In a comparative study of productivity and profitability in western states, Goa tops the region with labour and capital here being more productive than in Maharashtra.
However, wages of workers are higher in Maharashtra compared with wages in Goa.
Factories are, on an average, more profitable in Goa than in Maharashtra or Gujarat and the interest cost of capital is the lowest in the state.
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Average profitability of factories in the organised sector is 178 per cent higher in Goa than in Maharashtra. Gujarat, with an average profitability of Rs 2.45 lakh, comes in way behind the Rs 44.38 lakh figure for Goa. In Maharashtra, factories earn an average profit of Rs 15.97 lakh.
Real value added per worker in Goa is Rs 1,41,597.9 as opposed to Rs 98,418 in Maharashtra and Rs 66,530 for Gujarat. Value added per rupee of capital is 0.19 in Goa, 0.15 in Maharashtra and 0.09 in Gujarat, according to the Annual Survey of Industries data for 1997-98 released by the Central Statistical Organisation.
Interest cost per rupee of capital is highest in Gujarat at 0.044 and lowest in Goa at 0.028. Maharashtra comes second with an interest cost per unit of capital of 0.02.
Profit per factory is also highest in Goa with each factory earning a profit of Rs 44.4 lakh on an average. Maharashtra comes in second with an average profit earning of Rs 15.97 lakh and Gujarat is a distant third with Rs 2.45 lakh per factory.
However, the excellent performance of Goa, benefits only the 341 factories and 19,000 workers in the organised sector in the state. In comparison, the organised sector in Maharashtra comprises over 20,500 factories, which provide employment to 10.4 lakh people. Gujarat has 13,386 factories which employ almost 6.6 lakh people. ed