MEDC – A Unique Think – Tank The Maharashtra Economic Development Council (MEDC) was established in 1957 under the stewardship of (late) Dr. Dhananjayrao Gadgil, eminent Economist and former Deputy Chairman, Planning Commission, Govt. of India. It was set up by participation of prominent Chambers of Commerce, Business and Industries Associations in Maharashtra, to “facilitate rapid and balanced economic development of Maharashtra”. The Council acts as an Economic Think-Tank for Business & Industry as also for the Government of Maharashtra. The Council has always been fortunate to have eminent personalities and experts from Business & Industry, as Presidents, who have actively supported and guided the affairs of the Council. This has made MEDC a unique Research & Development Organisation not only in Maharashtra, but also in India.