South India's percapita income is 50% higher than rest of India, says investment expert
In South India women are the ``big investment driver ‘’
The average per capita income of South India is 50 percent higher than the rest of the country, says Rakshit Rajan, cofounder of Marcellus Investment Managers. About seven years back, it was about 30-35 percent higher.
In an interview with a national TV channel, he said it is mainly due to the availability of better-quality skilled workers.
Else, he said, it has a well-established infrastructure, so that companies can offer products and services that cater to the rising affluence of South India more than the rest of India. The region has achieved this by allocating more capital for infrastructure development.
Rajan was also of the view that in South India women are the ``big investment driver ‘’ To drive home his point, he pointed out the higher bank balance of woman IT professionals than those of their male counterparts in the profession. Similarly, he said, both savings and expenditures of working women in the South are phenomenal
He also pointed out higher literacy among the women in the South, which according to him, is now leading to an impact on the economy and will accelerate further in the upcoming decades