Maharashtra surpasses Bengaluru to become India's startup capital

Maharashtra has now claimed the title of the startup capital of India, surpassing Bengaluru in terms of both the number and value of startups over the past year. The announcement was made by Maharashtra Chief Minister Devendra Fadnavis during his address at the COMP-EX 2025 tech expo held last Friday. Fadnavis emphasized that Maharashtra is now the leading state in the country when it comes to innovation, with the highest number of startups and a growing number of unicorns.

The Chief Minister highlighted the state’s advancements in the technology sector, particularly in artificial intelligence (AI). Fadnavis noted that the Maharashtra government is actively promoting startups in AI and aims to foster further growth in this area. “Maharashtra has overtaken Bengaluru in terms of startups in the last year. The state is now the startup capital of India, both in terms of numbers and the total value of startups. Maharashtra is leading the charge in technology, and most unicorns are emerging from here,” Fadnavis stated.

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To build on this momentum, the Maharashtra government is setting up an ‘Innovation City,’ which aims to make the state the number one destination for innovation in India. The state is also positioning itself as the fintech capital of the country, thanks to a rapidly growing sector that attracts major global players and investors.

Meanwhile, at the World Economic Forum (WEF) summit in Davos, Switzerland, Maharashtra has been notably absent. While Chief Ministers from most major states, including Telangana, have participated in the summit, Maharashtra is the only state without a representative there. Telangana’s Chief Minister has signed agreements with leading global companies, securing investments for his state in various sectors. In contrast, Maharashtra’s absence from the event has raised questions about the state’s focus on international investment.

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At the Davos 2025 summit, India’s ‘Team Bharat’ outlined its vision for becoming a developed nation by 2047, emphasizing inclusive growth, sustainability, and technological innovation. While Maharashtra’s Chief Minister Devendra Fadnavis did not attend the event, other prominent leaders, including Andhra Pradesh CM N. Chandrababu Naidu, Telangana CM Revanth Reddy, and other dignitaries, participated in the event to promote their respective states.

Despite the absence in Davos, Maharashtra’s impressive growth in the startup ecosystem and commitment to becoming a global hub for innovation and technology signals a bright future for the state’s economic development.