The ‘State’ of affairs!

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According to the World Competitiveness Report 2006 (IMD Lausanne) – that measures countries and states in terms of economic performance, business efficiency, government efficiency and infrastructure – Maharashtra was remarkably ranked 37th, ahead of the states in countries like Brazil, Philippines, Korea, Italy, Indonesia, South Africa and Russia. And if one looks at the capital city Mumbai, the record looks even more impressive. Mumbai, the sixth largest metropolitan city in the world (geographically), contributes a whopping 33% to income tax, 40% to total foreign trade and a colossal 60% to the total customs duty collections in India. And just for the records, Mumbai is also home to 90% of all merchant banking activities of the country.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative