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The top 10 states favoured by India Inc
If you think of states that are attractive business destinations, names such as Maharashtra, Delhi and Gujarat may come to your mind.
However, if you look at states that saw the maximum registration of new companies, none of these three top the chart. The state that occupies the No. 1 position may surprise you.
Let’s look at the states that saw the highest new company registration in 2011-12, according Ministry of Corporate Affairs.
Haryana
Rank: 10
Total registration of new private companies: 2,811
Total authorised capital of these companies: Rs 1,177.55 crore
Total number of functional companies: 12,256
The economy of Haryana relies on manufacturing, outsourcing, agriculture, and retail.
Thanks to Gurgaon, Haryana has seen emergence of an active information technology industry in the recent years.
A number of large international companies have their offices in Gurgaon including Nokia Siemens Networks, Mitsubishi Electric, General Electric, IBM, Huawei, and Tata Consultancy Services.
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The top 10 states favoured by India Inc
Rajasthan
Rank: 9
Total registration of new private companies: 3,596
Total authorised capital of these companies: Rs 391.71 crore
Total number of functional companies: 29,321
Rajasthan's economy is primarily agricultural and the state is among the biggest producers of edible oils in the country.
The main industries in the state are mineral based, agriculture based, and textiles. Several prominent chemical and engineering companies are also located in the city of Kota and the state is also the second largest source of cement in India.
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The top 10 states favoured by India Inc
Gujarat
Rank: 8
Total registration of new private companies: 4,673
Total authorised capital of these companies: Rs 1,615.69 crore
Total number of functional companies: 43,799
World’s largest grass-roots refinery is here and so is the world's largest shipbreaking yard.
Gujarat has recently recorded the highest agricultural growth rate in 10 years. In 2010, Forbes list of the world's fastest growing cities included Ahmedabad at number 3 after Chengdu and Chongqing from China.
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The top 10 states favoured by India Inc
Uttar Pradesh
Rank: 7
Total registration of new private companies: 5,171
Total authorised capital of these companies: Rs 650.53 crore
Total number of functional companies: 29,012
Agriculture is the leading occupation in Uttar Pradesh. Wheat is the state's principal crop and sugarcane is the main commercial crop. About 70 per cent of India's sugar comes from Uttar Pradesh.
The state is home to a number of major locomotive plants. Major manufacturing products include engineering products, electronics, electrical equipment, cables, steel, leather, textiles, jewellery, frigates, automobiles, railway coaches, and wagons are located here.
More small-scale industrial units are situated in Uttar Pradesh than in any other state, with 12 per cent of over 2.3 million units.
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The top 10 states favoured by India Inc
Karnataka
Rank: 6
Total registration of new private companies: 5,247
Total authorised capital of these companies: Rs 1,374.94 crore
Total number of functional companies: 40,388
Bangalore is known as the IT hub of the country and the state is the manufacturing hub for some of the largest public sector industries in India, including Hindustan Aeronautics Limited, National Aerospace Laboratories, Bharat Heavy Electricals Limited, Bharat Earth Movers Limited and HMT.
Karnataka also leads the nation in biotechnology. It is home to India's largest biocluster with majority of the country's biotechnology firms located here.
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The top 10 states favoured by India Inc
Andhra Pradesh
Rank: 5
Total registration of new private companies: 6,208
Total authorised capital of these companies: Rs 1120.18 crore
Total number of functional companies: 47,327
Andhra ranked fifth most industrially developed states in India and ranks second in terms of mineral wealth. The state also has about one third of India's limestone reserves.
After Karnataka, Andhra Pradesh had been in the top list of information technology exporting states.
Key sectors include, biopharmaceuticals, power, automobile, tourism, textiles, retail, leather, mining and religious tourism.
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The top 10 states favoured by India Inc
Tamil Nadu
Rank: 4
Total registration of new private companies: 6,211
Total authorised capital of these companies: Rs 2,102.30 crore
Total number of functional companies: 55,632
Tamil Nadu is the second largest contributor to India's GDP and is the second most industrialised state in the country.
It ranks third in foreign direct investment (FDI) approvals, next only to Maharashtra and Delhi.
Government is the major investor in the state with over 50 per cent of total investments, followed by private Indian investors and foreign private investors.
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The top 10 states favoured by India Inc
Maharashtra
Rank: 3
Total registration of new private companies: 16,217
Total authorised capital of these companies: Rs 6,371.26 crore
Total number of functional companies: 158,812
Maharashtra has three of fifteen most important cities of India. These include Mumbai, Pune and Nagpur. Over 41 per cent of the CNX 500 conglomerates have corporate offices in Maharashtra.
Maharashtra is India's leading industrial state contributing 15 per cent of national industrial output and over 40 per cent of India's national revenue.
Major industries in Maharashtra include chemical and allied products, electrical and non-electrical machinery, textiles, petroleum and allied products.
It is also the financial capital of the country and second largest exporter of software products.
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The top 10 states favoured by India Inc
Delhi
Rank: 2
Total registration of new private companies: 16316
Total authorised capital of these companies: Rs 4,260.80 crore
Total number of functional companies: 159,299
Delhi is the largest commercial centre in northern India.
Key service industries are information technology, telecommunications, hotels, banking, media and tourism.
Construction, power, health and community services, and real estate are also important to the city's economy.
Delhi has one of India's largest and fastest growing retail industries.
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The top 10 states favoured by India Inc
West Bengal
Rank: 1
Total registration of new private companies: 16,477
Total authorised capital of these companies: Rs 1826.21 crore
Total number of functional companies: 121,146
Though agriculture is the leading occupation, service industries have been the largest contributor to the gross domestic product of the state.
The key industries of the state include engineering products, electronics, electrical equipment, cables, steel, leather, textiles, jewellery, frigates, automobiles, railway coaches, and wagon.
The state has promoted foreign direct investment, which has mostly come in the software and electronics fields.
Nasscom–Gartner ranks West Bengal power infrastructure the best in the country.
Notably, many corporate companies are now headquartered in Kolkata include ITC Limited, India Government Mint, Kolkata, Haldia Petrochemicals, Exide Industries, Hindustan Motors, Britannia Industries, Bata India, Birla Corporation, CESC Limited, Coal India Limited, Damodar Valley Corporation, PwC India, Peerless Group, United Bank of India, UCO Bank and Allahabad Bank.