Maharashtra tops Gujarat as investment destination

Maharashtra tops Gujarat as investment destination

MAHARASHTRA has emerged as (he number one investment destination in the count r>replacing Gujarat, according 10 an ASSOOCHAM report. Maharashtra attracted cumulative investment proposals of Rs.14.73.466 crore as on December 2013. while Gujarat drew proposals worth Rs. 13.98.347 crore. an analysis by the industry group showed. The primary- reason behind Maharashtra overtaking Gujarat was the State's focus on development of industrial centres in Tier-II and Tier-Ill cities. making it the preferred choice of investments, especially for the Indian and global service sector industries, it said. Maharashtra has become the hub for the service and electricity industries which together attracted investment over Rs. 67,000 crore in 2013. However, in comparison. Gujarat attracted nearly Rs. 62.000 crore in the same year, the study observed. Gujarat had attracted Rs. 16.28.126 crore of investment proposals as on December 2011, when Maharashtra came in second with Rs. 14.13.728 crore of proposed investments. The study said the value of investment proposals id three of the top five destinations - Gujarat, Andhra Pradesh and Odisha - reg- instred a decline.
"While the overall composition of" lead investment destination slates remains largely unchanged, in the last two years there have been note worthy changes in die individual positions or India's preferra  investment destinations." ASSOCHAM President. Rana Kapoor said.
"The combined share of the country's five lop investment destirution.s has reduced from 53.6 pc 10 48.2 pc during the two years lo December 2013."Kapoor added. The other three states that attracted the most investment proposals are Andhra Pradesh. Odisha and Karnataka and the lop five slates together accounted for 48.2 pc of total of Rs.1.30.50.467 crore as on December 2013.

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