Gurgaon garners 70% share in investments attracted by Haryana

With investments worth Rs 3.5 lakh crore, Gurgaon accounted for almost 70 per cent of the total inflows of Rs 5 lakh crore attracted by Haryana till the last fiscal (FY 2014-15), according to a study by Assocham.
Besides, robust industrial development in Gurgaon during past two decades has increased its share in total tax collected by Haryana by almost 200 times i.E. From just about Rs 17.5 crore in 1990-91 to over Rs 3,445.5 crore in 2012-13, the study found.
Gurgaon has also registered faster implementation of investment projects as almost 95 per cent of these projects are under different stages of implementation while only about five per cent of investment projects have remained non-starter, highlighted the study.

"If another futuristic city can be created on the lines of Gurgaon which is often known as a symbol of rising new India, owing to emergence of international commercial hub like Cyber City, it will help increase Haryana's revenues by more than three times its current level," said Assocham Secretary General D S Rawat.
"Factors like availability of skilled manpower and proximity to strong consumption markets in north India have helped Gurgaon evolve as a manufacturing and industrial hub attracting investments mainly from private sector in information technology (IT), ITeS, mechanical, electrical, textile, chemical and other sectors," he added.
However, Faridabad's share in total investments attracted by Haryana has remained less than even one per cent during past 20 years. Besides, projects comprising over 93 per cent of investments attracted by Faridabad remained non-starter till 2014-15.

Gurgaon's share in the number of people employed in factories had increased by over five times have i.E. From about six per cent in 1991 to about 32 per cent in 2013 while share of Faridabad in this regard had decline from over 45 per cent to 25.5 per cent, the study pointed out.

Share of Gurgaon in exports from Haryana has also increased significantly from 38.5 per cent in 1997-98 to 62.5 per cent in 2013-14 while that of Faridabad had declined from about seven per cent to about three per cent.
In terms of revenue generation for the state exchequer, Gurgaon's share in total value added tax collected by Haryana government had increased from 5.5 per cent in 1990-91 to about 24 per cent in 2012-13 while the share of Faridabad declined from 20 per cent to about 17 per cent.

In terms of contribution to central sales tax, Gurgaon's share has increased from 21 per cent to about 26 per cent while Faridabad's contribution in this regard has almost halved from 30.5 per cent to 15 per cent.