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India pins Rs 2,196,28 cr industrial investment proposals in 2012-2013

West Bengal's share slides from 5% to 1.35%

Namrata Acharya  |  Kolkata 

India received proposals worth Rs 219628 crore from some 1149 industrial undertakings in this calendar year till May, according to the data from the ministry of commerce and industry till May 2013.

cornered almost 25 per cent of the total investment proposals this year, while as many as 18 states individually accounted for less than one per cent of the total investments, pointing rising disparity among states in terms of industrialisation.

That Mahrashtra, which boasts the financial capital of India, accounted for second highest number of investment proposals, should not come as a surprise.

In bleak contrast Gujarat, is the north-eastern state of Nagaland, which has received zero investment proposal so far in 2013. Other North eastern states are no better off. Mizoram accounted for 0.01 per cent, Meghalaya for 0.04 per cent, Manipur for 0.01 per cent, Sikkim for 0.05 per cent, Arunachal Pradesh for 0.16 per cent, Assam for 0.52 per cent and Tripura for 0.02 per cent of the total investment proposals.

The saving grace for eastern states comes from Chhattisgarh (located in east-central India), which received third highest number of industrial proposals till May 2013, accounting for 13.39 per cent of the total investments.

In West Bengal, Chief minister might go places showcasing the state as an investment destination, but data paints a bleak picture of investment scenario in the state--a sharp decline compared to 2005.

West Bengal, which in 2005 accounted for more than 5 per cent of investment proposals, has been consistently sliding down the investment chart. The state accounted for 1.35 per cent of the total investment proposals to May 2013.

Orissa accounted for has 3.19 per cent of total investments till May 2013, against 11.20 per cent in calendar year 2012.

Bihar turnaround story might be a subject of academic discourse, but the industrialisation scenario remains challenging.

The state accounted for merely 0.45 per cent of the total investment proposals received so far this calendar year. The share of Jharkhand in total investment proposals received in 2013 so far was 1.87 per cent.

In 2012, India received proposals worth Rs 567868 crore for the full year. Last year too, Gujarat, Chhattisgarh and Maharsahtra were the top three states in terms of investment proposals from industrial undertakings.

The data under consideration covers Industrial Entrepreneurs Memorandum (IEM) filed, Letters of Intent (LoI)/ Direct Industrial Licenses (DILs) issued by DIPP.

First Published: Sun, August 18 2013. 20:30 IST