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 provisions
- 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.
