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Good growth of proposed industrial investments

By Staff Reporter
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GUWAHATI, Jan 18 ��Assam�is among the states that have registered significant year-on-year growth in terms of proposed industrial investments, industry body The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said.

There has been a sharp decline of about 20 per cent year-on-year in total amount of proposed industrial investments nationally comprising industrial entrepreneurs memorandum (IEMs), letter of intent (LOIs) and direct industrial licenses (DILs) received by states across India in various sectors, according to a recent analysis of figures from Department of Industrial Policy & Promotion (DIPP) under the Union Ministry of Commerce and Industry conducted by ASSOCHAM Economic Research Bureau (AERB).

�� other states that registered significant growth in terms of proposed investments included �Punjab (184 per cent), Karnataka (166 per cent), Himachal Pradesh (108 per cent) and�Assam�(25 per cent),� it said.

The report said, �India received 1,421 industrial investment proposals worth Rs 3,62,805 crore in this calendar year till September which had declined significantly from 1,906 proposals worth Rs 4,51,643 crore in the corresponding period last year.�

Chhattisgarh acquired lion�s share of about 45 per cent in the total amount of proposed investments with 24 investment proposals worth Rs 1,61,836 crore which had increased from Rs 31,067 crore, thereby clocking a year-on-year growth rate of over 420 per cent.

Maharashtra (8.9 per cent), Gujarat (8.8 per cent), Odisha (5.9 per cent), Karnataka (5.4 per cent) and Andhra Pradesh (5.1 per cent) are other leading states in terms of share.

However, Madhya Pradesh, Odisha and Gujarat have registered significant decline in their share in total investment proposals.

Services, construction development, telecommunications, computer software and hardware, drugs and pharmaceuticals, automobiles, chemicals (other than fertilizers), power, metallurgical industries, hotel and tourism are amid top 10 sectors attracting foreign directinvestments (FDI) into India, as per the analysis.

Mauritius, Singapore, United Kingdom, Japan, Netherlands, United States of America, Cyprus, Germany, France and Switzerland are top investing countries in India, it added.

ASSOCHAM has suggested to the Government to devise a mechanism to facilitate a consultation between the Centre and state governments before rolling out a policy to ensure that decision once taken does not get affected.

It has also called for a time-bound, non-discretionary, simplified and less number of procedures and approvals to help uplift the overseas investors� confidence and foster more investments in India.

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Good growth of proposed industrial investments

GUWAHATI, Jan 18 ��Assam�is among the states that have registered significant year-on-year growth in terms of proposed industrial investments, industry body The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said.

There has been a sharp decline of about 20 per cent year-on-year in total amount of proposed industrial investments nationally comprising industrial entrepreneurs memorandum (IEMs), letter of intent (LOIs) and direct industrial licenses (DILs) received by states across India in various sectors, according to a recent analysis of figures from Department of Industrial Policy & Promotion (DIPP) under the Union Ministry of Commerce and Industry conducted by ASSOCHAM Economic Research Bureau (AERB).

�� other states that registered significant growth in terms of proposed investments included �Punjab (184 per cent), Karnataka (166 per cent), Himachal Pradesh (108 per cent) and�Assam�(25 per cent),� it said.

The report said, �India received 1,421 industrial investment proposals worth Rs 3,62,805 crore in this calendar year till September which had declined significantly from 1,906 proposals worth Rs 4,51,643 crore in the corresponding period last year.�

Chhattisgarh acquired lion�s share of about 45 per cent in the total amount of proposed investments with 24 investment proposals worth Rs 1,61,836 crore which had increased from Rs 31,067 crore, thereby clocking a year-on-year growth rate of over 420 per cent.

Maharashtra (8.9 per cent), Gujarat (8.8 per cent), Odisha (5.9 per cent), Karnataka (5.4 per cent) and Andhra Pradesh (5.1 per cent) are other leading states in terms of share.

However, Madhya Pradesh, Odisha and Gujarat have registered significant decline in their share in total investment proposals.

Services, construction development, telecommunications, computer software and hardware, drugs and pharmaceuticals, automobiles, chemicals (other than fertilizers), power, metallurgical industries, hotel and tourism are amid top 10 sectors attracting foreign directinvestments (FDI) into India, as per the analysis.

Mauritius, Singapore, United Kingdom, Japan, Netherlands, United States of America, Cyprus, Germany, France and Switzerland are top investing countries in India, it added.

ASSOCHAM has suggested to the Government to devise a mechanism to facilitate a consultation between the Centre and state governments before rolling out a policy to ensure that decision once taken does not get affected.

It has also called for a time-bound, non-discretionary, simplified and less number of procedures and approvals to help uplift the overseas investors� confidence and foster more investments in India.