State, fifth most-favoured destination for FDI

Aug 29, 2012 |

Bengaluru

Tags:

Karnataka has emerged as the fifth most favourite investment destination across India for overseas investors, the apex industry body, Associated Chambers of Commerce and Industry of India (ASSOCHAM) announced here on Tuesday. With about 8 per cent share in the total foreign direct investment (FDI) proposed in 2011-12, totaling Rs 14,000 crore from about 48 FDI proposals, Karnataka ranks fifth in a state-wise analysis of FDI proposals filed in India during 2011-12, according to the ASSOCHAM findings.

"A total of 763 FDI proposals worth over Rs 1.78 lakh crore were filed across various states in India during 2011-12. Services, telecommunications, construction, computers (software and hardware), real estate and housing, chemicals, drugs and pharmaceuticals, power, automobiles and metallurgical industries are certain sectors attracting highest FDI inflows across India", said Mr Ravi Sannareddy, chairperson of ASSOCHAM's Southern Regional Council, while releasing the findings.

According to the analysis, with over 27 per cent share in total foreign direct investment (FDI) proposed in 2011-12, Odisha has emerged as the most favorite investment destination for overseas investors. Though, barely 17 FDI proposals were filed in Odisha, the state garnered a lion's share worth about Rs 49,527 crore in total FDI proposals across India.

With proposed investments worth about Rs 33,936 crore, Andhra Pradesh ranked second with a share of about 19 per cent from 70 proposals. Gujarat got the second highest number of 131 FDI proposals and ranked third with a share of over 11 per cent attracting investment worth Rs 20,258 crore, followed by Chhattisgarh with proposals worth over Rs 20,000 crore. Maharashtra though got the highest number of FDI proposals of 144, but the state ranked sixth with investments worth over Rs 12,000 crore.

ASSOCHAM has also recommended to the government to devise a mechanism to facilitate consultation between the Centre and State governments before rolling out a policy to ensure that a decision, once taken, is not affected.

Post new comment

<form action="/comment/reply/184659" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd></li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-ff16272d58ded8bb6c1458aaa3bf059e" value="form-ff16272d58ded8bb6c1458aaa3bf059e" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="86766142" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>