During 1994 and 2003, the economy of Haryana grew at an average rate of 6.5
per cent per annum. Haryana has the fourth highest per capita income in the
country. The state is located strategically close to Delhi and one third of its
area falls within the National Capital Region (NCR). This region represents one
of the biggest trade and consumption centres in the country.
Haryana became the first state in the country to introduce Value Added Tax in
2003. Key sectors in the state include automobiles and auto components, textiles
and readymade garments, Information Technology (IT) and Information Technology
Enabled Services (ITES). The state accounts for half the cars and two-wheelers
produced in the country. It is also the third largest exporter of software
services.
The state offers significant potential for agro-based industries, property
development and retailing. With investment currently underway, it is expected to
emerge as the principal hub for downstream chemicals in north India.
