AHMEDABAD: Gujarat has emerged as the most lucrative investment destination in India, attracting the highest number of live investment proposals worth over Rs 16.28 lakh crore.
Of the 20 industrial states, Gujarat clocked the highest share of over 13.52 per cent in the total live investments, according to a study released by apex industry body Associated Chambers of Commerce and Industry of India (Assocham)
"Out of the total proposals, Gujarat attracted 39.2 per cent in electricity, 24.2 per cent in manufacturing, 16.2 per cent in services, 14.3 per cent in real estate, 5.2 per cent in irrigation and 0.9 per cent in mining," said Bhagyesh Soneji, chairperson, Assocham Gujarat Council.
Soneji released the study titled 'Investment and growth patterns across major 20 Indian states' jointly along with Jay Ruparel, co-chairperson and DS Rawat, national secretary general, Assocham.
The study shows that Gujarat, Maharashtra, Andhra Pradesh, Odisha and Karnataka have clearly emerged as the preferred investment destinations by attracting almost 54 per cent of the total investments worth over Rs 120.34 lakh crore as of December 2011.
The highest amount of investment has gone into the sectors of electricity (35.9%), manufacturing (25.3%), services (21.8%), real estate (11.8%), irrigation (3.1%) and mining (2.1%).
Apart from Gujarat, Maharashtra attracted investments worth Rs14.14 lakh crore followed by Andhra Pradesh Rs. 12.09 lakh crore, Odisha Rs. 12.09 lakh crore, Karnataka Rs. 9.85 lakh crore and the remaining 15 states attracted total investment proposals worth Rs. 55.89 lakh crore.
The study observed that Tamil Nadu stood at sixth position by attracting investment proposals worth Rs. 9.13 lakh crore followed by Jharkhand which attracted investment proposals woth Rs. 7.16 lakh crore.
The remaining 13 states included West Bengal (Rs. 6.23 lakh crore), Madhya Pradesh (Rs. 5.65 lakh crore), Uttar Pradesh (Rs. 5.38 lakh crore), Haryana (Rs. 4.98 lakh crore), Chhattisgarh (Rs. 4.56 lakh crore), Rajasthan (Rs. 2.54 lakh crore), Bihar (Rs. 2.38 lakh crore), Punjab (Rs. 2.16 lakh crore), Kerala (Rs. 2.12 lakh crore), Jammu & Kashmir (Rs. 1.11 lakh crore), Uttarakhand (Rs. 1.07 lakh crore), Himachal Pradesh (Rs. 84,062 crore) and Assam (Rs. 58,179 crore).
Mining got the highest share in live investments in the states of Odisha, Andhra Pradesh, Jharkhand, Chhattisgarh and Madhya Pradesh. As opposed to this trend, mining sector got the least share in total investments in Uttarakhand, Punjab, Haryana, Bihar and Jammu and Kashmir.
Manufacturing is expected to achieve relatively higher growth to other sectors in the states of Odisha, Jharkhand, Gujarat, Karnataka, and West Bengal. Conversely, it got lower shares in Jammu and Kashmir, Uttarakhand, Himachal Pradesh, Punjab and Assam.
Electricity got the highest share of investments in the states of Gujarat, Odisha, Maharashtra, Andhra Pradesh and Tamil Nadu. The bottom five states to focus on electricity are Assam, Kerala, Jammu and Kashmir, Himachal Pradesh and Haryana.
Maharashtra, Tamil Nadu, Gujarat, Karnataka and Andhra Pradesh emphasize more on the development of services sector. The states of Chhattisgarh, Himachal Pradesh, Uttarakhand, Jharkhand and Assam have lesser focus on the sector.
Source: timesofindia.indiatimes.com
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