Maharashtra

IIPM’s 36th Glorious Year of Academic Excellence

You might have seen this place in films or you might have heard more about it from someone who knew less. But yes, humans flock to this destination. Surprising though; it’s not the call of the wild! samar sharma on a trip to this human jungle...

When you think of Mumbai, think movies... We’d like to change this one – when you think of Mumbai think Maharashtra, movies and much more! Listen to what gets Hitesh Patel, Executive VP, Kingfisher Airlines glued to the city – “One has to look out for infrastructure before investing. Mumbai and therefore Maharashtra, is the most lucrative destination for investment in the country. Everyone wants to come here and do business...’’ Literally speaking, he is no different from the millions who flock to the ‘land of dreams’, everyday.

According to the Gallup Survey 2003 and FICCI-FDI Survey 2005, Maharashtra has been recognised as the top state destination for investments. The state today boasts of about 58 SEZs in total – one of the largest in the country. The SEZ schemes carry huge incentives and are transparent, therefore attracting capitalists from all across the world. Even otherwise, the government has drafted widely-acceptable policies to create an investor-friendly environment as Vikram Akula, Founder & CEO, SKS Microfinance Pvt. Ltd. asserts, “Maharashtra is the third state we invested in as it has a huge untapped market. The government has always been cooperative & doesn’t interfere in our projects. With an investment of Rs.296 crore and with a member count of 2.3 lakh we will only increase our investments in this state.’’ Textile zones like Butibori and Ambarnath are perfect examples of the infrastructural growth in the sector which commands around Rs.2,400 crore in annual investment at the state level. This top cotton producing state plans to achieve textile exports worth $50 billion by 2010; quite achievable as experts feel. Next, to talk of the Mumbai airport (which controls 35% of the country’s total freights), the Mumbai International Airport Ltd. is doing a good job, connecting Mumbai to the world. Mumbai also accounts for 90% of India’s merchant banking transactions, and yes, the BSE and NSE are bloodlines for India Inc!

IT and ITeS are another platform that Maharashtra banks on today (thanks to the Pune IT hub). Educational institutions, film industry, art and culture, beaches, wildlife and therefore tourism & agri-tourism, these three definitely help the state government earn for all its worth. Of late, the government also has private players to build better infrastructure.

There is however a problem with the state today – that of an ever-growing population. Mumbai is more or less choked and other cities like Pune are following suit.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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