‘India Inc to invest Rs13.3 lakh crore in Gujarat’

Believe it or not, between April and September 2010, Indian private sector companies announced plans for investing a total of Rs13.30 lakh crore in Gujarat.

According to the recent Assocham Investment Meter report, the companies' investment plans for Gujarat in this six-month period were the highest of any state in the country.

Incidentally, the size of investments planned was higher than the Rs12 lakh crore worth of investments the state attracted during Vibrant Gujarat Global Investors' Summit-2009.

The report says that Gujarat leads the top investment-attracting states of the country in attracting investments. It attracted 13.2% of the total domestic investment plans announced by corporations for the country as a whole in the period April-September 2010.

The state witnessed Rs13,30,743 crore worth of capital expenditure (capex) plans which are 17.3% higher than the total investment realized in the state during the past year. Also, the state attracted a majority of investment plans in the power, manufacturing and services sectors.

The report reveals that investment announcements in the 20 major states rose during April-September 2010 - the first half of 2010-11 fiscal - to Rs1,00,97,472 crore.