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Kerala has emerged as the only state to record positive growth in terms of receiving industrial entrepreneurs’ memorandum (IEM) proposals during 2012-14, according to an Assocham study.
The growth was about 315 per cent during the period compared to 2009-11, while the figure had seen a decline of over 65 per cent in the country, the study titled ‘Realising economic growth potential in Kerala’ said.
Kerala received IEM proposals worth over ₹17,600 crore, which is just about one per cent of the ₹15 lakh crore IEMs received across the country. The State had also attracted outstanding investments worth about ₹3 lakh crore accounting for just about two per cent of the total outstanding investments worth ₹157 lakh crore attracted by states as of 2014-15.
The services sector (other than financial) accounted for the largest share of 54.5 per cent in total outstanding investment attracted by Kerala, followed by manufacturing (27.5 per cent), real estate and construction (eight per cent) and electricity (7.5 per cent).
The investments attracted by Kerala have grown at a CAGR of over 13 per cent during the course of the past decade between 2004-05 and 2014-15, said D.S. Rawat, Secretary-General of Assocham, said.
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