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Maharashtra top investment destination: Assocham
04
Jan '16
Maharashtra, Gujarat and Odisha emerged as most lucrative investment destinations between 2009 and 2014 accounting for over one-fourth share (26.6 per cent) of the total outstanding investments worth over Rs 154 lakh crore in various sectors from both public and private sources across major 21 states in India.

According to a study titled 'A Comparative Analysis of Investment Pattern in States,' conducted by economic research bureau of the Associated Chambers of Commerce and Industry of India (Assocham), Maharashtra bagged 10.2 per cent or Rs 15 lakh crore worth of investments compared to 9.2 per cent share attracted by Gujarat followed by Odisha at 7.2 per cent.

Karnataka attracted 6.8 per cent and Tamil Nadu 6.5 per cent of the total investments that grew from Rs 105 lakh crore in 2009 to Rs 154 lakh crore in 2014. Surprisingly, Gujarat recorded the least growth rate of just over two per cent amid the top 21 states, the study noted.

“Investment is the key driver of productivity and sustainability that leads to development and growth making most state governments strive to better the investment climate prevailing in their respective states to make them conducive to attract domestic and foreign investors,” said D.S. Rawat, secretary general of Assocham while releasing the report.

With investments worth over Rs 84.5 lakh crore, the private sector accounted for almost 55 per cent share in total investments, it said adding that investments in the public sector grew at a compounded annual growth rate (CAGR) of just over 11 per cent, while those in the private sector grew at just about five per cent during the five year period of December 2009-December 2014.

Private sector accounted for highest share of over 81 per cent in the total outstanding investments attracted by Haryana. While in Gujarat private sector accounted for 74 per cent share in total investments attracted by the state as on December 2014.

Infrastructure sector accounted for as much as 64 per cent of total investments made by public and private sectors (both foreign and domestic) across India followed by manufacturing (20 per cent), construction (9.5 per cent), mining (3.5 per cent) and irrigation (three per cent).

In Gujarat, infrastructure accounted for highest share of 57 per cent of its investments followed by manufacturing (25 per cent), construction (13 per cent), mining (three per cent) and irrigation (two per cent). At 11.5 per cent and 10 per cent, Gujarat attracted third highest investments in the manufacturing and construction & real estate sector across India, while it attracted fourth highest share of about eight per cent share in infrastructure sector investments.

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