Guj most preferred investment destination: Study

Gujarat has emerged as the most preferred investment destination out of the 20 emerging industrial states in India, noted a recent study by industry body, Associated Chambers of Commerce and Industry of India (Assocham).

The state attracted highest number of investment proposals in India amounting to Rs 16.28 lakh crore, which is about 13.5 per cent of the total live investments worth Rs 120.34 lakh crore promised in India as on December 2011, the study revealed. The study was aimed at analyzing growth pattern of states during 2004-05 to 2009-10. Gujarat topped the list in terms of investments followed by Maharashtra, Andhra Pradesh, Odisha and Karnataka. These five states together, attracted 54 per cent of total investments in India, a statement issued by Assocham showed.

 

According to Assocham, out of the total proposals, Gujarat attracted 39.2 per cent in electricity, 24.2 per cent in manufacturing, 16.2 per cent in services, 14.3 per cent in real estate, 5.2 per cent in irrigation and 0.9 per cent in mining. While, nationally, the highest amount of investment went to electricity (35.9 per cent), manufacturing (25.3 per cent), services (21.8 per cent), real estate (11.8 per cent), irrigation (3.1 per cent), and mining (2.1 per cent).

Maharashtra attracted investments worth Rs 14.14 lakh crore, Andhra Pradesh and Odisha attracted Rs 12.09 lakh crore, worth of investments each and Karnataka attracted investments of Rs 9.85 lakh crore.

Other 15 states attracted total investments worth Rs 55.89 lakh crore, the study noted. "Investment in the primary sector represented by irrigation has the highest share in Andhra Pradesh, followed by Gujarat, Karnataka, Madhya Pradesh and Maharashtra," said D S Rawat, secretary general, Assocham.

The study, 'Investment and Growth Patterns Across 20 Major Indian States', jointly released in Ahmedabad by Rawat and Bhagyesh Soneji, chairperson, Gujarat Council.

The study was based on data available with the Central Statistical Office, Ministry of Statistics and Programme Implementation, Govt. of India and Centre for Monitoring the Indian Economy (CMIE).