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Odisha, Andhra Pradesh and Gujarat topped the list of favourite destinations for foreign direct investment (FDI) proposals during 2011-12.
The mineral-rich Odisha was ranked first with over 27 per cent share of the FDI proposed last fiscal. Though barely 17 FDI proposals were filed in Odisha, the State garnered the lion’s share worth about Rs 49,527 crore, according to the Associated Chambers of Commerce and Industry of India (Assocham).
With about 19 per cent share, Andhra Pradesh came second. The State received about 70 proposals worth about Rs 33,936 crore, according to a State-wise analysis carried out by the chamber.
“A total of 763 FDI proposals worth over Rs 1.78 lakh crore were filed across various States in India during the aforesaid period,” said Ravi Sannareddy, Chairperson of the Assocham Southern Regional Council, while releasing the findings of the chamber’s study today.
“Services, telecommunications, construction, computers (software and hardware), real estate and housing, chemicals, drugs and pharmaceuticals, power, automobiles and metallurgical industries are the sectors attracting FDI inflows across India,” he said.
Gujarat got the second highest number of FDI proposals at 131 and ranked third with a share of over 11 per cent attracting proposed investment worth Rs 20,258 crore. Chhattisgarh and Karnataka ranked fourth and fifth with over Rs 20,000 crore and Rs 14,000 crore investments respectively.
Maharashtra got the highest number of 144 proposals, but ranked sixth with FDI worth over Rs 12,000 crore.
The chamber recommended a mechanism to facilitate consultation between the Centre and State Governments before rolling out a policy to ensure that the decision once taken is not reversed.
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