Mumbai, India, October 17, 2017 – Frost & Sullivan recently concluded its 9th edition of Growth Innovation & Leadership (GIL) India 2017 Summit in Mumbai, having the theme “Digital Transformation: Business and Social Impact”. At the Summit, CXOs across industries convened to discuss how disruptive innovation is reshaping industries and how organizations need to digitally re-imagine their business initiatives to fulfill digital transformation mandates. It served as the perfect platform to announce the results of Frost & Sullivan’s first Annual “Growth Innovation Leadership (GIL) Index for Economic Development in India” for 2017.
The GIL Index for Economic Development in India ranked Maharashtra as the number one State demonstrating overall economic development. The second and third places in the index were secured by Tamil Nadu and Karnataka, respectively.
To know more about Frost & Sullivan’s Annual “Growth Innovation Leadership Index for Economic Development in India”, please mail Priya George, Corporate Communications at priyag@frost.com
Ms. Shweta Shalini, advisor to the Honorable Mr. Devendra Fadnavis, Chief Minister of Maharashtra was present to receive the award on behalf of Maharashtra State Government. A government policy implementation expert, she heads several committees under the CM’s office and runs a successful Section 8 Company – the Village Social Transformation Foundation. The Award is a testimony to the commitment of State Governments of Maharashtra, Tamil Nadu and Karnataka for focusing on for inclusive economic growth and development.
Talking about the recognition, Prerna Mohan, Associate Director, Frost & Sullivan said, “Economic development must be viewed in entirety and not just as a function of growth. Digitization, education, employability are equally important for any state economy to advance. Through the GIL Index for Economic Development, Frost & Sullivan acknowledges and recognizes the most progressive states in India.”
On the occasion Ms. Shalini said, “Under the able leadership of Devendra Fadnavis Ji, Maharashtra is taking the lead in effectively using technology to deliver accountability and efficiency in good governance.”
This research-based index evaluated each of India’s 29 states across 100 indicators and facilitated state-wise comparisons. It followed a robust, data driven indexing methodology that weighed the indicators of each state over 10 pillars, which are:
- Digitization
- Economic Prosperity
- Educational Attainment
- Government Effectiveness
- Investment Potential
- Women Empowerment
- Infrastructure Development
- Employment Efficiency
- Health Improvement
- Mobility Measures
The index was constructed based on identifying key components of economic development. Once data for the 100 indicators was analyzed, our economists created an indexing methodology that assigned weights to each indicator based on its relevance/importance to economic development. Using scaled data, a weighted average for each state was calculated based on which the states were ranked. Maharashtra ranked #1 in overall economic development, and also in the individual pillars of infrastructure development, economic prosperity and Government effectiveness.
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