The Hindu Business Line
Maharashtra tops in foreign investments, says Minister
State has received investments worth ₹68,409 cr this year
Maharashtra has bagged a big portion of the foreign direct investments that have come to the country in the first six months of the current financial year, a state minister has said.
Of the total investments of ₹1,44,674 crore that have come into the country in the AprilSeptember period this year, the State has got investments worth ₹68,409 crore, Industries Minister Subhash Desai said.
“The state has achieved a percentage value of 84.5 in terms of ease of doing business. It has gone up substantially from 49.5 per cent and is expected to rise up to 90 per cent in the near future,” Desai said, while releasing the data, here recently.
He said Singapore’s Asian Competitiveness Association has chosen Maharashtra for top slot in industrial progress.
“The state has become the most favourite destination for foreign investment due to its policies of providing ease of doing business, quality infrastructure, encouragement and skilled manpower,” the minister claimed.
The investments have come mainly from Japan, England, Mauritius, the US and the Netherlands in fields like service sector, real estate and infrastructure, computer hardware and software, telecommunications, motor vehicles and medicines.
According to Desai, the state attracted foreign investment of ₹62,731 crore in 2015-16 as compared to Delhi’s ₹83,288 crore.
However, Delhi lagged behind the state in the AprilSeptember period this year by getting only ₹23,415 crore worth of foreign investment (compared to Maharashtra’s ₹68,409 crore), Desai said.
The respective figures for investments last year and AprilSeptember period this year for some other states are: Tamil Nadu — ₹29,781 crore and ₹4,136 crore, Karnataka — ₹26,791 crore and ₹7,216 crore, Andhra Pradesh — ₹10,315 crore and ₹7,204 crore and Gujarat ₹14,667 crore and ₹2,462 crore.