Marathwada region soars as an industrial powerhouse

VAIBHAV PARWAT

Hub for entrepreneurship: Remarkable rise in registered SMEs

Chhatrapati Sambhajinagar: Marathwada, once crowned backward region, is rapidly gaining recognition as an industrial powerhouse, particularly in the domain of Small and Medium Enterprises (SMEs). Investors and entrepreneurs alike are turning their attention towards this burgeoning economic hub. However, the entrepreneurs highlight that the region needs innovative financial mechanisms and technological advancements to fuel further growth.

Marathwada as a whole has seen a remarkable rise in the number of registered SMEs, with an impressive 3.09 lakh SMEs registered in the past three years. The region has also established itself as Maharashtra's second-largest automobile hub. Investments are pouring into various sectors, including food processing, pharmaceuticals, horticulture, organic products, automobiles, and chemical-based units.

The region has witnessed a surge in youth entrepreneurship, with numerous districts, experiencing a surge in SME registrations. This industrial growth has translated into significant economic development in villages.

Marathwada expanding horizons

Industries in Marathwada have expanded their horizons, exporting products to 80 countries globally. Entrepreneurs are venturing into new domains, including defense materials, drones, and railway spare parts manufacturing. Industrial associations are actively promoting research and development, focusing on skill enhancement and curriculum adaptations. The SMEs are generating over 1,00,000 direct and indirect employment opportunities.

Symbol of resilience

Marathwada has become a symbol of resilience and progress in the SME sector, showcasing the indomitable spirit of our entrepreneurs. The region needs innovative financial mechanisms and technological advancements to fuel further growth, said Anil Patil, president of the Marathwada Association of Small Scale Industries and Agriculture.

DMIC a stronghold for the region

The Delhi-Mumbai Industrial Corridor, has successfully attracted investments totaling Rs 7500 crore from 191 companies. There is a growing interest from IT companies, with several expressing a strong desire to establish a presence in this thriving business environment.

Number of SMEs registered in Marathwada (In lakh):

District SMEs

Chhatrapati Sambhajinagar: 1.09,207

Nanded: 37,843

Beed: 34,213

Jalna: 33,803

Latur: 33,780

Dharashiv: 26,168

Parbhani: 22,633

Hingoli: 11,940