Domestic investment plans grow 16% in '09: Assocham

With the economy coming back on the growth path, investment proposals by India Inc saw an increase of about 16 per cent to Rs 15.94 lakh crore in 2009, an Assocham study has said.

"The robustness in corporate investment activity in India shows how competently the economy has managed to weather the storm of unprecedented global financial crisis," Assocham Secretary General D S Rawat said.

Total investment plans of Indian companies, which were surveyed by the industry chamber Assocham, increased significantly from Rs 13.80 lakh crore in 2008 to Rs 15.94 lakh crore in 2009 in sectors like power, real estate and infrastructure, the study said.

However, the chamber did not mention the number of companies surveyed.

Among the states which have received maximum investment proposals are Gujarat, Orissa and Andhra Pradesh, it said.

"Of the total proposed investments, Gujarat, Orissa and Andhra Pradesh carved out a majority share of 15.4 per cent, 12.6 per cent and 8.1 per cent respectively," it added.

Rawat said, the implementation of these investment projects has been hampered by a slew of hurdles including land acquisition problems and depressed expat market conditions.