In Thane the
Wagle Estate is the industrial area of Thane city established in 1962.
After the formation of Maharashtra state, the government of Maharashtra constituted a "Board of Industrial Development" (BID) on 1 October 1960, under the chairmanship of Shri. S. G. Barve. The committees recommendations received in the industries department were taken up for implementation. As per the Borkar Committee's recommendations, development of Ulhas Valley Water Supply was entrusted to the Board of Industrial Development (BID). The BID framed the legislation; it was introduced before the state legislation and passed in the form of "Maharashtra Industrial Act" which gave birth to Maharashtra Industrial Development Corporation (MIDC), as a separate corporation on 1 August 1962. A small ceremony at Wagle Estate, Thane, under the chairmanship of the Chief Minister Shri Yashwantrao Chavan, marked the birthday of MIDC on 1 August 1962.