Maharashtra, Karnataka, Gujarat, and Andhra Pradesh and Tamil Nadu, were named the top 5 states in overall economic development in the country, according to Frost & Sullivan development index.
Tamil Nadu was ranked second for the third consecutive year in the “Growth, Innovation and Leadership (GIL) Index for Economic Development in India”, a data-driven framework developed by Frost & Sullivan.
Frost & Sullivan released the third edition of its GIL Index for Economic Development in India, for 2019. This year, Maharashtra, Karnataka, Gujarat, and Andhra Pradesh, along with Tamil Nadu, were named the top 5 states in overall economic development in the country. Tamil Nadu’s high rank was an outcome of its impressive scores across all 10 pillars of analysis.
This annual index developed by Frost & Sullivan essentially evaluates India’s 30 states and union territories on 100 indicators across parameters such as economic prosperity and infrastructure development, employing an indexing methodology to facilitate state-wise comparisons.
Aroop Zutshi, Global President & Managing Partner, Frost & Sullivan, said, “The GIL framework not only gives us an overarching unique ranking, but it also encapsulates 100 different dimensions, which can be easily sliced and diced to uniquely identify state-specific growth pockets and investment opportunities.”
The research involved the collection of data for 100 indicators across 10 pillars. The diversity of indicators ensured that states were evaluated using a multidimensional approach as opposed to a one-sided approach. An indexing methodology was then employed to generate the rankings.