030, driven by infrastructure development, innovation, and policy support.
In his new role, Hardikar will lead ASSOCHAM’s Maharashtra State Council in advancing industry dialogue, enabling policy advocacy, and fostering collaboration between government bodies, industry stakeholders, and emerging enterprises. Key focus areas under his leadership will include logistics, infrastructure, and defence.
ASSOCHAM stated that it looks forward to leveraging Hardikar’s leadership and strategic vision to drive impactful initiatives that enhance industrial competitiveness, ease of doing business, and sustainable development across Maharashtra, contributing to India’s broader economic growth ambitions.
