Private sector accounts for half of investments attracted by Maharashtra: ASSOCHAM


savings_results_1521843cPrivate sector accounts for about 50 per cent of the total outstanding investments worth over 14 lakh crore attracted by Maharashtra as of December 2012, apex industry body ASSOCHAM stated recently.

With a share of over nine per cent in the total investment commitments made by the domestic and foreign private sources across India, Maharashtra has attracted private sector investments worth over  7 lakh crore as of December 2012, according to a sector specific analysis titled ‘Composition of Outstanding Private Investments Across States,’ released by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

“With investment proposals worth over  75 lakh crore, the private sector accounts for over 62 per cent of the total outstanding investments attracted by India worth about  122 lakh crore during the aforesaid period,” said D.S. Rawat, national secretary general of ASSOCHAM while releasing the chamber’s analysis.

“Inflow of private investments is influenced by bureaucratic efficiency, infrastructure facilities and ease of land acquisition and is decided by attractiveness of investment opportunities as they are mostly driven by profitability considerations,” said Rawat. “Besides, tax concessions, product market conditions and exit policies are certain effective tools of private investment attraction.”

While the private sector accounts for about 85 per cent of the total outstanding investments worth about  7 lakh crore attracted by Jharkhand, the states of Haryana, Gujarat and Chhattisgarh are other top states where private sector accounts for a share of about 70 per cent and above in total investments attracted by the state.

Acquiring a share of about 14 per cent in the total outstanding private sector investments worth over  75 lakh crore (including both domestic and foreign private sources), Gujarat has ranked on top for attracting maximum private investments across India as of December 2012.

Of the total outstanding investments attracted by the state of Gujarat worth over  14 lakh crore, the foreign and domestic private sources account for over  10 lakh crore thereby registering a share of over 71 per cent, highlights the ASSOCHAM analysis.

With a share of about 12 per cent in the total private sector investments attracted by India, Odisha ranks second with private investment commitments worth over  8 lakh crore. Besides, private sources account for over 75 per cent of the total investments worth over  11 lakh crore attracted by the state.

Andhra Pradesh closely followed by Maharashtra and Karnataka rank amid top five states attracting maximum investment proposals from private sources.

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

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

Source: http://www.projectvendor.com/

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Categorised in: Banking and Investment, Sector News

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