The chief of India’s fastest-growing major state says it’s time to build wealth through factories instead of farmland.
Madhya Pradesh, a state larger than Italy and more populous than the U.K., must emulate China, Japan and South Korea to help its 73 million people become richer, Chief Minister Shivraj Singh Chouhan said in an Oct. 9 interview. The landlocked state’s economy grew 11 percent in the last financial year, twice as fast as the country as a whole, government data shows.
“In the field of agriculture, Madhya Pradesh has reached its peak,” Chouhan, a member of Prime Minister Narendra Modi’s Bharatiya Janata Party who has governed the state since 2005, said in Indore as he hosted an investment conference. “Now we need to move toward industrialization.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.