Private sector accounts 73% of investments attracted by Gujarat: ASSOCHAM

Of the total outstanding investments attracted by the state of Gujarat worth over Rs 14 lakh crore as of December 2012, foreign and domestic private sources account for over Rs 10 lakh crore thereby registering a share of about 73%, according to a just concluded analysis by apex industry body ASSOCHAM.

Besides, acquiring a share of about 14% in the total outstanding private sector investments worth over Rs 75 lakh crore (including both domestic and foreign private sources), Gujarat has ranked on top for attracting maximum private investments across India as of December 2012, according to a sector specific analysis titled 'Composition of Outstanding Investments Across States,' carried out by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

"With investment proposals worth over Rs 75 lakh crore, the private sector accounts for over 62% of the total outstanding investments attracted by India worth about Rs 122 lakh crore during the aforesaid period," said Ms Bhagyesh Soneji, chairperson of the ASSOCHAM Gujarat Council while releasing the chamber's analysis.

"Interestingly, Gujarat's share in private investments across India has increased from about 12.5% in total private investments attracted by India as of June, 2012 to about 14% as of December 2012," said Ms Soneji. "This portrays the bureaucratic efficiency, infrastructure facilities and ease of land acquisition in Gujarat which has influenced the inflow of private investments that are mostly driven by profitability considerations."

Jharkhand, Haryana, Orissa and Chhattisgarh are other top states where private sector accounts for a share of about 70% and above in total investments attracted by the state.

With a share of about 12% in the total private sector investments attracted by India, Odisha ranks second with private investment commitments worth over Rs eight lakh crore. Besides, private sources account for over 75% of the total investments...

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