Maharashtra Economic Development Council (MEDC) was constituted more than four decades back in 1957, i.E. On 29th June 1957, by the prominent Chambers of Commerce and Business and Industries Associations in Maharashtra, as a symbol of social responsibility of business an industry, under the Stewardship of the late Dr. Dhananjayrao Gadgil, eminent Economist and former Dy. Chairman of the Planning Commission, Govt. Of India.

The Council has always been fortunate to have eminent personalities and experts in business and industry, economic and administrative fields as its Presidents, who have actively supported and guided the affairs of the Council to serve the business and industry in our State. Leading personalities who had adorned the Presidentship of the Council so far are: (Late) Shri Lalchand Hirachand, (Late) Shri S. L. Kirloskar, (Late) Shri Nani Palkhivala, Shri Keshub Mahindra, Shri Subhash Dandekar, Shri Adi Godrej, Shri M. N. Chaini?. They moulded it in their special and inimitable ways to give it the image and eminence the MEDC commands to day. The vision and exquisite leadership of these personalities has made the MEDC a UNIQUE Research & Development Organisation not only in Maharashtra but also in India, by virtue of its research-oriented services and nature of membership.