Major Indian states receive $2.21 trillion investments (in first six months alone)

Discussion in 'Economy & Infrastructure' started by ejazr, Dec 20, 2010.

  1. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    http://arabnews.com/economy/article219222.ece
    By WALID MAZI

    NEW DELHI: India recorded investments worth $2.21 trillion in 20 major states during the first half of 2010-11 fiscal, a significant increase from $1.74 trillion in 2009, according to latest data.

    According to India's Assocham Investment Meter (AIM) assessment report for corporate investments across states and sectors, Gujarat, Maharashtra and Orissa received a majority share of 13.2 percent, 11.4 percent and 11.2 percent respectively of the total investments.

    Though the initiatives reflected encouraging signs of pick up in investments and acceleration in the overall growth rate, "factors such as delay in infrastructure expansion plans, hurdles in legal procedures and political instability have adversely affected the implementation of these investment projects across the states," said D.S. Rawat, Secretary-General of Assocham.

    Rawat urged the central and state governments to take these issues on priority basis in order to realize the social and economic benefits of the investments through timely implementation of the line up projects.

    Gujarat, which remained on the top registering the highest share of 13.2 percent in domestic investment plans during the first half, attracted $292 billion worth of capex that was 17.3 percent higher as compared to the total investment realized in the state during the last fiscal.

    Also, the state attracted majority of investment plans in the power, manufacturing and services sectors.

    Similarly, Maharashtra wooed whopping investments worth $253.3 billion during the first half of this fiscal as the services and real estate attracted majority share of the investments, said the report.

    Orissa, which ranked among the top three states in attracting corporate investments on the back of rich mineral resources such as coal and iron ore along with cheap availability of manpower, bagged $249 billion during the first six months of this fiscal.

    Manufacturing and power companies received the major proportion of the investments in the state that recorded a hike of about 20 percent in overall investments over the previous year, Assocham said.

    Karnataka and Andhra Pradesh stood at fourth and fifth position by attracting investments worth $200.8 billion and $190.2 billion respectively during the period, it added.
     
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  3. Yusuf

    Yusuf GUARDIAN Administrator

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    Either the figure is in rupees and not dollars or if in dollars it would be billion and not trillion. Imagine investment more than GDP of india itself.
     
  4. sesha_maruthi27

    sesha_maruthi27 Senior Member Senior Member

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    Yusuf bhai is correct. It may not be dollars...........
     
  5. sob

    sob Moderator Moderator

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    These are figures committed on paper not necessarily translates into actual.

    For example in the annual business fairs held by the Gujrat CM the investment figures runs into Billions of dollars but in actual what translates is just a tiny part. This is due to the fact that most of the investment is in infrastructure and is committed over a period of 5 to 20 years.
     
  6. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    To clarify, these are just "commitments" made in those six months. Not actual dollar inflows. The inflow could be over a period of years.
     
  7. gogbot

    gogbot Regular Member

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    That seems more plausible.
    Maybe around 5-10 year , time frames
     
  8. sob

    sob Moderator Moderator

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    Still these are very good numbers. It is now the responsibility of the respective Central and State Govts to see that the projects get all the clearances and are executed in a strict time frame.
     

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