Maharashtra government sees GCCs, AVGC sector expand state’s services GDP to $3,000 billion by 2047, says Chief Minister Fadnavis

Devendra Fadnavis

• Maharashtra aims to boost services GDP to $3,000 billion by 2047
• State targets 400 new GCCs and 4 lakh high-skilled jobs
• Mumbai and Pune to become $50-billion Media Tech and AVGC hubs

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The Maharashtra government projected that global capability centres (GCCs), media tech and Animation, Gaming and Visual Effects (AVGC) sectors will drive the state’s gross domestic product for the services sector, taking it from $312 billion to $3,000 billion by 2047.

While presenting the State Budget 2026-2027 on March 6, Chief Minister Devendra Fadnavis said the government will be working on making Mumbai and Pune a $50-billion "Media Tech and AVGC" hub, set up GCCs to create more than 30 lakh jobs and set up start-up cities too.

“The government has set an ambitious target of increasing the gross domestic product of the service sector in the state from $312 billion to $3,000 billion by 2047,” he said.

Policy updates

The state government released its GCC Policy and AVGC-XR Policy in 2025.

Under the GCC policy, the state had targeted to establish 400 new GCCs in the state with the goal of creating 4 lakh high skilled job opportunities.

With the AVGC-XR Policy-2025, the state will be supporting more than 295 studios, special parks and startups.

“Last year, the World Audio-Visual and Entertainment Conference - WAVES was successfully held in Mumbai in collaboration with the Central and State Government. Indian Institute of Creative Technology (IICT) has been started in Mumbai with the help of the Central Government to provide high-quality education in this field,” Fadnavis added.

During the Union Budget on February 1, Finance Minister Nirmala Sitharaman had announced support to IICT in Mumbai in setting up Animation, Visual Effects, Gaming and Comics (AVGC) content creator labs in 15,000 secondary schools and 500 colleges.

The central government has earmarked Rs 250 crore for talent development in the Animation, Visual Effects, Gaming and Comics (AVGC) sector in the Budget 2026-27.