BIMARU states new investment hubs: Assocham
Even though the economic slowdown has seen investments in the country going down substantially, BIMARU states have manage to escape the impact as India Inc plans to inject Rs 20,638 crore in these regions, a study says.business Updated: Jan 20, 2009 19:56 IST
Even though the economic slowdown has seen investments in the country going down substantially, BIMARU states have manage to escape the impact as India Inc plans to inject Rs 20,638 crore in these regions, a study says.
According to an Assocham report 'Assocham Investment Meter', the overall proposed investment in the country by domestic business houses has been curtailed by as much as 75 per cent in the third quarter of this fiscal.
However, it added that although the total proposed investment has dipped by 75 per cent in October-December quarter states like Rajasthan, Bihar, Uttar Pradesh and Madhya Pradesh (BIMARU) have recorded maximum rise in their rankings on AIM.
It said in the Q3 of fiscal 2009 Indian companies have lined up Rs 1,01,262 crore investments for the country, while in the same period a year ago the figure stood at Rs 4,09,441 crore.
Of the total proposed invest of Rs 1,01,262, the BIMARU states have attracted as much as Rs 20,638 crore.
According to the study Rajasthan has topped the charts with an investment of Rs 11,102 crore, making up 22.6 per cent of the total investments lined up for fiscal 2009.
"Energy and food processing sectors have attracted the Indian industrialists for the region," the study said, adding in the fiscal 2008, the state had drawn investments worth Rs 3,210 crore.
Rajasthan is followed by Madhya Pradesh, Uttar Pradesh and Bihar, which have attracted investments worth Rs 6,687 crore, 304 crore respectively.
"Uttar Pradesh, is attracting corporate investors mainly due to the planned NCR region of Noida and Ghaziabad that are near to the national capital," Assocham said.