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Cover Story - South


Southern promise


Comprising Andhra Pradesh, Kar- nataka, Kerala, Pondicherry, and Tamil Nadu, South India has been an economic powerhouse over the past two decades. Together, these states score higher than the national average across several social and economic indicators, with Tamil Nadu, Andhra Pradesh and Karnataka leading the fray. This outstanding performance in the decade of 2000 to 2010 – across manufacturing and ser- vices sectors – places the region in a strong position for further growth.


As we step into the next decade, South India starts off on a sound


footing. While its GDP growth rate over the past decade has been at par with the all-India average, its growth in skill-intensive industries such as automotive manufactur- ing and sunrise sectors such as IT, ITES and biotech has outpaced the all-India average.


Despite its strong overall position, recent years have seen South India’s GDP growth rate slowing down, and in the case of Tamil Nadu and Andhra Pradesh, falling below the national average.


India is on its way to becoming a USD 2.8 trillion economy by 2020. Its share of services will be the


Top 5


• Bangalore • Hyderabad • Chennai • Kochi • Coimbatore


highest at 70 per cent, followed by industry at 20 per cent and agriculture at 10 per cent. As a re- sult, the country will be in the top five economies globally by 2020, and in the top three by 2030.


Setting the pace for all-India development South India can lead the growth of the country. Urbanisation rates in the region are higher than in the rest of India, and will further sustain high growth for the region to reach around USD 500 billion by 2016, andapproximately USD 650 billion by 2020. This is a robust, long- term growth opportunity.


GIREM 101 13


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