Karnataka has emerged as the fifth most lucrative investment destination attracting investment proposals worth Rs 9.85 lakh crore at the end of 2011, industry body Assocham said today. Karnataka has clocked 8.18% in the total live investments worth Rs 120.34 lakh crore at the end of the year, according to The Associated Chamber of Commerce and Industry of India (ASSOCHAM).
"Out of the 20 industrial states, Gujarat, Maharashtra, Andhra Pradesh, Odisha and Karnataka have clearly emerged as the preferred investment destinations by attracting 53.56% of the total live investments," said D S Rawat, national secretary general of ASSOCHAM. Out of the total investment proposals Karnataka attracted 38.9% in manufacturing, 24.6% in services, 15.2% in real estate, 5.6% in irrigation and 1.5% in mining.
Gujarat with 16.28 lakh crore has emerged as the most preferred investment destination followed by Maharashtra Rs.14.14 lakh crore, Andhra Pradesh Rs.12.09 lakh crore, Odisha Rs 12.09 lakh crore, Karnataka Rs. 9.85 lakh crore and the remaining 15 states attracted total investment proposals worth Rs 55.89 lakh crore.
As regards the share of electricity, the sector has got the highest share of investments in the states of Gujarat, Odisha, Maharashtra, Andhra Pradesh and Tamil Nadu. The bottom five states to focus on electricity are Assam, Kerala, Jammu and Kashmir, Himachal Pradesh and Haryana. Maharashtra, Tamil Nadu, Gujarat, Karnataka and Andhra Pradesh emphasise more on the development of services sector. The states of Chhattisgarh, Himachal Pradesh, Uttarakhand, Jharkhand and Assam have lesser focus on services sector.
Out of the total proposals, Gujarat attracted 39.2% in electricity, 24.2 in manufacturing, 16.2% in services, 14.3% in real estate, 5.2% in irrigation and 0.9% in mining.
Out of the total proposals, Maharashtra attracted 37.1% in services, 31.7% in electricity, 18.7% in real estate, 11% in manufacturing, 1.1% in irrigation and 0.5% in mining.
Andhra Pradesh, of the total proposals, attracted 32.5% in electricity, 21.7 % in manufacturing, 19.8% in services, 11.6 % in irrigation, 11.6% in real estate and 2.8% in mining.
Odisha, of the total proposals worth Rs 12.09 lakh crore, attracted 44.2% in manufacturing, 40.4% in electricity, 7.4% in services, 6.5% in mining, 0.9% in real estate and 0.6% in irrigation.
For the real estate sector,Haryana was a major destination as it attracted 49.7% of the total investment proposals.
For the electricity sector, Uttarakhand received 75.1% of the total investment of Rs 1.07 lakh crore,followed by Chhattisgarh, 66% of Rs 4.56 lakh crore,Bihar 65.2% of Rs 2.38 lakh crore), Himachal Pradesh 63.2% of Rs 84,062 crore and Madhya Pradesh 59.4% of Rs 5.65 lakh crore. Odisha emerged second to Jharkhand as far as manufacturing was concerned. While manufacturing has got 63.1% share in total live investments in Jharkhand, the sector has got prominence in Odisha (44.2% share), West Bengal (43.1% share) followed by Karnataka (38.9% share) and Assam (31.9% share).
