Maharashtra Chief Minister Devendra Fadnavis | Photo credit: ANI
Export figures show that Maharashtra’s exports fell from $72,437.52 million in FY22-23 to $67,201.71 million in FY23-24, and further to $65,912.79 million in FY24-25.
The data based on exporters’ declarations in the ship’s accounts shows that the state’s share in total Indian exports fell from 16.06 percent in FY22-23 to 15.38 percent in FY23-24, and further to 15.06 percent in FY24-25, indicating a gradual erosion of Maharashtra’s export dominance even as national exports remained largely stable.
In the first half of the current financial year, FY 25-26 (April-September), Maharashtra exported goods worth $34,375.47 million, accounting for 15.63 percent of India’s total exports of $219,878.74 million in the same period. While the stock shows a marginal recovery compared to FY25, the absolute export value indicates continued pressure on shipments
Total Indian exports fell from $451,070 million in FY22-23 to $437,072.03 million in FY23-24, before stabilizing at $437,704.59 million in FY24-25, due to a broader slowdown in global trade. However, Maharashtra’s export decline was sharper than the national average, resulting in a gradual loss of market share in the export basket.
Revitalize export growth
The data points to increasing challenges for Maharashtra’s export-oriented sectors amid weak global demand and cost pressures. Although the state still accounts for about a sixth of India’s exports, the continued decline underlines the urgency of reviving export growth to maintain its leadership position.
Maharashtra Chief Minister Devendra Fadnavis recently stated that by removing barriers and creating a truly industry-friendly ecosystem, Maharashtra is building an environment where entrepreneurs can focus on innovation and growth rather than navigating bureaucracy.
With serious implementation and proactive reforms, the state will continue to attract large-scale investments, accelerate industrial growth and make steady progress towards the vision of becoming India’s first $1 trillion subnational economy, Fadnavis said.
Published on December 24, 2025
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