Gujarat Ranked Top Investment Destination in India
As per ASSOCHAM report, Gujarat remained as the top investment destination among the Indian states, registering the highest share of 13.2 percent in domestic investment plans during the period of April-September, 2010.
According to the ASSOCHAM Investment Meter (AIM) assessment report for corporate investments across states and sectors, released on 19 December 2010, the total investment plans of India Inc. increased from 7,971,464 crore rupees in 2009 to 10,097,472 crore rupees during the period of April-September, 2010.
As per ASSOCHAM report, Gujarat remained as the top investment destination among the Indian states, registering the highest share of 13.2 percent in domestic investment plans during the period of April-September, 2010. Gujarat attracted the investment plans worth of 1330743 crores, 17.3 percent higher than the total investment during the last year. The majority of investment plans were in the power, manufacturing and services sector of the state.
According to ASSOCHAM, Maharashtra was ranked number 2 investment destination after Gujarat. Maharashtra received 11.4 percent share of the total investments made during April-September 2010-11. The state attracted investment plans of 1154197 crore during that period. The Services and Real Estate were the sectors that got the majority share of the investments.
Orissa got the third position with 11.2 percent share of the total investments because of its rich mineral sources like coal and iron and easily available cheap labour. Orissa received investment amounting to 1134716 crore during the period April-September of the financial year 2010-11. The state recorded an increase of 20 percent in overall investments over the last year. As sectors, Manufacturing and Power companies received the large share of the investments.
Karnataka and Andhra Pradesh were ranked at fourth and fifth positions according to AIM assessment report. Karnataka received investment of 915060 crore rupees while Andhra got 866776 crore rupees. Karnataka had a share of 9.1 percent of the total investments. The Manufacture emerged as the prominent sector for receiving investment. Steel, real estate and textiles also received a fare share.
As per ASSOCHAM study, Power sector attracted the maximum investments of worth 3643883 crore rupees with a share of 35.4 percent of the total investment made across the country during April-September of current fiscal year.
The Manufacturing sector registered a growth of 26.3 percent during the period April-September 2010. Services sector emerged as the third priority sector which attracted investments of Rs. 2,162,950 crore, contributing 21.0 per cent in overall investments made during the concerned period.
According to ASSOCHAM estimates, other sectors which recorded significant corporate investments during April-September of 2010-11 were, Real Estate which attracted Rs. 1,172,823 crore (11.4 per cent), Mining Rs. 308,716 crore (3.0 per cent) and Irrigation Rs. 301,350 crore (2.9 per cent).