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Saturday, March 26, 2011

Gujarat leads GDP growth, South India slumps

Gujarat has reported the highest growth rate among Indian states, helped by its growth initiatives, while southern states have seen growth slumping, consultancy firm McKinsey & Co said in a report.

According to the report, Gujarat has witnessed growth rate of over 11 per cent against the 9 per cent average growth recorded by other Indian states.

Real GDP growth in Gujarat stood at 11.3 per cent as against 11 per cent in Haryana, 9.6 per cent in Bihar, 8.5 per cent in Karnataka, 8.1 per cent in Kerala and 7.4 per cent each in Andhra Pradesh and Tamil Nadu during the 2005-10 period, the report said.

South India has seen a slowdown in GDP growth rate, despite its overall strong position, McKinsey & Co Partner Ananth Narayan said.

The report was released at the conference `The Next Wave of Growth - South India', organised by the Confederation of Indian Industry.

Gujarat, Narayan said, has achieved leadership in the chemicals industry, with 35 per cent share of all investments in this sector over the past five years.

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