| While the India growth
story is often plugged as the saga of
corporate enterprise and innovation, the
government’s contribution to its
making remains largely unsung. Be it in
the form of policy reforms or
development of infrastructure, the
government, both at the central and the
state levels, has been working in tandem
to make India the second most attractive
investment destination in the world. The
latest AT Kearney report on FDI
Confidence Index says that India is, in
fact, more popular than US among
manufacturing investors.
The state governments have already
embarked on a war path to make their
respective states investment friendly.
They are on a three-point agenda:
-
Providing
basic infrastructure and encourage
private sector participation in
infrastructure provision
-
Providing
policy stability to businesses to
encourage investment and growth
-
Creating
employment opportunities by
developing the services sector
Each state has its own strengths for
the potential investor. While West
Bengal has surplus electricity, Tamil
Nadu is considered one of the most
developed states in the country. The
latter is also known for having the
fastest growth rate in software exports
-- 700 per cent from 1998 to 2001.
Haryana, which has the fourth highest
per capita income in India, produces
half of the cars and two-wheelers
produced in India, while Goa’s economy
is based on tourism.
Considering all the Indian states
have a number of opportunities to offer,
IBEF has decided to showcase them in a
series of state reports.
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