New Delhi, December 31: Maharashtra, Gujarat and Odisha have emerged as most lucrative investment destinations for investors in India. Maharashtra has toppled Gujarat as the most sought after destination for global and domestic investors as the latter recorded least growth rate of just over two per cent amid top 21 states across India during the course of past five years, revealed a recently concluded study by apex industry body ASSOCHAM.
“Maharashtra, Gujarat and Odisha have emerged as most lucrative investment destinations as they together account for over one-fourth share (26.6 per cent) in the total outstanding investments worth over Rs 154 lakh crore attracted by various sectors from both public and private sources across major 21 states in India as on December 2014 which grew from Rs 105 lakh crore as on December 2009,” noted the study titled ‘A Comparative Analysis of Investment Pattern in States,’ conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“With a share of about 10 per cent, Maharashtra has ranked on top attracting investments worth over Rs 15 lakh crore as on December 2014 closely followed by Gujarat (9.2 per cent share), while Odisha (7.5 per cent), Karnataka (6.8 per cent) and Tamil Nadu (6.5 per cent) are other states with significant share in this regard,” highlighted the study prepared by the ASSOCHAM Economic Research Bureau (AERB).
“Investment is the key driver of productivity and sustainability that leads to development and growth making most state governments to strive to better the investment climate prevailing in their respective states to make them conducive to attract domestic and foreign investors,” said D.S. Rawat, secretary general of ASSOCHAM while releasing the chamber’s study. With investments worth over Rs 84.5 lakh crore, private sector accounted for almost 55 per cent share in total investments attracted by major 21 states across India.
While investments attracted from public sector grew at a compounded annual growth rate (CAGR) of just over 11 per cent, those from private sector grew at just about five per cent during the five year period of December 2009-December 2014.