Maharashtra and Gujarat have been identified as the best investment climate states in the country, a study conducted by the Confederation of Indian Industry (CII) and the World Bank said.
While Andhra Pradesh, Karnataka and Tamil Nadu were found to have good investment climate by the survery, Delhi and Punjab had medium investment climate and Uttar Pradesh, Kerala and West Bengal lagged behind with poor investment climate.
The study was conducted across 10 states of India and was based on responses from plant heads of 1099 manufacturing firms.
The study also said that though India figured among the aggressively globalising developing countries, the per capita growth registered by India during the 1990s at 3.7 per cent was lower than that of China with a per capita growth of 8.8 per cent during the same period.
It added that such variations in growth could be due to the fact that greater openness to trade and investment needed to be complimented with a host of other institutional, regulatory and infrastructural reforms to foster good investment climate.
