Gujarat tops in private investment in country at 73 percent

Ahmedabad, April 12: Due to bureaucratic efficiency and infrastructure facilities, Gujarat attracted 73 percent investment from private sector in 2012. Of the total investment worth over Rs 14 lakh crore as of December 2012, foreign and domestic private sources account for over Rs 10 lakh crore, which is about 73 percent.

Gujarat was ranked on top for attracting maximum private investments across India as of December 2012, according to a sector specific analysis titled 'Composition of Outstanding Investments Across States,' carried out by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

According to the industry body ASSOCHAM, Jharkhand, Haryana, Orissa and Chhattisgarh are other top states where private sector accounts for a share of about 70 percent and above in total investments attracted by the state.

"With investment proposals worth over Rs 75 lakh crore, the private sector accounts for over 62 percent of the total outstanding investments attracted by India worth about Rs 122 lakh crore during the aforesaid period," said Bhagyesh Soneji, chairperson of the ASSOCHAM Gujarat Council while releasing the chamber's analysis.

Gujarat's share in private investments across India has increased from about 12.5 percent in total private investments attracted by India as of June, 2012 to about 14 percent as of December 2012.

"This portrays the bureaucratic efficiency, infrastructure facilities and ease of land acquisition in Gujarat which has influenced the inflow of private investments that are mostly driven by profitability considerations," said Soneji.

With a share of about 12 percent in the total private sector investments attracted by India, Odisha ranks second with private investment commitments worth over Rs eight lakh crore. Besides, private sources account for over 75 percent of the total investments worth over Rs 11 lakh crore attracted by the state.

Andhra Pradesh closely followed by Maharashtra and Karnataka are among top five states that attract maximum investment proposals from private sources.

With a share of about 9.4 percent and 9.3 percent, Andhra Pradesh and Maharashtra both have attracted private investments worth over Rs 7 lakh crore. Karnataka has attracted private investments worth over Rs 6 lakh crore.

Himachal Pradesh, Jammu and Kashmir, Uttarakhand and Assam account for a share of less than one per cent in the total private investment commitments attracted by India.

OneIndia News

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