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Gujarat tops in private sector investment

Mumbai, Apr 13 () : Gujarat tops in attracting investment worth Rs 75 lakh crore till December last year from private sector. India got Rs 122 lakh crore private sector investment and Gujarat got about 14 per cent of it, Assocham said. This was a part of study of private investments in various States.

58% of private investment worth Rs 75 lakh crore is from Indian private sector. Foreign and domestic sectors jointly invested Rs 10 lakh crore. Odisha attracted Rs 8 lakh crore. Next is Andhra with Rs 7 lakh crore and on par is Maharashtra. Third is Karnataka with Rs 6 lakh crore. These figures show that it attracted investments of 9.4-9.3% from the private sector.

Effective bureaucratic decisions, easy land acquisitions and infrastructure are the key factors for private investment. State tax benefits, market conditions favourable for the product manufactured and policy that makes it easy for private players to quit influence investment.

Jharkhand got Rs 7 lakh crore, which is 85% of the total investment in the State. Chattisgarh, Haryana and Gujarat’s private sector investments’ share is 70%.

States with less than 1% investment from private sector are Assam, Jammu and Kashmir and Himachal Pradesh. These figures could be attributed to the alleged secret agenda by India Inc to project Narendra Modi as pro-industry.

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