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$ 150.6 billion in 2008-09. The compound annual growth rate (CAGR) of GSDP from 1999-2000 to 2008-09 was about 12.3 per cent. Maharashtra ranks first amongst all the Indian states in terms of GSDP.
Maharashtra offers a wide range of subsidies, fiscal and policy incentives and assistance for businesses under the “Industrial, Investment and Infrastructure Policy, 2006”. The state also has sector-specific policies for IT and ITeS, biotechnology and tourism.
The state‟s per capita GSDP in 2008-09 was US$ 1,382.8. The per capita GSDP has increased at a CAGR of 10.5 per cent between 1999-2000 and 2008-09. Maharashtra ranks among the top five states in terms of per capita GSDP.
Post liberalisation of Indian economy in 1991, Maharashtra has attracted highest number of industrial investment proposals among Indian states (15,408 proposals between August 1991 and August 2009) with cumulative investment of US$ 117.8 billion and employment opportunity 2.8 million people.
According to the Reserve Bank of India, FDI inflows from April 2000 to May 2010 amounted to US$ 40.2* billion. Key sectors attracting healthy FDI inflows include energy, transportation, services, telecommunications and electrical equipment.
*Includes Maharashtra, Dadra & Nagar Haveli and Daman & Diu
Source: Department of Industrial Policy & Promotion
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