Odisha third most preferred for investment in India: Assocham

Odisha is the third most preferred investment destination in the country after Maharashtra and Gujarat, industry body Assocham said on Wednesday.

The state has registered a positive growth both in manufacturing and services sectors.

"With a share of over 7 percent, Odisha has attracted outstanding investments worth about Rs.12 lakh crore out of the total investments worth over Rs.158 lakh crore attracted by various sectors from both public and private sources in top 21 states on March 31, 2015," Assocham's secretary general D.S. Rawat told reporters here.

He released a study by the industry body titled 'Realising economic potential of Odisha: A comparative investment analysis'.

He said Maharashtra and Gujarat remained ahead of Odisha with a share of 9.7 percent and 9.5 percent respectively in the total outstanding investments.

Manufacturing sector accounted for the highest share of about 45 percent in the total outstanding investments attracted by Odisha which augurs well for the state to sustain its economic growth in the long run.

Electricity (33 percent), non-financial services (11.6 percent) and mining (8.5 percent) are other sectors that have garnered significant share in total outstanding investments attracted by the state, he said.

Odisha ranks as the fastest growing state in attracting tourists by registering about 133 percent jump in the last 10 years, he added.