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Introduction |
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Haryana has been growing at a steady pace and is been recognised as one of the richest states in India and also is one of the most lucrative places for investment purpose. To what extent it has progressed economically can be judged from the fact that in terms of per capita income, the state stands at the third position. In the year 2006, the state’s per capita income stood at US$ 862.90 as against the national average of US$ 573.10.
It has the highest number of Special Economic Zones (SEZs) in the country; out of which 8 are notified , 29 have got formal approval and 28 have got in-principle approvals. Haryana is the first state in the country to introduce Value Added Tax in 2003. Key sectors in the state include automobiles and auto components, textiles and ready made garments, Information Technology (IT) and Information Technology Enabled Services (ITES). It is the chief producer of automobiles and its various components. It accounts for almost 50 percent in the total manufacturing of passenger cars.
It has recorded a remarkable growth in the GDP and touched US$ 30.11 billion in 2006-07 from 15.47 per cent in 1999-2000. Its tertiary sector has grown quite fast and is driven by growth in the IT and ITES sectors. Secondary sector growth is driven by manufacturing in sub-sectors like automobile, auto components, light engineering and textiles.
Two sectors that mainly contribute to the state's economy growth are dairy farming and production. GlaxoSmithkline and Yakult-Danone venture are major players in agro-processing. The state offers significant potential for agro-based industries, property development and retailing. With investment currently underway, it is expected to emerge as the principal hub for downstream chemicals in north India. It is the third largest exporter of software.
Advantage Haryana
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Third highest per capita income in the country.
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Situated in the National Capital Region, it has one of the largest trade and consumption centres in the country and shares proximity to the Indira Gandhi International Airport.
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Leading producer of automobiles and automotive components.
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Third largest exporter of software, it is one of the preferred destinations for IT/ITES facilities.
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Among the leading producers of textiles and readymade garments in India and largest exporter of basmati rice in the country.
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Has significant potential for property development and retailing.
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Content Source: www.ibef.org
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