On 30 May 2023, the Maharashtra state cabinet approved a new IT support services policy, intending to attract investment of Rs 95,000 crore in this sector and carry out the export of up to Rs 10 lakh crore.

The new policy will generate 35 lakh jobs and will take the state to the forefront of the IT industry in the country. Various incentives have been sanctioned to develop zone one cities such as Mumbai and Navi Mumbai as data centre hubs.

Under the policy, the Maharashtra government will take the initiative to establish an integrated Center of Excellence (CoE) to support startups in association with leading technical institutes, business schools and private institutions. Likewise, innovation clusters will be developed through M-Hubs on the lines of the NASSCOM Startup Warehouse Program of Maharashtra Industrial Development Corporation for new industries.

The M-Hub will be established at the premises of the Maharashtra State Small Industrial Development Corporation (MSSIDC) at Kalamboli in Raigad to promote entrepreneurship. The building will comprise training facilities for 300 students, along with accommodation for students and faculty.

Under the 2015 policy, Maharashtra received an investment of Rs 61,872 crore when the target was Rs 50,000 crore.