Top Most Business Friendly States of India
Odisha: Odisha ranks fourth in the list of most business friendly states in India. A vast coastline and mineral richness are the major contributors for its rapid industrialization. The state has one of the largest deposits of coal, bauxite and chromites in India. According to a RBI report, in 2012-13, the state contributed 27 percent to the total investment in India. The year saw businesses committing to invest Rs 53,000 crore in projects in the state. Odisha has signed MoUs with POSCO for a steel plant near Paradweep calle POSCO India with an investment of $12 billion. Vedanta Resources has proposed a 1.4 million tonne alumina project in Kalahandi. The state has got approval for Special Economic Zones. Besides, the state houses the development centers of a number of leading IT/ITES companies such as Infosys, Wipro, Mahindra-Satyam, MindTree Consulting and PricewaterhouseCoopers.
Andhra Pradesh: The state had second highest nominal GDP in India in the year 2011-12. It is known as the ‘rice bowl of India’ for its agricultural economy, the state in the recent years has contributed significantly to the services and manufacturing investments in India. The services sector employs 20 percent of the total work force and contributes to 43 percent of Gross State Domestic Product. The huge natural gas, petroleum and lime stones reserves are sure to attract investment to the state. Andhra Pradesh is India’s highest hydro electric power generating state. In 2011, Andhra Pradesh had IT exports amounting to $5.6 billion. The state is ranked number 5 in the list of most industry friendly states.
Bihar: The state has registered 11.95 percent annual growth rate in the 11th plan period-highest among all the states. In the year 2011-12, Bihar was India’s fastest growing state with a growth rate of 13.1 percent. The services industry contributes 73 percent to Bihar’s Gross State Domestic Product. Bihar is creating a place for itself in the brewing map of India with some of the big names in brewing industry setting their shop here. The brewing companies with investments in Bihar include- United Breweries Group, Carlsberg Group and Cobra Beer. The Bihar government has proposed to set up an IT city in Rajgir in Nalanda district. The state features at number 6 in the list of industry friendly states in India.