Kerala sees Rs 14,200 cr new investment proposals in FY13

According to the survey, India attracted 697 investment proposals to the tune of over Rs 140,000 cr during 2012-13 from domestic and foreign entrepreneurs

New investment proposals in Kerala, both from domestic and foreign entrepreneurs, jumped to over Rs 14,200 crore during 2012-13, making it the top state in terms of percentage growth and the only state to see a surge in investment intentions, according to a survey conducted by the Associated Chambers of Commerce and Industry of India (Assocham). The state, in the 2011-12 financial year, had received investment proposals to the tune of Rs 120 crore.

According to the survey, India attracted 697 investment proposals to the tune of over Rs 140,000 crore during 2012-13 from domestic and foreign entrepreneurs. The investment intentions, however, had declined from a significant level of 2,828 proposals worth about Rs 600,000 crore.

According to a state-wise analysis of investment intentions of foreign and domestic sources during the financial year 2012-13, carried out by Assocham,  the proposed investment intentions dried up by a whopping 75 per cent on a year-on-year basis.

Andhra Pradesh, Haryana, Karnataka, Tamil Nadu and Uttar Pradesh had seen a dip in investment intentions at a growth rate higher than the national average.

With a share of about 20 per cent in the proposed investment intentions, Maharashtra emerged as the most-preferred investment destination across India, attracting 149 proposals worth over Rs 28,500 crore, said Rajkumar Dhoot, president of Assocham while releasing the analysis.

Interestingly, the Naxal-hit state of Chhattisgarh was ranked second with about 19 per cent share, thereby attracting 21 proposals worth over Rs 27,000 crore. Gujarat was ranked third with a share of about 14 per cent with 106 proposals worth over Rs 19,800 crore.

Rajasthan was ranked fourth with a share of over 10 per cent with 41 proposals worth over Rs 14,929 crore, closely followed by Kerala which had seen a surge of about 10 per cent in the investment intentions.