TN sees 44% rise in Q3 investments

Investment in Tamil Nadu’s mining sector rose eight-fold during the third quarter of 2009-10 to touch Rs 1.48 lakh crore from Rs 15,763 crore in Q2, according to Assocham.

D S Rawat, secretary general, Assocham, said the power sector also reported a sharp growth in investments in Q3, when the total investment, including public and private, doubled to Rs 4.06 lakh crore (Rs 2.22 lakh crore). On the other hand, services, irrigation and real estate sectors registered a decline in Q3 due to a variety of reasons.

The state saw a 44 per cent jump in total investments in the said quarter, of which the power sector had the largest share of 42.7 per cent followed by manufacturing with 34.6 per cent. The state also emerged as a major destination for foreign investments primarily in automobile, electronics and cement sectors.

Tamil Nadu received 8.6 per cent of the total public sector investment in the country and five per cent of private investment. Infrastructure and existing industrial base were among the factors that attracted investors.