In the previous year, state attracted investments worth Rs2.45 lakh crore.
In 2009, all industrialised states in the country attracted huge investments by India Inc. But Gujarat was ahead of all other states in attracting investment. It attracted proposed investment of more than Rs2.45 lakh crore between January and December 2009.
The Associated Chambers of Commerce & Industry of India (Assocham) released its study ‘Assocham Investment Meter (AIM)’ on corporate investments in India in 2009. The study reveals that India attracted a total proposed investment of Rs15.94 lakh crore in 2009. Gujarat’s share in this massive amount was more than 15%.
Interestingly, the proposed investment in Gujarat till September 2009 was around Rs40,000 crore which increased to Rs2.4 lakh in just last three months of the year. Similarly, the total proposed investment in the country in the first nine months of 2009 was merely Rs4.50 lakh crore.
This, however, increased drastically by more than Rs10 lakh crore in the last three months of the year. In 2009, the December quarter seemed as the favoured period for investments. The report says, “Undeterred by economic slowdown, the domestic investment announcements of India Inc registered a growth of 16% during calendar year 2009 over 2008 with Gujarat emerging as a
frontrunner.”
As per the annual AIM assessment report for corporate investments across states and sectors, total investment plans of India Inc. increased significantly from Rs13,80,099 crore in 2008 to Rs15,94,203 crore in 2009; of which Gujarat, Orissa and Andhra Pradesh carved out a majority share of 15.4%, 12.6% and 8.1%,
respectively.
“The robustness in corporate investment activity on the Indian soil shows how competently the economy has managed to weather the storm of unprecedented global financial crisis,” said DS Rawat, Assocham secretary general.
But, for Crisil Advisor, Sunil Parekh, it was difficult to digest the figure. “The entire year was the dullest period for capital expansion.
The situation started improving but not to an extent that companies can start investing heavily,” he said. Talking about Gujarat, the AIM report says, state registered the highest share in domestic investment plans in 2009.
The state witnessed Rs2,45,352 crore worth of investment plans. Helped by the investor friendly policies of the state government which led to a smooth relocation of the Tata Nano project, the state attracted a majority of investment plans in the real estate, power and infrastructure sectors, reveals report.
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