Mumbai in Maharashtra is known as the trade and commerce capital of India. The city is also the financial centre of the country. In recent years, Maharashtra has emerged as a key hub for IT and ITeS, electronics, and the captive business outsourcing industries.
The gross state domestic product (GSDP) of Maharashtra was US$ 147.0 billion in 2007-08. The compound annual growth rate (CAGR) of GSDP from 2000-01 to 2007-08, was about 15.9 per cent. Maharashtra ranks first amongst all the Indian states in terms of GSDP.
The net state domestic product (NSDP) of Maharashtra was US$ 125.6 billion in 2007-08. The compound annual growth rate (CAGR) of NSDP from 2000-01 to 2007-08 was about 15.7 per cent. Maharashtra ranks first amongst all the Indian states in terms of NSDP.
In 2007-08, the tertiary sector contributed 62.9 per cent to the state’s GSDP at current prices. It was followed by the secondary sector at 21.5 per cent. The tertiary sector is driven mainly by trade, hotels, restaurants, communication, banking and insurance. The share of the primary sector in GSDP was 15.5 per cent in 2007-08 vis-à-vis 17.3 per cent in 2000-01.
The state’s per capita GSDP in 2007-08 was US$1,369.9. The per capita GSDP has increased at a CAGR of 14.1 per cent between 2000-01 and 2007-08. Maharashtra ranks among the top five states in terms of per capita GSDP.
The resources, policy incentives, infrastructure and climate in the state support investments in the IT, electronics, pharmaceuticals, food processing, agro processing, textiles and retail sectors.State Presentation (April 2010)
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