Mumbai: The Maharashtra Budget 2026–27 outlines a major push to expand the services and digital economy, with new policies aimed at strengthening the state’s position in animation, media technology, global capability centres and the startup ecosystem.
Presenting the Budget in the Legislative Assembly, Chief Minister Devendra Fadnavis said the government aims to expand the services sector significantly as part of the long-term vision of building a $5 trillion state economy by 2047.
The government has set an ambitious target of increasing the services sector’s contribution to the state economy substantially in the coming decades, with a focus on technology-driven industries, global services and creative sectors.
To strengthen the digital and creative economy, the state has announced the AVGC-XR Policy-2025, aimed at promoting the Animation, Visual Effects, Gaming and Comics industry. Under the policy, support will be provided to more than 295 studios, special parks and startups operating in the AVGC sector.
The government also highlighted the successful hosting of the World Audio-Visual and Entertainment Summit (WAVES) in Mumbai, organised jointly by the Central and State governments. To strengthen skill development in the sector, the Indian Institute of Creative Technology has been established in Mumbai.
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In another major initiative, the government has prepared the Maharashtra Global Capability Centre (GCC) Policy-2025, aimed at attracting multinational corporations to establish global service and technology centres in the state.
Under this policy, the government plans to establish 400 new Global Capability Centres, creating around four lakh high-skill job opportunities.
Pune has emerged as one of the most preferred destinations in the country for such centres, and the government expects the new policy to further strengthen the city’s position as a technology and services hub.
The Budget also emphasised the growth of the startup ecosystem in Maharashtra. The state currently ranks among the leading startup ecosystems in the country and has the highest number of unicorn startups.
To support early-stage entrepreneurs, the government has announced the creation of a Chief Minister Entrepreneurship Mega Fund, which will provide financial assistance to promising startups.
Under this initiative, 50 innovative startups will be selected, and government departments will be allowed to issue work orders of up to ₹25 lakh to these startups without a tender process to implement innovative projects.
The government said these initiatives are aimed at expanding Maharashtra’s services economy, strengthening the technology ecosystem and creating high-skilled employment opportunities for the state’s youth.
