With over 11 per cent share in the total foreign direct investment (FDI) proposed in 2011-12, Gujarat has emerged as the third most favorite investment destination for overseas investors after Odisha Andhra Pradesh (AP) across India, according to Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Gujarat got the second highest number of 131 FDI proposals attracting proposed investment worth Rs 20,258 crore, according to a state-wise analysis of the proposed FDI and the number of FDI proposals filed in India during 2011-12 carried out by industry body.
With over 27 per cent share in the total foreign direct investment (FDI) proposed in 2011-12, Odisha has emerged as the most favorite investment destination for overseas investors across India.
Though, barely 17 FDI proposals were filed in Odisha, the state garnered lion's share worth about Rs 49,527 crore in the total FDI proposed across India, according to the ASSOCHAM analysis. In all, 763 FDI proposals worth over Rs 1.78 lakh crore were filed across various states in India during the aforesaid period.
Sectors that attracted the highest FDI inflows included services, telecommunications, construction, computers (software and hardware), real estate and housing, chemicals, drugs and pharmaceuticals, power, automobiles and metallurgical industries.
Attracting FDI proposals worth about Rs 33,936 crore, Andhra Pradesh ranked second with a share of about 19 per cent as about 70 proposals were filed by the foreign investors in the state.
Chattisgarh and Karnataka ranked fourth and fifth of the top five investment destinations from the foreign investors’ point of view and got FDI proposals worth over Rs 20,000 crore and 14,000 crore respectively.
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Maharashtra though got the highest number of FDI proposals of 144 but the state ranked sixth with proposed FDI worth over Rs 12,000 crore.
Of the top twenty states, West Bengal ranked 14th only above states like Bihar, Uttarakhand, Jharkhand, Jammu and Kashmir, Assam and Kerala and managed 24 FDI proposals worth a meager Rs 1,243 crore, according to the ASSOCHAM study.
Rajasthan, Tamil Nadu, Himachal Pradesh, Uttar Pradesh, Haryana, Madhya Pradesh and Punjab stayed ahead of West Bengal and attracted FDI proposals worth between Rs 8,600 crore and Rs 1,200 crore during the FY’ 11-12.